date:Aug 29, 2014
Brown-Forman Corporation reported financial results for its first quarter ended July 31, 2014.
The company grew reported net sales1 3% to $921 million, an increase of 3% on an underlying basis2. As expected, net sales growth was impacted by the difficult comparison with the prior year period when sales benefited from significant distributor and retail buy-ins, related primarily to price increases. Reported operating income increased 1% to $221 million, an increase of 7% on an underlying basis.