Australia’s Treasury Wine Estates flags inflation headwinds, shares drop
(Reuters) – Australia’s Treasury Wine Estates warned on Thursday that inflation was squeezing demand for its commercial-grade wine and driving up packaging costs, sending its shares nearly 8% lower. The winemaker flagged challenging market conditions and consumption outlook for commercial wine, most notably in Australia and the UK, and said it was undertaking a review of its supply chain particularly in Australia. It is also considering divestiture of selected assets, […]