Cuervo Price Increases Drag Sales in Q2

In its second quarter Jose Cuervo was still feeling the effects from earlier price increases on its namesake brand. In the US and Canada, where it operates as Proximo Spirits, portfolio volumes were down 13% and sales were down 12.2% for the quarter ended June 30. However, Proximo Spirits chief Mark Teasdale said they are "now seeing the plateau on pressures of the price increases" in this morning's earnings call.

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