Campari Shares Slide as U.S. Sales Face Headwinds

The Milan-based group reported a 3.4% revenue increase for the third quarter, a figure that initially appeared resilient compared to broader industry trends. However, the internal data revealed a stark divergence: while Europe posted a robust 7.7% gain, North American sales slipped 2%. The company’s core aperitifs, led by Aperol and Campari bitters, maintained momentum, but the whiskey and rum division suffered a 10% decline.

Chief Executive Simon Hunt attributed the U.S. weakness to a combination of supply chain bottlenecks affecting brands like Russell’s Reserve and intense market competition hitting Wild Turkey. SKYY vodka also faced headwinds from broader macroeconomic pressures. Hunt signaled that the company intends to stabilize these lagging segments by leveraging existing distribution infrastructure in bars and restaurants, rather than initiating a total strategic overhaul.

Analysts remain cautious about whether this tactical adjustment will suffice. Theodore Duval-Segard of Baader Europe emphasized that the widening performance gap across categories demands sharper portfolio execution. Meanwhile, Jefferies analyst Edward Mundy suggested that the company’s flagship Aperol brand must return to double-digit growth to satisfy investor expectations for a faster recovery.