Campari's results miss expectations, uncertainty about tariffs weighed
Italian spirits group Campari, posted a decline in revenue and adjusted operating profit in the first quarter, well below analysts expectations, partly due to the uncertainty about U.S. tariffs in an already struggling sector. The maker of Aperol and Campari bitters said its net sales dropped to 666 million euros ($749 million) in the first three months of the year, at constant exchange rates and excluding acquisitions and disposals, also due to the timing of the Easter holiday. In the United States, the largest market for the group, sales were down 11%, as the threat of tariffs led to destocking as well as logistic delays.