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Fevertree Drinks Plc said the U.K.’s retail slump is weighing on sales of its high-end mixers and will hold back growth for the full year.
- The company expects annual revenue of 266 million to 268 million pounds ($343 million to $346 million). Analysts have estimated sales of 275 million pounds, on average, according to data compiled by Bloomberg.
Key Insights
- Fevertree’s report shows how even trendy drink mixers are suffering from the depressed retail scene in the U.K., where consumers are shifting online and Brexit concerns are holding back spending.
- The company has been expanding its overseas presence in an effort to lessen its dependence on the U.K. It said growth in the U.S. and Europe is accelerating.
- Britons may be shopping less but they’re still going out: Bars and restaurants continue to do well despite the weakness in retail sales, the company said.
Market Reaction
- The shares are down 15% this year.
Get More
- For more on the report, click here.
- To read the statement, click here.
To contact the reporter on this story: Eric Pfanner in London at epfanner1@bloomberg.net
To contact the editors responsible for this story: Eric Pfanner at epfanner1@bloomberg.net, Marthe Fourcade
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