Treasury Wine Estates Limited
|Company Name||Treasury Wine Estates Limited|
On January 28, 2020, the Company issued a press release announcing that “based on our revised full year forecast our growth rate in F20 will be lower than previously guided” driven by “underperformance in our US results.” Further, TWE noted that the "Americas reported a 17% decline in EBITS to $98.3m and an EBITS margin of 16.1%" due to a "loss of execution momentum" and "the persistence of challenging conditions in the US wine market.”
On this news, the Company’s American depositary receipt (“ADR”) price fell $1.33 per ADR, or 13%, to close at $8.83 per ADR on January 29, 2020.
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