Financials & Economy

The Australian wine group cited weaker Penfolds sales in China and US distribution changes for scrapping its fiscal 2026 profit outlook.

The restructuring aims to streamline operations and strengthen Heineken’s focus on digital transformation and global growth initiatives.

The luxury group’s wine and spirits division reported slight third-quarter growth, fueled by resilient Champagne demand and improved rosé wine sales.

The spirits maker faced sharp sales declines in the US and China, driven by inventory adjustments and economic headwinds.

Company issues new convertible notes and shares to manage heavy debt load