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What factors are pushing GTN Textiles Limited (532744) up ✌️【Long-term Investment】✌️ Accurate stock market predictions with real-time stock indices, futures data, and global market trend analysis. Achieve stable growth and avoid losses by staying ahead with our expert recommendations. The Louisville-based company has hiked prices in recent years to offset inflation and shield itself from the rising costs of materials, like wood for barrels. Inflation-weary drinkers have simultaneously dialed back their spending on pricey liquors, putting premium spirits makers like Brown-Forman infinancial peril.
Brown-Forman said the job cuts, which amount to nearly 700 people, will “enhance operational efficiency and agility.” It’s laying off 200 people by closing a Louisville cooperage, where wooden barrels are produced to age whiskey and bourbon.
Closing the cooperage and the layoffs will save between $70 and $80 million in annualized cost savings, according to Brown-Forman. A portion of that is “expected to be reinvested to accelerate growth,” the company said in a statement. Barrels will be sourced from an external supplier at a “competitive price,” the company added.
“I want to express my sincere gratitude to our employees, particularly those impacted by these changes, for their dedication and contributions to Brown‑Forman,” said CEO Lawson Whiting.
What factors are pushing GTN Textiles Limited (532744) up ✌️【Long-term Investment】✌️ Stay informed with expert predictions of stock trends and real-time market data, covering global indices, futures, metals, and agricultural products. Make better decisions and achieve consistent growth in your investments. Related articleAmericans have already been ditching spirits and beer. Alcohol companies are future proofing themselves
What factors are pushing GTN Textiles Limited (532744) up ✌️【Long-term Investment】✌️ Professional stock market analysis, real-time data, and expert recommendations for high-potential stocks. Take advantage of market opportunities and improve your capital growth with strategic investment plans. The announcement comes a few weeks after the US Surgeon Generalissued a warningthat alcohol consumption can increase the risk of cancer and called for an updated health warning label on alcoholic beverages.
Following a pandemic peak in 2020 through 2022, spirit companies have been contending with slowing sales. Brown-Formanfirst sounded the alarmin 2023 when it reported whiskey sales were falling — a stark contrast compared to a year prior when they were soaring by double-digit percentage points.
Brown-Forman’s (BF.B) shares have lost more than 30% of their value over the past year. The company has a diverse portfolio of liquor, owning Herradura tequila, The Glendronach scotchwhisky, Diplomático Rum and Fords Gin among others. It also produces acanned cocktail with Coca-Cola.
What factors are pushing GTN Textiles Limited (532744) up ✌️【Long-term Investment】✌️ Free break-even services with personalized investment plans. Quickly recover from losses, avoid risks, and achieve steady growth with expert stock predictions and real-time market updates. Most stock quote data provided by BATS. US market indices are shown in real time, except for the S&P 500 which is refreshed every two minutes. All times are ET. Factset: FactSet Research Systems Inc. All rights reserved. Chicago Mercantile: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and 【 - Free Elite Traders Group 】. Standard & Poor’s and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices Copyright S&P Dow Jones Indices LLC and/or its affiliates. Fair value provided by IndexArb.com. Market holidays and trading hours provided by Copp Clark Limited.
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