The travel retail channel delivered growth across most of the major regions as we benefited not only from an increase in the number of travelers, but also from the strategic workforce restructuring that we implemented a year ago.

Mar 4, 2026 / CEO / receipt, needs a key / Lawson Whiting, CEO | earnings call 2026-03-04 | transcript aa46fb5f-41b1-4fc2-9f35-7a2b10dd4450 | chars 6104-6333 | segment 6

The Global Travel Retail Channel delivered organic net sales growth of 6% in the first half of fiscal 2026, with growth in most of the major regions as passenger numbers continued to increase, surpassing pre-pandemic levels.

Dec 4, 2025 / CEO / receipt, needs a key / Lawson Whiting, CEO | earnings call 2025-12-04 | transcript 000068af-794d-44f6-b0f6-3a5aa25153c6 | chars 5811-6035 | segment 5

From a geographic perspective, our organic net sales growth was led by the emerging international markets, which grew 25%, and the travel retail channel, which increased 7%. This growth was partially offset by a 9% decline in the developed international markets collectively and a 2% decline in the United States.

Aug 28, 2025 / CEO / receipt, needs a key / Lawson Whiting, CEO | earnings call 2025-08-28 | transcript 4b1c51e1-1e18-4bbe-aed3-938877f77fbe | chars 4239-4552 | segment 4

As the international airline travel and cruise business continued to return to more normalized growth levels, the travel retail channel grew organic net sales 9%, led by higher volumes of Woodford Reserve. Our business in this channel continues to remain above pre-pandemic levels.

Aug 30, 2023 / CEO / receipt, needs a key / Lawson Whiting, CEO | earnings call 2023-08-30 | transcript 8f7ce1e7-00e0-494e-850a-fc8d4ecf98d9 | chars 13591-13872 | segment 13

In fiscal 2023, our reported net sales increased 8% or 10% on an organic basis, driven by broad-based reported net sales growth across all geographic clusters and the travel retail channel, including double-digit organic growth in our international markets.

Jun 7, 2023 / CEO / receipt, needs a key / Lawson Whiting, CEO | earnings call 2023-06-07 | transcript a8b8634a-cd09-4d4c-9b92-37ea3ad8b6a8 | chars 4570-4827 | segment 4

First, we experienced sustained demand due to the reopening of the on-premise channel and the gradual return of tourism and travel.

Jun 8, 2022 / CEO / receipt, needs a key / Lawson Whiting, CEO | earnings call 2022-06-08 | transcript 6cdf70c3-a5ed-4554-b8c3-a2624f7bc3ce | chars 3414-3545 | segment 3

First, our top line growth remains strong, driven by the reopening of the on-premise channel, the return of tourism, and the cycling of the lower comparisons during the first half of last year, most notably in the emerging markets and travel retail.

Dec 8, 2021 / CEO / receipt, needs a key / Lawson Whiting, CEO | earnings call 2021-12-08 | transcript c847382a-540f-4436-8624-4e2d6125daf0 | chars 3944-4193 | segment 4

In aggregate, we also experienced strong growth in our emerging international markets as well as travel retail as we cycled the effect of easy comparisons and more markets returned to growth and recover from the pandemic.

Sep 1, 2021 / CEO / receipt, needs a key / Lawson Whiting, CEO | earnings call 2021-09-01 | transcript cdff9c92-ab33-4bfd-bf81-d7be5236d393 | chars 7355-7576 | segment 7

Turning to the second factor weighing on our outlook, The uncertainty and unpredictability, the effect the coronavirus may have on our business globally, including the current most affected areas, travel retail in Asia, most notably China.

Mar 4, 2020 / CEO / receipt, needs a key / Lawson Whiting, CEO | earnings call 2020-03-04 | transcript fc250774-e493-424e-9f3e-0b6cb447085c | chars 25404-25643 | segment 25

Like other companies, we've taken steps to limit our employees' risk by limiting travel, canceling certain meetings, providing up-to-date information from the CDC and the World Health Organization, and ensuring our flexible work policies are being utilized.

Mar 4, 2020 / CEO / receipt, needs a key / Lawson Whiting, CEO | earnings call 2020-03-04 | transcript fc250774-e493-424e-9f3e-0b6cb447085c | chars 12320-12577 | segment 12