Pursuits
Remy Revenue Misses Estimates on Weak Chinese Cognac Orders
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French distiller Remy Cointreau SA reported first-quarter sales that missed analyst estimates as Chinese wholesalers continued to hold back on cognac orders.
Sales fell 9 percent on an organic basis in the three months through June, the Paris-based company said in a statement Tuesday. Analysts expected a 5.4 percent decline. The stock fell as much as 4 percent.