Guinness-maker Diageo cuts annual forecast on weak US and China demand

Sector continues to grapple with cooling post-pandemic demand, tariff-related uncertainty, and shifting consumer drinking habits

Guinness-maker Diageo has lowered its full-year outlook for sales and profit as weak demand in China and the US weighs on the British distiller.

The maker of Baileys and Johnnie Walker whisky now expects full-year organic net sales to be flat to slightly down, the company said Thursday, citing reduced consumption in China and a weaker-than-expected US consumer environment. It had previously forecast growth to be at a similar level to the prior year.