Brown-Forman's sales in line

Investor's Business Daily

The maker of Jack Daniel's whiskey, Southern Comfort and other brands of alcoholic beverages said fiscal Q2 EPS rose 9.6% to 80 cents, beating views by 2 cents. Sales of $1.013 bil were in line with last year's figure. Brown-Forman (BF-B) said results were hurt by costs to get buy-ins in advance of planned Jan. price hikes, as well as the impact from unfavorable foreign exchange rates. It expects full-year profit of $2.58-$2.70 a share, the midpoint missing views for $2.66. Shares fell 0.5% to 68.43.

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