Brown-Forman forecast a decline in annual revenue and profit on Thursday, as the Jack Daniel’s maker navigates soft consumer spending amid tariff-related uncertainties , sending its shares plunging about 17%.

Worries of a possible recession and product price increases brought on by international trade wars have dented consumer sentiment in the US and pushed people to cut back on discretionary products such as high-end alcohol.

“We anticipate the operating environment for fiscal 2026 will be challenging, with low visibility due to macroeconomic and geopolitical volatility as we face headwinds from consumer uncertainty, the potential impact from currently unknown tariffs,” the company said.

“We anticipate the operating environment for fiscal 2026 will be challenging,” the maker of Jac

See Full Page