Jack Daniel’s Tennessee Whiskey
Jack Daniel’s maker Brown-Forman on Wednesday fell short of Wall Street expectations for its first quarter of fiscal 2024, plagued by lagging whiskey sales, supply challenges and a significant inventory rebuild.
Net sales for whiskey products decreased by 1%, led by the brands Woodford Reserve and Gentleman Jack. Sales for Jack Daniel’s Tennessee Whiskey were flat, the company said, due to lower distributor inventories across the United States.
“As anticipated, our first quarter growth was impacted by the difficult shipment comparison from fiscal 2023, when we rebuilt inventory impacted by prior glass supply challenges,” said Lawson Whiting, CEO…