Jack Daniels Maker Doing Awesome In This Economy

[meegbear]

It's not just a joke: People are really turning to drink in this economy. Brown Forman (BF) the maker of Jack Daniels and Finlandia Vodka reported an awesome quarter.

Brown-Forman Corporation reported that diluted earnings per share from continuing operations1 increased 13% to $0.94 and operating income increased 4% to $222 million for its fiscal 2009 second quarter. For the first six months of the fiscal year, diluted earnings per share increased 5% to $1.52, while operating income decreased 2% to $362 million. Adjusting for items in Schedule A of this press release, underlying2 operating income grew 5% for the second quarter and 4% for the first half of fiscal 2009.

Commenting on the first half, Paul Varga, chief executive officer said, “We are pleased with our results, particularly in the second quarter where we saw improvement during a challenging economic environment. We believe our first half performance is a testimony to the stability of our company, the strength and resiliency of our brands and people, and the quality of our cash flows and balance sheet.”

Disturbing news: Even sales of Jack Daniels & Cola, which, sorry, just looks gross to us, grew in the quarter.

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http://clusterstock.alleyinsider.com/2008/12/jack-danie...

As a JD drinker, nice to see I've been ahead of the curve!

[merh]

1. whiskey and gun sales

both thriving in this economy

what a friggin frightening combination

[pitohui]

2. is it possible people are just returning to more reasonably priced drinks?

jack is a well made beverage that's reasonably priced

in this economy are you going to drop big bucks on a fifth of a foo-foo vodka?

[bergs]

3. Also, people drinking at home

Between the no-smoking bans going up in a lot of places and the economy, bars are hurting. Doesn't necessarily mean people are drinking more, just buying a bottle for home.

Edit: Fitting that my first post here would involve my first love...

[boozepusher]

4. This is what I'm counting on:)

Actually it seems people are drinking just as much this year but spending less, buying the cheaper bottle of wine, bourbon, or whatever.

[Wanet]

6. Welcome Berg!

Nice to have you with us.

[sofa king]

9. Welcome, bergs!

I've retired from that sport myself, but I still have plenty of friends who knock 'em back, and they say the same things.

Another thing I've noticed is how many of my friends who smoke have switched over to rolling tobacco, also because of cost and diminished income. Zig-Zag even makes these weird empty cigarettes with filters that you fill yourself with an ingenious little device, so you can show away in front of your friends if you're embarrassed about rolling your own.

As I well know, there's a lot more fun in a bottle of Jack than there is in an eight dollar movie ticket or a five dollar pint of beer. But never forget that there is far, far more potential for disaster in the bottom of one of those bottles, too!

[meegbear]

11. I like the cut of your jib ...

WELCOME TO DU!!

[louis-t]

7. "foo foo vodka"

[Ezlivin]

5. Legalize Marijuana Now!

Destroy the black market and divert all those dollars into our government coffers rather than drug dealer's pockets.

People always seek comfort in times of distress. They'll turn to booze, dope or sex to ease the pain.

Tomorrow's discussion: Legalization of prostitution.

[tridim]

8. I was going to ask, what's the MJ market like now?

I'm sure demand is way up, but can people afford it any more at the black market price of >$400/oz?

[Ezlivin]

10. There's a site for just that

http://marijuanaprices.homestead.com/