• About
  • Advertise
  • Careers
  • Contact Us
Thursday, June 26, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Economy Finance

Guinness Maker Diageo Cuts Sales Target Amid Concerns Over Trump Tariffs

by Destiny Eseaga
February 6, 2025
in Finance
0
Guinness Nigeria Announces Retirements, Appointments of Board Members
UBA
Advertisements

Diageo, the maker of Guinness stout and Johnnie Walker whisky, scrapped Tuesday a key sales target with President Donald Trump’s tariff plans set to sour its US sales of tequila.

The British group, whose brands include also Smirnoff vodka, Baileys liqueur, and Captain Morgan rum, has in recent times been impacted by inflation-suffering consumers swapping its premium brands for cheaper beverages.

In an update Tuesday, Diageo said that “given the current macroeconomic and geopolitical uncertainty in many” key markets, medium-term guidance for organic net sales growth of 5-7 percent had been axed.

Trump’s moves to slap levies on imports from Canada, China, and Mexico — while threatening to do the same across Europe — adds “complexity in our ability to provide updated forward guidance”, Diageo chief executive Debra Crew said in a statement that revealed a fall in first-half net profit.

She added that Diageo is engaging with the Trump administration on the broader impact that the tariffs “will have on everyone supporting the US hospitality industry”.

Trump on Monday delayed the start of tariffs on Mexico and Canada for a month — but China remained in the firing line for levies that are putting the global economy on edge.

China retaliated Tuesday, announcing that it would impose tariffs on imports of US energy, vehicles, and equipment.

Diageo said the tariffs would hit its tequila portfolio, given it must be made in Mexico, as well as Canadian whisky.

It added Tuesday that group net profit slid 12 percent to $1.9 billion in its first half or six months to the end of December.

Sales dipped one percent to $10.9 billion compared with one year earlier.

Loading

Advertisements
MTN ADS

Author

  • Destiny Eseaga

    My name is Destiny Eseaga, a communication strategist, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader world context. My passion lies in the world of finance, particularly, capital markets, investment banking, market intelligence, etc

    View all posts
0Shares
Destiny Eseaga

Destiny Eseaga

My name is Destiny Eseaga, a communication strategist, journalist, and researcher, deeply intrigued by the political economy of Nigeria and the broader world context. My passion lies in the world of finance, particularly, capital markets, investment banking, market intelligence, etc

Next Post
Azubike Emodi Appointed MD/CEO, Chidi Okpala as Executive Director at Heirs Holdings

Azubike Emodi Appointed MD/CEO, Chidi Okpala as Executive Director at Heirs Holdings

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Shopify Moves U.S. Stock Listing to Nasdaq, Retains Toronto Stock Exchange Presence

Shopify Moves U.S. Stock Listing to Nasdaq, Retains Toronto Stock Exchange Presence

3 months ago
Nigeria Computer Society - NCS Muhammad Sirajo Aliyu on SmartEco 2024 - Remita | TSA

6 Reasons to Attend NCS “SmartEco 2024”

11 months ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.