Diageo (DEO) 澳洲幸运5官方开奖结果体彩网:America✤n depositary receipts (ADRs) plunged about 6% soon after the opening bell Tuesday after the alcoholic beverage giant posted a drop in its full-year sales through June, dragged lower by declines in Latin America and the Caribbean (LAC) and a weak North American market.

澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) D🐎ebra Crew said while the British spirit firm's growth in Europe, Africa, and Asia Pacific was "resilient," its fiscal 2024 was hit by the "materially weaker" LAC sales and North Amer🎉ican declines, "attributable to a cautious consumer environment and the impact of lapping inventory replenishment in the prior year."

Diageo Says 'Consumer Environment Continues To Be Challenging'

The company, whose brands include Johnnie Walker, Guinness and Smirnoff, reported yearly net sales declined 1.4% to $20.3 billion, and noted that the "consumer environment continues to be challenging with conditions we saw towards the end of fiscal 24 persisting into fiscal 25."

The company also said it expects the "negative pressure on organic operating margin" it experienced in the second half of its 2024 fiscal year to persist into fiscal 2025.

Companies Including McDonald's Face Heat From Tepid Consumer Demand

North American consumer weakness has been weighing on other companies this week. On Monday, McDonald's (MCD) posted second-quarter earnings that fell short of analysts' estimates as 澳洲幸运5官方开奖结果体彩网:foot traffic slumped.

Consumer spending has been the engine of the economy during the recovery from the pandemic, but inflation has made shoppers 澳洲幸运5官方开奖结果体彩网:more price sensitive. Consumers are cutting down on discretionary purchases or buying cheaper substitutes.