Treasury Wine Sees FY Earnings Falling to A$480 Million as It Doubles Down on Luxury
Updated
Updated · Bloomberg · Jun 4
Treasury Wine Sees FY Earnings Falling to A$480 Million as It Doubles Down on Luxury
1 articles · Updated · Bloomberg · Jun 4
Summary
Treasury Wine Estates told investors it expects fiscal-year earnings of A$480 million to A$490 million for the year ending June, sharply below the prior year's A$770 million.
The Australian winemaker said the weaker outlook comes as it prioritizes shoring up key markets and strengthening its position in higher-end wines.
Penfolds owner Treasury Wine is leaning further into its luxury portfolio, signaling a strategy shift toward premium brands even as near-term profit declines.