Pernod Ricard’s U.S. Sales Dropped by 14 Percent Since Last Year
A few months ago, Pernod Ricard was in talks with Brown-Forman about a possible merger or acquisition. That never materialized, and now the latest news from the French drinks company is its annual report saying that sales are expected to be down through 2029 based on poor figures in the U.S. and China—news that should not come as a surprise to those who have been following the whiskey market both here and abroad.
There are still those who claim that news about the global whiskey market slump is misinformed or not truly representative of the bigger picture. And while there are many moving pieces here, it’s hard to argue with the facts. Over the past few years, Jim Beam closed one of its major distilling campuses, Diageo and Brown-Forman have paused production at distilleries here and in Scotland, and MGP and Bardstown Bourbon Company have both scaled back production based on a decline in demand for contract distilling and an overall whiskey glut.
Add to this yesterday’s sales report from Pernod Ricard, the company that controls major brands like Jameson Irish whiskey, Absolut Vodka, Martell Cognac, and Jefferson’s Bourbon. According to a Reuters report, Pernod’s shares fell by 6 percent after the company’s CEO, Alexandre Ricard, told investors that he saw very little potential in America, its largest market, through 2029. “Noting the current softness in the U.S. market, we are projecting organic net sales growth, aiming to be, on average, close to the lower end of the +3% to +6% range over FY27 to FY29,” reads the report. Specifically, U.S. sales fell by 14 percent in the year ending on June 30, while Chinese sales fell by 19 percent, representing a decline in another important market.
Brands like Jameson, which just launched the new Distiller’s Batch expression here in the U.S., are doing better in other parts of the world. According to the Irish Times, Irish Distillers—the subsidiary of Pernod that produces Jameson, Redbreast, and Midleton Very Rare at the Midleton Distillery—said Jameson’s sales rose by nine percent in markets like India, even while net sales across its portfolio declined in 2026.
Pernod pointed to its scotch portfolio as a source of stability, with brands like Ballantine’s showing some growth and Chivas Regal maintaining its sales. It also said that tequila brand Codigo 1530 was growing globally, while its flavored whiskey, Skrewball, was declining in the U.S. but showing strength in other markets. “We are adapting our strategy to capture growth opportunities, and our operating model to meet changing circumstances including through our ongoing digital transformation to unlock further efficiencies,” concluded the report. “We are confident in the continued engagement of our teams and we remain focused to deliver sustainable value growth over time.”
