Treasury Wine Estates today (15 December) requested a pause in the trading of its shares on the Australian Securities Exchange, ahead of a planned update to its outlook. In a statement, the Penfolds winemaker said it had asked for the trading halt to be "effective immediately". TWE said it was preparing for an investor and analyst call in two days' time, "which will include information regarding the company's outlook". The group has requested the pause to run "until the earlier of the commencement of n ...

Core Viewpoint - Treasury Wine Estates has withdrawn its earnings guidance for 2026 and paused a planned A$200 million ($130 million) share buyback due to weak sales of its Penfolds wines in China and distribution challenges in the U.S. [1][5] Group 1: Sales Performance - Sales of Penfolds in China have been weaker than expected, attributed to changing alcohol consumption habits and fewer large-scale banqueting occasions [2][3] - The company indicated that if current performance trends continue, Penfolds depletions targets for fiscal 2026 in China are unlikely to be achieved [3] Group 2: Financial Impact - The withdrawal of guidance for Penfolds in FY26 and FY27 reflects high uncertainty in the Chinese market [4] - The transition to a new distributor in the U.S. is expected to result in a loss of around A$50 million in sales, with ongoing negotiations over approximately A$100 million of inventory held by the previous distributor [5] Group 3: Strategic Response - Treasury is implementing several initiatives to mitigate the impacts of a weaker Chinese market, including reallocating products to select customers in other key markets [6]