Diageo Sees “Strong” Price Mix; Sales up 4%
After years of discounting and promotions during the recession, Diageo is changing its ways. Price/mix was up 5% in North America in the 6 months ending December 31, driven by stronger volume growth of its strategic brands and moderate price increases in the US, the company revealed today in its first half conference call. And "about one-third of [price/mix] was from price," said Ivan Menezes, president of North America. "I'm feeling good about the strength of our brands. We are building brand equity, our reinvestment rates are up, and so we are now able to steadily take price on our priority brands..
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