Australia's Treasury Wine dips despite Jefferies' upbeat earnings view
BUZZ-Australia's Treasury Wine dips despite Jefferies' upbeat earnings view Updates
** Shares of Australia's Treasury Wine Estates TWE.AX inch 0.4% lower to A$5.635
** Brokerage Jefferies says Treasury's latest U.S. impairments reflect known challenges and could support future earnings by lowering depreciation, amortization and inventory write-down charges
** The Penfolds owner says it would reduce the size of its U.S. North Coast vintages from 2026, and write down inventory, mainly bulk wine
** Jefferies says additional U.S. impairments tied to supply chain rationalisation, inventory write-downs and brand impairments underscore ongoing challenges in the Americas business, but sees signs the worst of distributor disruption has passed
** Brokerage adds Penfolds continues to outperform category trends, supported by brand strength and management's handling of grey-market sales, helping offset weakness in the U.S. business
** Stock up 7.5% YTD, including session moves
(Reporting by Shravya Marakini in Bengaluru)
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