Pernod Ricard Battles Worsening Demand Slump in US, China

Pernod Ricard SA posted disappointing sales in the first half, weighed down by a prolonged slump in demand for spirits in the US and China.

Organic sales fell 5.9% in the first half of the year, the French Cognac maker said Thursday, more than the 5.7% drop forecast by analysts. It was also impacted by an unfavorable currency environment.