31
Jul
Shares of Diageo, the renowned spirits maker behind Johnnie Walker, fell more than 10% on Tuesday after it reported its first annual sales decline since the pandemic began. By the end of the trading day, the shares had recovered some losses but still closed down 5.08%. The London-based company reported a 0.6% decline in organic net sales for the fiscal year ended June 30, attributed primarily to underperformance in Latin America and the Caribbean markets. Reported net sales fell 1.4%. Despite the overall downturn, Guinness emerged as a bright spot for Diageo. The iconic Irish stout, which has seen a…