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Brown-Forman Corporation

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Brown-Forman has underperformed the industry in the  past one year. The company has been battling currency woes for a while now, along with tough economic conditions in emerging markets and soft travel retail network. Recently, it reported third-quarter fiscal 2017 results, wherein earnings came in below the estimate but revenues beat the same. The company anticipates the perils of currency headwinds and unstable emerging market conditions along with an uncertain geopolitical environment to linger in fiscal 2017 as well. Moreover, it trimmed underlying sales and earnings projections. Nonetheless, Brown Forman's strong portfolio of premium brands, have been driving it forward. Further, the company's consistent focus on pricing, product innovation and expansion also reinforce its market position. However, stiff competition and any rise in excise taxes remain concerns.

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