Remy Cointreau Pulls 2029-30 Targets Amid Tariff Woes

Remy Cointreau has withdrawn its long-term sales targets for fiscal 2029-2030 due to ongoing tariff uncertainty in the U.S. and China and persistent weak sales in those markets. The French spirits maker, known for Remy Martin cognac and Cointreau liqueur, reported a 30.5% drop in annual organic operating profit, which was slightly better than analyst forecasts. The company aims to return to mid-single-digit organic sales growth by fiscal 2026, supported by a low comparison base after successive years of steep declines. Remy Cointreau warned that further tariff increases could severely affect profitability, and stated that the conditions needed to meet its previous long-term goals are no longer achievable. Recently appointed CEO Franck Marilly is expected to define a new strategic direction as the sector faces broader headwinds. The company's move aligns with industry peers like Diageo and Pernod Ricard, who have similarly withdrawn ambitious sales targets.