Latest news with #Korbel
Yahoo
3 days ago
- Business
- Yahoo
Brown-Forman Stock Plunges as Jack Daniel's Maker Warns of Economic Challenges
Brown-Forman said it faces a challenging operating environment this year, and shares sank to a more than 11-year low. The maker of Jack Daniel's whiskey and other alcoholic beverages warned about the impact of macroeconomic volatility, soft consumer demand, tariffs, and sales of used barrels. Fiscal fourth-quarter profit and sales missed (BF.B) was the worst-performing stock in the S&P 500 Thursday after the maker of Jack Daniel's whiskey warned about a "challenging" economic outlook this year. The company that also has brands such as Woodford Reserve, Chambord, and Korbel predicted the operating environment in fiscal 2026 will have "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." Brown-Forman sees both full-year organic sales and organic operating income to drop by a low-single-digit percent. CEO Lawson Whiting said Brown-Forman faced "softening consumer demand" as well as "an exceptionally challenging macroeconomic environment," and that it expects "continued headwinds." The company reported fiscal 2025 fourth-quarter earnings per share of $0.31, with revenue falling 7% year-over-year to $894 million. Both were short of Visible Alpha forecasts. Shares of Brown-Forman sank more than 15% in recent trading to their lowest level since September 2013. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-05-2025
- Politics
- Yahoo
Prisoners who skip sentencing 'should lose visits'
Plans to stop prison visits for criminals who refuse to attend their sentencing hearing have been supported by the mother of a murdered nine-year-old girl. Cheryl Korbel, whose daughter Olivia Pratt-Korbel was fatally shot by Thomas Cashman in Dovecot, Liverpool, in August 2022, said: "If we want to see our loved ones, we have to visit a cemetery but they still have the right to see their family." Cashman refused to attend court to be sentenced in April 2023, prompting Olivia's family to campaign for a change in the law. Prime Minister Sir Keir Starmer praised Ms Korbel, saying her determination to bring about change would be "heard by the whole world". Olivia was fatally shot by Cashman when he chased a fellow drug dealer into her home on 22 August 2022. Olivia's Law is part of the Victims and Courts Bill which is progressing through Parliament. It would mean that criminals who refuse to attend sentencing, or disrupt hearings in England and Wales, could face an additional two years in prison as well as other sanctions, including missing out on family visits. Ms Korbel told BBC Radio Merseyside: "If we want to see our loved ones that aren't here anymore we have to go to a cemetery, but they still have the right to see their family. "If they are going to object to coming up (for sentencing) then that sanction should be put in place." The proposed legislation had its second reading in the House of Commons on Tuesday. Her MP Anneliese Midgley, who represents Knowsley, spoke in the debate. Her speech included the victim impact statement which Ms Korbel read at Cashman's sentencing hearing, despite him not being in court to hear it. Ms Korbel and her cousin Antonia Elverson were also present for Prime Minister's Questions on Wednesday, where Midgley asked the Starmer to commit Olivia's Law to the statue books "as soon as possible". Starmer welcomed Olivia's family to the House of Commons before adding: "I am always humbled by those with the courage to respond to appalling heartbreak by campaigning for change and I know the whole house will pay tribute to her extraordinary courage and resolve." He thanked Midgley for reading Ms Korbel's victim impact statement "because I know from talking to Cheryl how hard it was for her to make in the first place". The prime minister went on: "It took a huge amount of courage and grief, and she wanted to read that statement to the perpetrator as she should have been able to do, and I know how visceral the pain is to her of not being able to have done so." Starmer said: "Cowards who commit these heinous crimes should face the consequences of their actions and that's why we will force offenders to attend sentencing hearings." Midgley said she wanted to read the statement in full to ensure the words were forever recorded in Hansard, the Parliamentary record. "They were words she was denied saying to the murderer of her child in court, and spearheaded her campaign to get the law changed," said the Labour MP, adding that she hoped it would bring Ms Korbel "a sense of justice" that "she was denied". Ms Korbel said hearing her words read in Parliament had been "one of the hardest moments" of her campaign. Ms Elverson said: "It's so poignant because those words are going to go down in history. "They will be there for anyone to research and when we are gone for our family to look back on." She said it had been "really difficult" because "it did take us back" to the time of Cashman's trial. Midgley said there were provisions in the Bill which would mean that, as well as having their sentence extended, offenders who refused to attend sentencing hearings could face unlimited fines and lose privileges including family visits and social time. She said the Bill had received cross-party support from MPs. After more scrutiny, the draft law will return to the Commons for a third and final reading. Listen to the best of BBC Radio Merseyside on Sounds and follow BBC Merseyside on Facebook, X, and Instagram. You can also send story ideas via Whatsapp to 0808 100 2230. Olivia's mum backs sentencing refusal law change Olivia's murderer jailed for at least 42 years UK Parliament Prime Minister's Office
ITV News
21-05-2025
- Politics
- ITV News
Sir Keir Starmer commits to passing Olivia's Law 'as quickly as we can' after meeting Cheryl Korbel
Olivia's mother Cheryl Korbel met with Prime Minister Sir Keir Starmer The mother of Olivia Pratt-Korbel has met with the prime minister, after campaigning for criminals to be compelled to appear in the dock for sentencing. Cheryl Korbel spoke with Sir Keir Starmer, alongside Olivia's aunt Antonia Elverson, after attending PMQs in Westminster. The prime minister praised the pair for campaigning for Olivia's Law, renewing his commitment to seeing it through. He said: "You've changed the lives of other families who sadly will go through the awful trauma you've been through, but now have the opportunity to see the perpetrator sentenced and to put that victim impact statement, or whatever it may be, to him or her." Sir Keir Starmer promised to carry on the pledge to change the law, first made by his predecessor Rishi Sunak, when he met with Ms Korbel in January this year. He concluded by saying: "We'll get it through as quickly as we can now, and it will go through intact". Yesterday, the words of Olivia Pratt-Korbel's mother were spoken in parliament by an MP, as measures to compel criminals to appear in the dock for sentencing were brought to the Commons. In an emotional contribution, Anneliese Midgley read out Cheryl Korbel's victim's statement, which her nine-year-old daughter's killer "refused to hear" in court. Thomas Cashman, the gunman who killed Olivia as he chased a drug dealer who had tried to run into her home in Knotty Ash, Liverpool, did not appear to hear his life sentence in April 2023. As Ms Korbel watched tearfully from the gallery, the Labour MP for Knowsley praised her for her campaigning on Olivia's law. Under the legislation, judges will be given the power to sentence offenders for up to two more years in prison for avoiding sentencing hearings. For offenders who already face lengthy imprisonment or whole life orders, judges could also impose a range of prison punishments such as confinement to their cells and being stripped of privileges such as extra gym time. The measures are part of the Victims and Courts Bill, which had its second reading in the Commons on Tuesday. In her victim statement, Ms Korbel described Olivia as "the light of our lives, our beautiful, sassy, chatty girl who never ran out of energy". Ms Korbel had also said: "My worst nightmare was being separated from Liv and not being with her when she needed me the most, I was the first person to hold my baby girl, and as her mum, I should have been the last. "I cannot get my head around how Cashman continued to shoot after hearing the terrifying screams, the utter devastation he has caused, he doesn't care, how could he? "His actions have left the biggest hole in our lives that can never be filled. "That man set out to do a job and he didn't care about anyone else or who got in the way. He certainly couldn't own it either." Concluding her speech, Ms Midgley said: "Let Cheryl's words be heard. Let them be honoured. Let Olivia's law pass, and make sure that no victim's voice is ever shut out of justice again."
Yahoo
13-05-2025
- Business
- Yahoo
Korbel enters global sales partnership with Henkell Freixenet
California-based winemaker Korbel Champagne Cellars has picked sparkling wine giant Henkell Freixenet to manage its global sales, marketing and distribution. Henkell Freixenet's subsidiary, Freixenet Mionetto USA, will oversee Korbel's operations in North America. Korbel Champagne Cellars president and owner Gary Heck said that the deal with Henkell Freixenet positions Korbel 'for future growth'. The move, effective from 1 July, comes as Korbel ends its 60-year tie-up with Brown-Forman from the end of June. Brown-Forman and Korbel's partnership started in 1965. According to the Jack Daniel's maker's 2024 annual report, the group sells Korbel products 'under contract' in the US and to 'other select markets'. Henkell Freixenet told Just Drinks the US is Korbel's "largest market". Founded in 1882, Sonoma County-based Korbel produces a range of méthode champenoise sparkling wines, as well as a clutch of still wines, port and sherry. The company also operates a brandy business under the name Korbel Californian Brandy. When asked about potential expansion plans for Korbel, Henkell Freixenet said its current focus remains 'on further developing the brand' in the US. The Mionetto producer added that with its "global network", it "will assess market potential with our local teams to identify opportunities for expanding the presence". Henkell Freixenet CEO Dr Andreas Brokemper added: 'Drawing on our global presence and expertise, we are committed to further expanding the brand. This collaboration represents a great enhancement to our sparkling wine portfolio.' Also commenting on the deal, Enore Ceola, president of North America and Mexico and chief executive officer, Freixenet Mionetto USA, said: 'We are honored to represent Korbel and are fully committed to continue building the legacy of the brand and of the Heck family.' Henkell Freixenet was established in 2018 following Henkell & Co.'s purchase of a majority stake in Spanish Cava producer Freixenet. The company operates in over 150 countries around the world. "Korbel enters global sales partnership with Henkell Freixenet" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
12-05-2025
- Business
- Yahoo
Brown-Forman, Korbel Champagne Cellars cease sales partnership
Brown-Forman is further loosening ties with wine, ending its 60-year sales, marketing and distribution partnership with Californian winemaker Korbel Champagne Cellars. In a joint statement, both companies said they would terminate the tie-up as of 30 June. Brown-Forman and Korbel's partnership started in 1965. According to the Jack Daniel's maker's 2024 annual report, the group sells Korbel products "under contract" in the US and to "other select markets". "We deeply value the rich history and collaborative spirit that has characterized our relationship with Korbel and its owner, Gary Heck," Lawson Whiting, Brown-Forman's president and CEO, said in a joint statement. "Going forward, we will each pursue our respective long-term growth objectives.' Gary Heck, president and owner of Korbel Champagne Cellars, added: 'Korbel deeply appreciates the decades of successful partnership with Brown‑Forman. As we embark on this new chapter, we are excited to continue connecting with our consumers and further elevate our iconic brand nationwide." Just Drinks has asked both companies to expand on the rationale for ceasing the partnership. Set up in 1882, Sonoma County-based Korbel produces a range of méthode champenoise sparkling wines, as well as a clutch of still wines, port and sherry. The company also operates a brandy business under the name Korbel Californian Brandy. The move marks another step away from the wine category for Brown-Forman. Two years ago, the US spirits heavyweight sold its Sonoma Cutrer vineyards to US luxury wine business The Duckhorn Portfolio. The sale was completed in May last year. The Woodford Reserve brand owner sold the Sonoma Cutrer business in exchange for around of The Duckhorn Portfolio and $50m. Assets included in the deal were the Sonoma‑Cutrer brand trademarks, production sites, and its six vineyards located in the Sonoma Coast and Russian River Valley wine appellations. Following the sale, The Duckhorn Portfolio added two Brown‑Forman executives to its board of directors, Marshall Farrer, chief strategic growth officer, and Tim Nall, chief global supply chain and technology Officer. In October, US private-equity firm Butterfly Equity struck a deal to buy The Duckhorn Portfolio for around $1.95bn. "Brown-Forman, Korbel Champagne Cellars cease sales partnership" was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
