Unclear how quickly Diageo can fix problems in Latin America, CEO says By Reuters

© Reuters. FILE PHOTO: A pint of Guinness is seen on the counter of a pub, in Dublin, Ireland March 20, 2023. REUTERS/Clodagh Kilcoyne

LONDON (Reuters) – Diageo (LON:) Chief Executive Debra Crew said on Wednesday that it was difficult to predict when the company could move through inventory issues in Latin America that led to a profit warning last week that sent the company’s shares 16% lower.

She said that the company has robust retail activity scheduled over the holiday period and was putting together other steps to tackle the problem, adding that Diageo would update investors at its first-half results in January.

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