Treasury Wine Estates targets cuts amid US, China woes

Recently installed Treasury Wine Estates CEO Sam Fischer is bringing in a “transformation programme” that will include a review of products and cost cuts at the Australian wine major. Shares in Treasury Wine Estates (TWE) sank to their lowest level in a decade today (17 December) after the Penfolds maker’s update, which included cancelling a stock buy-back. Fischer, who joined in October, said: “We are currently experiencing category weakness in the US and China, two of our key growth markets, which wil ...