Latest news with #FrenchChampagne
Reuters
5 days ago
- Business
- Reuters
Becle's stock surges after world's top tequila maker profit jumps
MEXICO CITY, July 24 (Reuters) - Shares in Becle ( opens new tab, the world's largest tequila producer, surged over 7% on Thursday after it reported a quadrupling in its second-quarter profit despite shrinking demand, and as executives indicated signs of recovery in the company's main markets. Becle, which makes the bulk of its income from Jose Cuervo family tequilas as well as a range of mezcals, vodkas, gins and whiskeys, saw close to 900,000 shares change hands the day after it reported results, which surpassed analysts' forecasts. Analysts responded positively to better-than-expected profit margins as the company benefited from a weaker peso, which boosted its peso-denominated U.S. sales, lower input costs and a long-standing strategy to position itself in more upmarket brands. Becle's margin on earnings before interest, taxes, depreciation and amortization jumped to 23.4% from 20.7% a year ago, even as net sales dipped 6% as the Mexican distiller shipped less volumes in all its foreign markets. "For the longer term, we wonder if the 25% EBITDA margins of yesteryear are a desert mirage or not," analysts at Scotiabank said in a note, pointing out that industry data showed a fast-paced worldwide plunge in thirst for spirits, notably in the United States where trade association numbers "tell a dire story." Analysts have attributed slowing demand to de-stocking following pandemic stockpiling, customers tightening wallets amid higher costs, a shift to pre-mixed canned options and other trends such as legal cannabis and health concerns. Becle, which also sells canned cocktails and non-alcoholic drinks, remains "resilient amid industry plunge," Scotiabank said, noting the company was selling off aging spirits it distilled when prices for agave - the spiked plant whose kernels are used to make tequila and smokier mezcal - were higher. Speaking in a call with analysts, CEO Juan Domingo Beckmann said Becle would focus on speeding U.S. growth in the second half of 2025. Becle makes some 60% of its net sales in the U.S. and Canada, and 25% in Mexico. "Encouraging early signs of recovery in key markets, alongside sustained demand for high-quality authentic brands, support a more constructive outlook ahead," Beckmann said. Speaking on the latest U.S. tariff threats, Becle's U.S. and Canada managing director, Mauricio Vergara, said trade remained stable under the existing frameworks and "to date, no significant material regulatory changes have occurred." Vergara said he still expected "near-term volatility to persist" as the industry adjusts to ongoing challenges. U.S. Commerce Secretary Howard Lutnick on Sunday signaled that the latest tariff threats should exempt goods covered by the North American free trade pact - such as tequila. Products named tequila or mezcal are protected by origin, like French Champagne, and must be made in Mexico. The on-and-off tariff threats have hit small-scale distillers hardest, as potential tariff hikes in a key market threaten long-term hiring and re-stocking plans. Agave plants take up to 10 years to harvest and higher-end, deeper-flavored aged tequilas can spend years in the barrel. Though tariff threats battered Becle's stock earlier in 2025, it ended Thursday up 0.55% from January. ($1 = 18.5733 Mexican pesos)
Yahoo
29-05-2025
- Business
- Yahoo
Cost-cutting tips for planning a wedding in a time of new tariffs
Weddings in the United States are often dependent on goods imported from countries hit with new tariffs. Vendors and engaged couples are navigating higher prices and supply worries after President Donald Trump went to war over trade around the globe. Exports from dozens of countries, including major centers for goods such as cut flowers, wedding gowns, and decorations, are now subject to extra taxes when they reach the U.S. Wedding professionals see potential for pivots to alternative sources. Some recommendations for people who are planning a wedding while the tariff situation remains in flux: Buy local. Buy from non-tariff countries. Buy used. Buy from vendors that promise not to pass on the new taxes. Some businesses are breaking out line items stating what new costs they're imposing on consumers. Some are not. Without that information, it's harder to gauge quality by price. Does something cost $25 because it's worth $25 or because it's a $10 item with a huge markup slapped on? Dig into reviews if buying online. If buying offline, take an up-close look at textiles, candles, and other goods. Katie Sexton in Chicago is a project manager for an international e-commerce shipping company. She's also getting married in June 2026. She has warehouse-size thoughts on getting around tariffs. The best bet to see the full pricing picture of an item is to find brands that are shipping it from within the U.S., she said. A company doing that will most likely have adjusted their prices higher already to include the tariff cost they incurred upon importing to the warehouse. That means fewer surprises at checkout. Transparency is a friend as the tariff drama plays out. Weddings are often heavy on rentals of all kinds: tables, chairs, linens, glassware, dinnerware, dance floors, lighting, and tents. And companies special-order items all the time. Tariff uncertainty has complicated custom orders because of pricing instability a year or more before a wedding, said Morgan Montgomery, co-owner of the rental company Paisley and Jade in Richmond, Virginia. She buys rental items from China. 'If they wait to make a decision now, we will need to re-quote, as our suppliers are tweaking prices constantly,' she said. The solution? Work with the existing inventory of your vendor, even if it stifles your creative vision. Vijay Goel, co-owner of Los Angeles venue 440 Elm and caterer Bite Catering Couture, is among wedding vendors pointing to the need to tweak contracts. He recommends booking for rental goods with a substitution clause. That would allow a couple to switch to something else if the price of an item rises closer to their wedding date. 'Maybe Napa sparkling wines will make more sense than French Champagne? Select vendors that have a flexible mindset and the ability to help you navigate choices,' Goel said. No crystal ball required. Jaime Coast, who designs wedding invitations and other stationery as the owner of the online shop Cotton and Bow, recently had clients in the U.S. get married in Canada. They needed paper goods shipped to their wedding planner before their big day. 'I tried to estimate what the taxes would be in advance on the Canadian government website, but the calculators hadn't been updated yet. What was estimated to be a $60 bill turned into a $500 bill upon pickup,' she said. Her tip? Bring items with you when possible and avoid shipping altogether. Kimberly Sisti, owner, lead florist, and wedding planner for Sisti & Co. in San Diego, said prices are already out of control. And that includes U.S. growers who are seeing higher demand and may be taking advantage of tariff chaos by raising prices. She has an unusual tip: Look for a florist whose prices already well exceed business costs. 'If you have a healthy markup on your labor and goods, then a 10% tariff shouldn't break the bank and affect your customers at all,' she said. 'In fact, you can probably absorb the cost and keep your clients confident and happy.'
Hamilton Spectator
29-05-2025
- Business
- Hamilton Spectator
Tips for planning a wedding at a time of new tariffs
NEW YORK (AP) — Weddings in the United States are often dependent on goods imported from countries hit with new tariffs. Vendors and engaged couples are navigating higher prices and supply worries after President Donald Trump went to war over trade around the globe. Exports from dozens of countries, including major centers for goods such as cut flowers, wedding gowns and decorations, are now subject to extra taxes when they reach the U.S. Wedding professionals see potential for pivots to alternative sources. Some recommendations for people who are planning a wedding while the tariff situation remains in flux: TIP: Rethink how you buy Buy local. Buy from non-tariff countries. Buy used. Buy from vendors that promise not to pass on the new taxes. Some businesses are breaking out line items stating what new costs they're imposing on consumers. Some are not. Without that information, it's harder to gauge quality by price. Does something cost $25 because it's worth $25 or because it's a $10 item with a huge markup slapped on? Dig into reviews if buying online. If buying offline, take an up-close look at textiles, candles and other goods. TIP: A warehouse by any other name ... Katie Sexton in Chicago is a project manager for an international e-commerce shipping company. She's also getting married in June 2026. She has warehouse-size thoughts on getting around tariffs. The best bet to see the full pricing picture of an item is to find brands that are shipping it from within the U.S., she said. A company doing that will most likely have adjusted their prices higher already to include the tariff cost they incurred upon importing to the warehouse. That means fewer surprises at checkout. Transparency is a friend as tariff drama plays out. TIP: Work with existing inventory Weddings are often heavy on rentals of all kinds: tables, chairs, linens, glassware, dinnerware, dance floors, lighting, tents. And companies special order items all the time. Tariff uncertainty has complicated custom orders because of pricing instability a year or more before a wedding, said Morgan Montgomery, co-owner of the rental company Paisley and Jade in Richmond, Virginia. She buys rental items from China. 'If they wait to make a decision now, we will need to re-quote, as our suppliers are tweaking prices constantly,' she said. The solution? Work with the existing inventory of your vendor, even if it stifles your creative vision. TIP: Think long and hard about contracts Vijay Goel, co-owner of Los Angeles venue 440 Elm and caterer Bite Catering Couture, is among wedding vendors pointing to the need to tweak contracts. He recommends booking for rental goods with a substitution clause. That would allow a couple to switch to something else if the price of an item rises closer to their wedding date. 'Maybe Napa sparkling wines will make more sense than French Champagne? Select vendors that have a flexible mindset and the ability to help you navigate choices,' Goel said. No crystal ball required. TIP: Is it a destination wedding? Pack it rather than ship it Jaime Coast, who designs wedding invitations and other stationary as owner of the online shop Cotton and Bow, recently had clients in the U.S. get married in Canada . They needed paper goods shipped to their wedding planner before their big day. 'I tried to estimate what the taxes would be in advance on the Canadian government website, but the calculators hadn't been updated yet. What was estimated to be a $60 bill turned into a $500 bill upon pickup,' she said. Her tip? Bring items with you when possible and avoid shipping altogether. TIP: Not all flowers are created equal Kimberly Sisti, owner, lead florist and wedding planner for Sisti & Co. in San Diego, said prices are already out of control. And that includes U.S. growers who are seeing higher demand and may be taking advantage of tariff chaos by raising prices. She has an unusual tip: Look for a florist whose prices already well exceed business costs. 'If you have a healthy markup on your labor and goods, then a 10% tariff shouldn't break the bank and affect your customers at all,' she said. 'In fact, you can probably absorb the cost and keep your clients confident and happy.'
San Francisco Chronicle
28-05-2025
- Business
- San Francisco Chronicle
Tips for planning a wedding at a time of new tariffs
NEW YORK (AP) — Weddings in the United States are often dependent on goods imported from countries hit with new tariffs. Vendors and engaged couples are navigating higher prices and supply worries after President Donald Trump went to war over trade around the globe. Exports from dozens of countries, including major centers for goods such as cut flowers, wedding gowns and decorations, are now subject to extra taxes when they reach the U.S. Wedding professionals see potential for pivots to alternative sources. Some recommendations for people who are planning a wedding while the tariff situation remains in flux: TIP: Rethink how you buy Buy local. Buy from non-tariff countries. Buy used. Buy from vendors that promise not to pass on the new taxes. Some businesses are breaking out line items stating what new costs they're imposing on consumers. Some are not. Without that information, it's harder to gauge quality by price. Does something cost $25 because it's worth $25 or because it's a $10 item with a huge markup slapped on? Dig into reviews if buying online. If buying offline, take an up-close look at textiles, candles and other goods. Katie Sexton in Chicago is a project manager for an international e-commerce shipping company. She's also getting married in June 2026. She has warehouse-size thoughts on getting around tariffs. The best bet to see the full pricing picture of an item is to find brands that are shipping it from within the U.S., she said. A company doing that will most likely have adjusted their prices higher already to include the tariff cost they incurred upon importing to the warehouse. That means fewer surprises at checkout. Transparency is a friend as tariff drama plays out. TIP: Work with existing inventory Weddings are often heavy on rentals of all kinds: tables, chairs, linens, glassware, dinnerware, dance floors, lighting, tents. And companies special order items all the time. Tariff uncertainty has complicated custom orders because of pricing instability a year or more before a wedding, said Morgan Montgomery, co-owner of the rental company Paisley and Jade in Richmond, Virginia. She buys rental items from China. 'If they wait to make a decision now, we will need to re-quote, as our suppliers are tweaking prices constantly,' she said. The solution? Work with the existing inventory of your vendor, even if it stifles your creative vision. TIP: Think long and hard about contracts Vijay Goel, co-owner of Los Angeles venue 440 Elm and caterer Bite Catering Couture, is among wedding vendors pointing to the need to tweak contracts. He recommends booking for rental goods with a substitution clause. That would allow a couple to switch to something else if the price of an item rises closer to their wedding date. 'Maybe Napa sparkling wines will make more sense than French Champagne? Select vendors that have a flexible mindset and the ability to help you navigate choices,' Goel said. No crystal ball required. TIP: Is it a destination wedding? Pack it rather than ship it Jaime Coast, who designs wedding invitations and other stationary as owner of the online shop Cotton and Bow, recently had clients in the U.S. get married in Canada. They needed paper goods shipped to their wedding planner before their big day. 'I tried to estimate what the taxes would be in advance on the Canadian government website, but the calculators hadn't been updated yet. What was estimated to be a $60 bill turned into a $500 bill upon pickup,' she said. Her tip? Bring items with you when possible and avoid shipping altogether. TIP: Not all flowers are created equal Kimberly Sisti, owner, lead florist and wedding planner for Sisti & Co. in San Diego, said prices are already out of control. And that includes U.S. growers who are seeing higher demand and may be taking advantage of tariff chaos by raising prices. She has an unusual tip: Look for a florist whose prices already well exceed business costs. 'If you have a healthy markup on your labor and goods, then a 10% tariff shouldn't break the bank and affect your customers at all," she said. "In fact, you can probably absorb the cost and keep your clients confident and happy.'
The Hill
28-05-2025
- Business
- The Hill
Tips for planning a wedding at a time of new tariffs
NEW YORK (AP) — Weddings in the United States are often dependent on goods imported from countries hit with new tariffs. Vendors and engaged couples are navigating higher prices and supply worries after President Donald Trump went to war over trade around the globe. Exports from dozens of countries, including major centers for goods such as cut flowers, wedding gowns and decorations, are now subject to extra taxes when they reach the U.S. Wedding professionals see potential for pivots to alternative sources. Some recommendations for people who are planning a wedding while the tariff situation remains in flux: Buy local. Buy from non-tariff countries. Buy used. Buy from vendors that promise not to pass on the new taxes. Some businesses are breaking out line items stating what new costs they're imposing on consumers. Some are not. Without that information, it's harder to gauge quality by price. Does something cost $25 because it's worth $25 or because it's a $10 item with a huge markup slapped on? Dig into reviews if buying online. If buying offline, take an up-close look at textiles, candles and other goods. Katie Sexton in Chicago is a project manager for an international e-commerce shipping company. She's also getting married in June 2026. She has warehouse-size thoughts on getting around tariffs. The best bet to see the full pricing picture of an item is to find brands that are shipping it from within the U.S., she said. A company doing that will most likely have adjusted their prices higher already to include the tariff cost they incurred upon importing to the warehouse. That means fewer surprises at checkout. Transparency is a friend as tariff drama plays out. Weddings are often heavy on rentals of all kinds: tables, chairs, linens, glassware, dinnerware, dance floors, lighting, tents. And companies special order items all the time. Tariff uncertainty has complicated custom orders because of pricing instability a year or more before a wedding, said Morgan Montgomery, co-owner of the rental company Paisley and Jade in Richmond, Virginia. She buys rental items from China. 'If they wait to make a decision now, we will need to re-quote, as our suppliers are tweaking prices constantly,' she said. The solution? Work with the existing inventory of your vendor, even if it stifles your creative vision. Vijay Goel, co-owner of Los Angeles venue 440 Elm and caterer Bite Catering Couture, is among wedding vendors pointing to the need to tweak contracts. He recommends booking for rental goods with a substitution clause. That would allow a couple to switch to something else if the price of an item rises closer to their wedding date. 'Maybe Napa sparkling wines will make more sense than French Champagne? Select vendors that have a flexible mindset and the ability to help you navigate choices,' Goel said. No crystal ball required. Jaime Coast, who designs wedding invitations and other stationary as owner of the online shop Cotton and Bow, recently had clients in the U.S. get married in Canada. They needed paper goods shipped to their wedding planner before their big day. 'I tried to estimate what the taxes would be in advance on the Canadian government website, but the calculators hadn't been updated yet. What was estimated to be a $60 bill turned into a $500 bill upon pickup,' she said. Her tip? Bring items with you when possible and avoid shipping altogether. Kimberly Sisti, owner, lead florist and wedding planner for Sisti & Co. in San Diego, said prices are already out of control. And that includes U.S. growers who are seeing higher demand and may be taking advantage of tariff chaos by raising prices. She has an unusual tip: Look for a florist whose prices already well exceed business costs. 'If you have a healthy markup on your labor and goods, then a 10% tariff shouldn't break the bank and affect your customers at all,' she said. 'In fact, you can probably absorb the cost and keep your clients confident and happy.'
