There were a lot of fascinating numbers to glean from Brown-Forman’s latest fiscal results, including some encouraging trends and some cause for concern. But one statistic really stood out from the drinks giant’s 2024 fiscal report, which ended on July 31 of this year: Americans love canned Jack and Coke. Per Drinks Digest, Brown-Forman CEO Lawson Whiting told analysts that the Jack Daniel’s and Coca-Cola RTD launch had been the most successful launch in Brown-Forman history in the United States; it’s already achieved the second highest level of off-premise distribution across the portfolio (behind Jack Daniel’s Tennessee Whiskey).
“It’s got 2% share already, and it’s only been [in the market for] three or four months,” Whiting told analysts this week. “So it’s off to a good start, and we feel pretty good about it. And I think the long-term potential is exciting and a lot of things that it does for the health of the brand, along with the actual business proposal itself.”
Tequila and Canned Cocktails Are Pretty Much Fueling the Booze Industry NowA year-end study on alcohol sales in the U.S. shows very few category gains — and some concern for Scotch, Cognac and gin fans
And that success might make up for some other dips in the market. While overall net sales from Brown-Forman products grew 3%, net sales in the United States decreased by 8% because of supply chain and inventory issues but also from some flat or lower domestic whiskey sales. That said, some aspects of the company are booming. Jack Daniel’s Tennessee Apple, for example, reported net sales growth of 49% (!), and some premium Jack Daniel’s products (Sinatra, Bonded) experienced growth (numbers weren’t listed for those, however). Tequila brands like El Jimador and ready-to-drink cocktails like New Mix showed strong growth, and newly acquired brands Gin Mare and Diplomatico increased the company’s net sales by two percent.
Overall, Brown-Forman’s results seem to mirror a lot of trends. Drinkers are craving canned cocktails and tequila, while some whiskey styles (at least in the United States) might be peaking — but premium and flavored whiskey show room for growth. And American whiskey is having a moment overseas, with the UAE and Poland cited in the Brown-Forman results.
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