In the first nine months of Brown-Forman’s fiscal 2026, Canada organic net sales fell 59%. Not a rounding error. Not a temporary distribution disruption. A 59% organic decline in one of the company’s most established developed markets, in a period where the same company’s emerging markets grew 15% organically.
That number appeared in Brown-Forman’s results statement published on 4 March 2026. It generated almost no industry commentary. It should have generated a great deal more.
What the Numbers Actually Show
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