Sales of wine in the United States for Foster’s wine spin-off Treasury Wine Estates Limited
(ASX:TWE) dropped by five per cent in the 13 weeks to December 10.
The value of sales declined six per cent, but chief executive David Dearie did warn in November that it would take six months for Treasury to reverse trends.
Investment bank Goldman Sachs says Treasury's premium wines however have recorded strong growth, with a 24 per cent increase in the value of sales and a 16 per cent jump in the number of sales.
Treasury Wine Estates Limited
(ASX:TWE) reported a net profit of $64.4 million last year.
