Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Friday, October 20, 2006
Remy Cointreau Pours A Stiff One
Remy Cointreau (REMYF) reported growth in sales of approximately 1.3% organic and 4.8% from their own brands. (Remy's wording) In particular the Champagne Department has done exceedingly well. The press release glossed over the overall decline in partner sales, which they attributed to discontinued distribution contracts. Absolutely no explanation as to what may be expected from this segment in the future and if there are more contracts that will be discontinued.