BF-B · 8-K · 20260902PR000048

Geographic Market Commentary

BROWN FORMAN CORP · 2026-09-02 · Importance 25 · Surprise 32

U.S. net sales declined 3% reported but were flat organically, reflecting the end of the Korbel relationship, lower distributor inventories, and lower Jack Daniel’s Tennessee Blackberry volumes; higher Tennessee Whiskey volumes and the JDCC transition partly offset these factors. Developed International net sales fell 6% reported and 8% organically, including lower Jack Daniel’s Tennessee Whiskey volumes in Germany, France, and Spain. Emerging-market net sales rose 11% reported and 9% organically, led by Mexico, where New Mix fueled growth. Travel Retail net sales declined 1%, with lower Gin Mare volumes partly offset by the Tennessee Blackberry launch.

Key facts

• First-quarter fiscal 2027 Travel Retail net sales declined 1% (1% organic), amid Middle East geopolitical headwinds; lower Gin Mare volumes were partially offset by the Jack Daniel’s Tennessee Blackberry launch. source