Treasury cites 'deep discounting' break for sales drop
Treasury cites 'deep discounting' break for sales drop
Sep 22, 2011 6
(Decanter) - Treasury Wine Estates, the wine division of brewing giant Foster's, has reported a fall in sales volumes in its first year as a standalone operation. One of the reasons could be the break with heavy promotional offers and deep discounting, Treasury Wine Estates'CEO said.
Sales at the newly-formed company, owners of brands including Penfolds, Stags' Leap and Wolf Blass, have dropped by more than 6% in the first half of this year.
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