Remy Cointreau SA

French spirits company Remy Cointreau warned it expected sales to fall by around 50-55% in the first quarter of the 2020/21 fiscal year, due to wholesaler destocking in Greater China and a sharp slowdown in key European and American markets due to the coronavirus crisis.

* GROUP WILL PROPOSE TO ITS GENERAL MEETING TO GRANT A DIVIDEND OF EUR 1.00 PER SHARE FOR YEAR 2019/20

* ESTIMATED INITIAL IMPACT OF THE COVID 19 PANDEMIC ON THE RÉMY COINTREAU GROUP

Europe's biggest spirits companies could see a profit hit in the coming months from the Coronavirus outbreak, which is crimping tourism, retail and duty-free sales, and creating supply disruptions across China, according to a Moody's report.

Europe's biggest spirits companies could see a profit hit in the coming months from the Coronavirus outbreak, which is crimping tourism, retail and duty-free sales, and creating supply disruptions across China, according to a Moody's report.

Remy Cointreau <RCOP.PA> wiped almost half a billion dollars off its stock market value on Friday after posting a sharp drop in quarterly sales and warning over the potential impact of the coronavirus outbreak on demand for its premium cognac in China.

French spirits group Remy Cointreau posted a worse-than-expected 11.3% fall in third quarter like-for-like revenues, as demand for cognac in Hong Kong was impacted by protests in the region.

The departing boss of Remy Cointreau <RCOP.PA> said on Thursday she did not foresee any improvement soon in demand for cognac in Hong Kong where falling tourism tied to the political protests dented profit in the first half of the year.

Spirits group Remy Cointreau posted a worse-than-expected 4.7% decline in first-half like-for-like current operating profits, as protests in Hong Kong hurt premium cognac sales while promotional spending also dented its earnings.

French spirits maker Remy Cointreau <RCOP.PA> said falling tourism in Hong Kong hurt cognac sales in its second quarter, as a revenue decline deepened across the group.

French spirits maker Remy Cointreau said falling tourism in Hong Kong hurt cognac sales in its second quarter, as the group reported a decline in comparable revenue for the period.

French spirits group Remy Cointreau <RCOP.PA> said on Wednesday it had picked Richemont's <CFR.S> Eric Vallat as its new chief executive officer.

Remy Cointreau said it had started looking for a new chief executive, who it wanted to have a "good knowledge" of the spirits sector and/or a "recognised expertise" in luxury in order to continue a strategy focused on high-end brands.

French spirits group Remy Cointreau <RCOP.PA> on Thursday expressed confidence revenue would rise in the second quarter after a weak start to the year and said that it could deliver double-digit sales growth in China.

French spirits group Remy Cointreau said sales had declined 3% in the first quarter, reflecting the impact of well-flagged price increases and the termination of partner brand contracts in the Czech Republic, Slovakia and the United States.

Remy Cointreau <RCOP.PA> Chief Executive Valerie Chapoulaud-Floquet, the architect of its push toward higher-priced spirits to drive profit margins, will step down by the end of 2019 for personal reasons, the company said.

French spirits company Remy Cointreau said on Tuesday that Chief Executive Officer Valerie Chapoulaud-Floquet will step down by the end of 2019 for personal reasons.

Remy Cointreau handed investors a special dividend payout after reporting a stronger-than-expected 14% rise in annual operating profit, helped by cost cuts and robust demand for its premium cognacs in China.

Remy Cointreau handed investors a special dividend of one euros per share after its annual operating profits rose by a stronger-than-expected 14.2%, helped by cost controls and robust demand for its premium cognacs in China.