Campari Shares Drop on Slower North American Sales

Campari, the Italian spirits company behind brands like Wild Turkey and Grand Marnier, saw its shares drop as much as 7.5% in European trading. The decline followed an unexpected slowdown in North American sales, which fell 2% compared to expectations of a 2.7% increase. Despite this, the company reported third-quarter sales of 777 million euros, surpassing the Bloomberg Consensus estimate of 761.8 million euros. The growth in Europe and developing markets helped offset the North American weakness, allowing Campari to maintain its full-year organic net sales growth forecast of about 3%.