, the world's largest tequila producer, lost $1.54 billion in market capitalization from a share selloff on Thursday after a stronger peso
The distiller, which makes Jose Cuervo tequila as well as upscale rum, vodka and whiskey brands, was vulnerable to currency changes with three-quarters of 2022 sales made in foreign currencies - mainly U.S. dollars. "While the European outlook remains challenging, we are confident in our ability to maximize our take-up of consumer spending in the fourth quarter," said regional director Gordon Dron.
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