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RemyCointreau

News

Reuters - 2 days ago

Hennessy workers strike as France's Macron urges Xi to drop China cognac tariffs

Hennessy workers strike as France's Macron urges Xi to drop China cognac tariffs By Dominique Patton and Elizabeth Pineau PARIS/RIO DE JANEIRO, Nov 20 (Reuters) - Hennessy staff extended a strike on Wednesday over its plans to bottle cognac in China to circumvent import tariffs, after French President Emmanuel Macron urged his Chinese counterpart Xi Jinping to lift the duties.
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Reuters - 3 days ago

Hennessy plan to trial bottling cognac in China to avoid tariffs prompts strike

UPDATE 3-Hennessy plan to trial bottling cognac in China to avoid tariffs prompts strike Strike involves 500 workers at plant in southwest France Hennessy says studying temporary bottling of cognac in China China is second-largest export market for cognac Recasts lead, adds Hennessy comment in paragraph 2 By Alban Kacher Nov 19 (Reuters) - Hennessy is studying a plan to bottle cognac in China, the company owned by French luxury giant LVMH LVMH.PA said on Tuesday, prompting hundreds of workers at
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Reuters - 3 days ago

Hennessy staff strike over plans to bottle cognac in China

Hennessy staff strike over plans to bottle cognac in China By Alban Kacher Nov 19 (Reuters) - Around 500 staff at Hennessy, the cognac manufacturer owned by French luxury giant LVMH LVMH.PA , went on strike on Tuesday to protest plans to bottle the brandy in China to avoid tariffs, a union representative said. Beijing imposed duties of more than 30% on imports of bottled brandy from the European Union in October, hitting Hennessy as well as other French companies such as Remy Cointreau RCOP.PA a
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Reuters - 3 weeks ago

Campari slumps after Q3 miss, drags peers

BUZZ-Campari slumps after Q3 miss, drags peers ** Shares in Italy's Campari CPRI.MI fall about 14%, to their lowest price in over 4 years, after the spirits maker missed Q3 forecasts with an 18.2% drop in Q3 operating profit ** The Aperol maker's Q3 sales fall 1.4% to 753 mln euros ($816.33 mln), significantly below Visibla Alpha consensus of 832 mln euros ** J.P.
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Reuters - 3 weeks ago

Campari's third-quarter operating profit drops 18%

UPDATE 1-Campari's third-quarter operating profit drops 18% Recasts, adds details from statement MILAN, Oct 29 (Reuters) - Campari CPRI.MI missed forecasts on Tuesday with an 18.2% drop in third-quarter operating profit and the Italian spirits maker warned its fourth-quarter results would be hit by lower production volume and an unfavourable sales mix.
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Reuters - 4 weeks ago

UK motor finance ruling hits exposed lenders, analysts crunch numbers

LIVE MARKETS-UK motor finance ruling hits exposed lenders, analysts crunch numbers STOXX 600 down 0.1% Airline stocks higher Oil names drop on lower crude Wall St futures higher Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com UK MOTOR FINANCE RULING HITS EXPOSED LENDERS, ANALYSTS CRUNCH NUMBERS Investors are punishing UK bank stocks with exposure to motor finance for a second ses
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Reuters - 4 weeks ago

EU beverages may be facing a nasty hangover on Nov. 6

LIVE MARKETS-EU beverages may be facing a nasty hangover on Nov. 6 STOXX 600 down 0.1% Airline stocks higher Oil names drop on lower crude Wall St futures higher Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com EU BEVERAGES MAY BE FACING A NASTY HANGOVER ON NOV.
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Reuters - 4 weeks ago

Glencore, Knaus Tabbert, LSE

EUROPE RESEARCH ROUNDUP- Glencore, Knaus Tabbert, LSE Oct 28 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Glencore, Knaus Tabbert and LSE, on Monday. HIGHLIGHTS * Glencore Plc GLEN.L : HSBC raises to buy from hold * Knaus Tabbert AG KTAG.DE : Jefferies cuts to hold from buy * LSE LSEG.L : RBC raises target price to 11,600p from 11,000p * Suzano SUZB3.SA : HSBC raises to buy from hold * Veolia VIE.PA : RBC initiates coverage with
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Reuters - 4 weeks ago

Remy to raise cognac prices in China to offset tariffs

UPDATE 1-Remy to raise cognac prices in China to offset tariffs Adds details, CFO quotes throughout PARIS/LONDON, Oct 25 (Reuters) - Remy Cointreau RCOP.PA will raise cognac prices in China to help mitigate the impact of tariffs imposed by Beijing on European Union brandy amid a trade dispute, its finance chief told investors on Friday. China imposed provisional tariffs on brandy from the European Union earlier this month, days after the 27-member bloc voted for tariffs on Chinese-made EVs.
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Reuters - 4 weeks ago

European shares end week in the red as earnings disappoint

UPDATE 2-European shares end week in the red as earnings disappoint Mercedes car earnings plunge as China shuns luxury Electrolux slides on US woes, Chinese competition Signify shares soar as largely in-line Q3 provides relief Updated at 1603 GMT By Paolo Laudani, Ankika Biswas and Johann M Cherian Oct 25 (Reuters) - Europe's main stock index closed Friday's choppy session flat and notched weekly losses , as a handful of weak corporate earnings from auto-related companies such as Mercedes-Benz a
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Reuters - 4 weeks ago

Remy to raise cognac prices in China to offset tariffs

Remy to raise cognac prices in China to offset tariffs PARIS/LONDON, Oct 25 (Reuters) - Remy Cointreau RCOP.PA will raise cognac prices in China to help mitigate the impact of tariffs imposed by Beijing on European Union brandy amid a trade dispute, CFO Luca Marotta told investors on Friday. Reporting by Dominque Vidalon in Paris and Emma Rumney in
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Reuters - 4 weeks ago

Remy Cointreau seen down after guidance cut, Q2 miss

BUZZ-Remy Cointreau seen down after guidance cut, Q2 miss ** Remy Cointreau RCOP.PA shares are seen down 3-5% as the French spirits maker no longer forecasts a gradual FY sales recovery, after quarterly sales fell more than expected ** Remy sees a double-digit fall in organic sales for the year, also impacting its profit margin ** Remy's Q2 sales fall 16.1% to 318 million euros ($344 million), below 15.4% drop cited in company consensus ** J.P.
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Reuters - 4 weeks ago

Europe before the bell: busy earnings, China gets the blame

LIVE MARKETS-Europe before the bell: busy earnings, China gets the blame Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at alun.john@thomsonreuters.com EUROPE BEFORE THE BELL: BUSY EARNINGS, CHINA GETS THE BLAME Futures are pointing to a fairly flat open at the index level, but with another busy day of earnings, it's really all about the single stocks.
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Reuters - 4 weeks ago

Remy abandons hopes for sales recovery as problems mount

UPDATE 4-Remy abandons hopes for sales recovery as problems mount Remy Cointreau expects double-digit sales decline for 2024/25 Beijing's tariffs on EU brandy imports add to challenges Announces 50 million euro cost-cutting plan Adds CFO quotes in paragraphs 5-6; analyst quotes in paragraphs 8-9; updates shares in paragraph 10 By Dominique Vidalon and Emma Rumney PARIS/LONDON, Oct 25 (Reuters) - Remy Cointreau RCOP.PA slashed its full-year guidance on Friday, delaying its recovery from persisten
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Reuters - 4 weeks ago

Remy Cointreau Sees Double-Digit Decline In 2024-25 Organic Sales

BRIEF-Remy Cointreau Sees Double-Digit Decline In 2024-25 Organic Sales Oct 25 (Reuters) - Remy Cointreau SA RCOP.PA : Q2 GROUP SALES EUR 318.0 MILLION, -16.1% ORGANICALLY (COMPANY CONSENSUS EUR 318.4 MILLION, -15.3%) 2024-25 GUIDANCE ADJUSTED: DOUBLE-DIGIT SALES DECLINE IN ORGANIC TERMS Q2 COGNAC SALES EUR 206.9 MILLION (COMPANY CONSENSUS EUR 212.
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Reuters - 4 weeks ago

Remy Cointreau cuts sales outlook as US, China weigh on Q2

Remy Cointreau cuts sales outlook as US, China weigh on Q2 PARIS, Oct 25 (Reuters) - French spirits maker Remy Contreau RCOP.PA on Friday warned it no longer expected sales to gradually recover in full year 2024/25 after it reported a worse-than-expected fall in quarterly sales amid worsening market conditions in China. The company producing Remy Martin cognac and Cointreau liqueur said it now expected a double-digit fall in organic sales for the year, also impacting its profit margin.
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Reuters - 1 month ago

In France's Cognac, Beijing and Brussels' EV spat spells disaster

In France's Cognac, Beijing and Brussels' EV spat spells disaster China's anti-dumping measures hit French brandy Cognac producers fear industry sacrificed for Europe car sector EU-China tariff dispute is double-whammy for EV dealership in Cognac By Sybille de La Hamaide COGNAC, France, Oct 11 (Reuters) - In this grape-growing region of western France, where brandy producers are fretting over the fallout from a trade dispute between the European Union and China, Christophe Bouetard is more worri
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Reuters - 1 month ago

China says anti-dumping move on EU brandy is legitimate trade measure

RPT-UPDATE 1-China says anti-dumping move on EU brandy is legitimate trade measure Repeats with no change to text BEIJING, Oct 9 (Reuters) - China's anti-dumping measures against brandies imported from the European Union are "legitimate trade remedy measures", the commerce ministry said on Wednesday, a day after imposing the temporary curb. French brands such as Hennessy and Remy Martin will face the strictures, adopted just days after the 27-nation bloc voted for tariffs on Chinese-made electri
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Reuters - 1 month ago

China says anti-dumping move on EU brandy is legitimate trade measure

RPT-UPDATE 1-China says anti-dumping move on EU brandy is legitimate trade measure Repeats to more subscribers BEIJING, Oct 9 (Reuters) - China's anti-dumping measures against brandies imported from the European Union are "legitimate trade remedy measures", the commerce ministry said on Wednesday, a day after imposing the temporary curb. French brands such as Hennessy and Remy Martin will face the strictures, adopted just days after the 27-nation bloc voted for tariffs on Chinese-made electric v
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Reuters - 1 month ago

Imperial Brands, Kingfisher, Nestle SA

EUROPE RESEARCH ROUNDUP-Imperial Brands, Kingfisher, Nestle SA Oct 9 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including Imperial Brands , Kingfisher and Nestle SA, on Wednesday. HIGHLIGHTS * Aixtron AIXGn.DE : Deutsche Bank cuts to hold from buy * ING INGA.AS : Deutsche Bank cuts to hold from buy * Imperial Brands IMB.L : JP Morgan raises target price to 2,600p from 2,250p * Kingfisher KGF.L : HSBC raises target price to 360p from 305
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