Diageo Plunges as Johnnie Walker Maker Posts LatAm, North American Weakness

Diageo American depositary receipts (ADRs) are plunging Tuesday as its full-year sales through June were dragged lower by declines in Latin America and the Caribbean (LAC) and a weak North American market. CEO Debra Crew said Europe, Africa, and Asia Pacific growth was "resilient," but "materially weaker" LAC sales and a "cautious consumer environment" in North America weighed on results. The company, whose brands include Johnny Walker, Guinness and Smirnoff, reported yearly net sales declined 1.4% to $20.3 ...