Diageo defies sector gloom as Remy Cointreau scraps 2030 targets

  • Drinks giant Diageo PLC (LSEGE) opened higher on Wednesday, appearing unfazed by a profit warning from French rival Remy Cointreau, which abandoned its long-term growth targets due to persistent weakness in key markets and the impact of tariffs. Remy, best known for its cognac and Cointreau liqueur, said its 2030 sales ambitions were no longer achievable, citing continued sluggish demand in the US, ongoing pressure in China, and trade tariffs on its flagship cognac.