Pernod Ricard Shares Show Muted Response to Chinese Tariff Relief

A significant overhang that pressured Pernod Ricard for months has finally lifted, yet investor enthusiasm remains notably subdued. In a surprising turn of events, China’s Ministry of Commerce imposed anti-dumping duties on EU brandy imports this Friday but granted a crucial exemption for major producers, including Pernod Ricard. This development should have provided a substantial boost to the French spirits giant, which has endured a severe 21% sales decline in China during fiscal 2025. The muted market reaction, however, suggests a more complex narrative may be at play.

The timing of Beijing’s decision offers considerable relief. Pernod Ricard’s performance in China had been hampered by weak consumer demand and the persistent threat of new import duties, which collectively drove Read more...