Latest news with #JackDaniel's
New York Post
6 hours ago
- Business
- New York Post
Jack Daniel's maker's stock plummets 17% on bleak forecast due to tariffs
Brown-Forman forecast a decline in annual revenue and profit on Thursday, as the Jack Daniel's maker navigates soft consumer spending amid tariff-related uncertainties, sending its shares plunging about 17%. Worries of a possible recession and product price increases brought on by international trade wars have dented consumer sentiment in the US and pushed people to cut back on discretionary products such as high-end alcohol. 'We anticipate the operating environment for fiscal 2026 will be challenging, with low visibility due to macroeconomic and geopolitical volatility as we face headwinds from consumer uncertainty, the potential impact from currently unknown tariffs,' the company said. Advertisement 'We anticipate the operating environment for fiscal 2026 will be challenging,' the maker of Jack Daniel's said. AP The US has doubled the tariffs on steel and aluminum imports to 50%, posing a risk for the company that also makes canned ready-to-drink products. The liquor maker had said in March Canadian provinces taking American liquor off store shelves was 'worse than a tariff,' but noted that it can withstand the impact as Canada accounted for only 1% of its total sales. Advertisement Brown-Forman, however, benefited from the European Union dropping its planned retaliatory tariff on American whiskey. The owner of Old Forester and Woodford Reserve brands expects both organic net sales and organic operating income for fiscal 2026 to decline in the low single-digit range. Brown-Forman benefited from the European Union dropping its planned retaliatory tariff on American whiskey. Getty Images It reported an increase of 1% and 3% in organic net sales and organic operating income, respectively, during fiscal 2025. Advertisement The company's results were indicative of pressure on consumers and their stretched discretionary budgets rather than a decline in premium American spirits, Consumer Edge analyst Connor Rattigan said. Brown-Forman's sales during the quarter ended April 30 fell 7% to $894 million, compared with analysts' average estimate of $967.4 million, according to data compiled by LSEG. Its earnings per share of 31 cents also missed the estimate of 34 cents.
CNBC
9 hours ago
- Business
- CNBC
Brown-Forman shares plummet as whiskey maker warns of tariff uncertainty
Shares of Jack Daniel's-maker Brown-Forman plunged more than 18% on Thursday after the company reported quarterly earnings that came in below analyst estimates, weighed down by the impact of tariffs and weak discretionary spending on alcohol. "While our results did not meet our long-term growth aspirations, we made important progress in an exceptionally challenging macroeconomic environment," CEO Lawson Whiting said in the company's earnings release. Here's how the company performed for its fiscal fourth quarter of 2025, compared with Wall Street expectations, according to LSEG: For the fiscal fourth quarter, Brown-Forman reported sales of $894 million, down 7% from the same quarter a year prior. Net income of $146 million, or 31 cents per share, was down 45% from $266 million, or 56 cents per share, a year earlier. While net sales for Brown-Forman's whiskey products — Jack Daniel's and Woodford Reserve — were flat for fiscal year 2025 compared with the prior year, the company's tequila and ready-to-drink portfolios declined 14% and 6%, respectively. For fiscal year 2026, the company expects declines in the single-digit range in both organic net sales and organic operating income. "We anticipate the operating environment for fiscal 2026 will be challenging, with low visibility due to macroeconomic and geopolitical volatility as we face headwinds from consumer uncertainty, the potential impact from currently unknown tariffs, and lower non-branded sales of used barrels," the company said. While Brown-Forman says it's unable to measure potential tariff impact, analysts at Bernstein estimate that a 50% tariff on U.S. whiskey sold in the EU would result in a 10% hit to Brown-Forman's earnings before interest and taxes, or EBIT. Bernstein also noted that in a recessionary environment, distillers typically underperform brewers, which makes Brown-Forman more vulnerable than beverage peers like Constellation Brands, Molson Coors and Anheuser-Busch. In recent months, Canadian liquor stores began removing Jack Daniel's products and other U.S. products in response to President Donald Trump's tariffs. In March, Brown-Forman's Whiting called the removals "worse than a tariff." And the Trump administration this week also doubled the tariffs on steel and aluminum imports to 50%, impacting Brown-Forman's and the broader sector's canned ready-to-drink products.
Yahoo
23-05-2025
- Entertainment
- Yahoo
Kesha is now a startup founder
Kesha may have taken the dollar sign out of her name, but now, the singer is thinking about money again -- not for herself, but to fund the seed round of her new startup, Smash. According to Kesha's Instagram post, Smash will be a "community-based platform to connect and protect music creators," which aligns with the mission of her new eponymous record label, which she announced last year. The 38-year-old chart-topper has always been more than a glitter-clad party girl singing about brushing her teeth with Jack Daniel's. Beneath her infectious 2010s pop music is a darker story -- one in which she felt stripped of her power, both as an artist and a person, by a predatory record deal that she signed when she was a teenager. After a traumatic public legal battle with her producer, Kesha now says that she is a "free woman," and she's making new music. Both her label, Kesha Records, and the app Smash seek to help others make music without compromising their creative rights. "I want a place where artists and music makers of any kind can have community, they can collaborate, they can hire each other and retain all the rights to everything they create," Kesha said in an interview with WIRED. "There's no gatekeeping of contacts." She went on to describe the app as "LinkedIn for music creators," or a "Fiverr-style marketplace." The difference is that Smash plans to prioritize artists' rights at every stage. Kesha's CTO on the project is Alan Cannistraro. He spent 12 years at Apple building some of the first iOS apps, then worked at Facebook, where he built the Year-In-Review feature. He left to start a social video platform called Rheo, which TechCrunch covered in 2016. Sign in to access your portfolio
Yahoo
23-05-2025
- Entertainment
- Yahoo
Kesha is now a startup founder
Kesha may have taken the dollar sign out of her name, but now, the singer is thinking about money again -- not for herself, but to fund the seed round of her new startup, Smash. According to Kesha's Instagram post, Smash will be a "community-based platform to connect and protect music creators," which aligns with the mission of her new eponymous record label, which she announced last year. The 38-year-old chart-topper has always been more than a glitter-clad party girl singing about brushing her teeth with Jack Daniel's. Beneath her infectious 2010s pop music is a darker story -- one in which she felt stripped of her power, both as an artist and a person, by a predatory record deal that she signed when she was a teenager. After a traumatic public legal battle with her producer, Kesha now says that she is a "free woman," and she's making new music. Both her label, Kesha Records, and the app Smash seek to help others make music without compromising their creative rights. "I want a place where artists and music makers of any kind can have community, they can collaborate, they can hire each other and retain all the rights to everything they create," Kesha said in an interview with WIRED. "There's no gatekeeping of contacts." She went on to describe the app as "LinkedIn for music creators," or a "Fiverr-style marketplace." The difference is that Smash plans to prioritize artists' rights at every stage. Kesha's CTO on the project is Alan Cannistraro. He spent twelve years at Apple building some of the first iOS apps, then worked at Facebook, where he built the Year-In-Review feature. He left to start a social video platform called Rheo, which TechCrunch covered in 2016. Error while retrieving data Sign in to access your portfolio Error while retrieving data
New York Post
14-05-2025
- Entertainment
- New York Post
Judge Judy reacts to her AI baby double: ‘Hilarious and frightening at the same time'
Acting real fake online As I told you yesterday, the world's wizards have caught up with the world's A-1 wise ass, my friend Judge Judy. Last month, this highest-paid voice on TV graciously told me: 'You owe me $12 for what you lost in gin.' But now artificial intelligence brings me her familiar voice, matches cadence, words. Wearing same judicial robes. Lace collar, small earrings. But it's not her. It's a talking baby, and grown up Judy has gone to LA and I'm now in NY. Many voice concerns. The film industry has actors now seeking protections against this techie threat. Hank Azaria, who does bigtime voice acting, says about artificial intelligence: 'I'm a little worried but I'm being honest. This is my job. What I love to do. I don't want to stop having to do it. 'A voice is not just a sound,' he says. He tells you his voices are layered impressions of others with his own memories and observations of their personalities and characters. 'So much of who I am goes into creating a voice. How can a computer conjure all that?' Cate Blanchett, coming to the world on TikTok, is quoted saying: 'I'm deeply concerned about the impact of AI.' An AI video of Judge Judy as a baby. TikTok/ As I raised this issue the ever savvy JJ replied: 'For those of you who haven't seen enough of Judge Judy, you can now watch Baby Judy in an AI-generated platform on X. It's hilarious and frightening at the same time. Like being cloned while you're still alive.' Then this real live trillionaire — with multiple shows on TV — again reminded me that I owe her $12. Ruff night guaranteed Attention: Animal lovers, ask your barktender for a new dachshund-shaped bottle. You can even growl your order, plus, maybe, request their accompanying dog biscuit if they have any. This new four-legged shaped bottle is available in Blanton's, Jack Daniel's, Jameson and Four Roses. Not in my house. In my house you get what my 5-year-old Yorkie Jellybean gets — and that's repeat directions to his powder room — and not! my kitchen floor! Seaside 'Street' I have more. We speak now of greed. Greed is nice. Good. Oceanfront Hampton was hawking a waterside hub that Gordon Gekko once slept in. The thing just got unloaded for $32 million. A Bridgehampton millionaire got it. What, you thought maybe it went to a bicycle delivery driver? One of the most expensive shacks unloaded in that area was pictorialized in the 1987 film 'Wall Street,' which starred Michael Douglas, Charlie Sheen and Daryl Hannah. If you were never invited there — not my problem. This 67 Surfside Drive pile — according to Suffolk County abacus owners — is considered one of Suffolk County's more expensive unloads. In his spare time Letting Harry — prince of a guy married to commoner Markle — know that NYC's British Consulate is honoring daddy. His Majesty. Although His Maj is in London this is a reception for his kingly birthday. Apparently monarchs get two. This one's Friday, June 6, 3 p.m. to 5 p.m. Short. Longer than that other prince may have spent with the now departed prisoner Epstein. His Majesty's birthday is at the Rockefeller rink. I cannot help getting you in. Only one who ever managed to get in anyplace was Meghan Markle. They're sticky. Check with the Brits for your invite. Tell you the truth, I haven't seen so much respect and admiration for a Princelike Harry since my own editor stood alone in front of a three-way mirror. Only in New York, kids, only in New York.
