Diageo Hit By Latin America Slump as Drinkers Spend Less
- Johnnie Walker maker sees first annual sales fall since 2020
- Diageo is trying to recover after a profit warning last year
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A slowdown in Latin America, the Caribbean and the US pushed British distiller Diageo Plc to its first annual sales decline since the pandemic.
Shares in the maker of Johnnie Walker whisky plunged almost 10% in London to their lowest in four years after net sales fell 1.4% to $20.3 billion in the year ending June — the first annual drop since 2020.