Brown-Forman Corporation, the parent company of Jack Daniel's, has posted flat sales for the first quarter of its financial year, with the business saying that international trade tariffs impacted its performance, particularly in Europe.
The company posted net sales of $766 million for the period, while gross profit was down 5% to $498 million.
“Our first quarter results came in largely as anticipated considering the year-over-year drag from tariffs and timing of customer orders," commented Lawson Whiting, the company's president and chief executive.
