There was no "analyst" input to this report; it has come directly from TWE. And yes, it can be seen as bad in terms of the 19 Crimes concept hasn't had the impact in USA that TWE had envisaged, forecast earnings are down, and having personally experienced numerous corporate rationalisations / reorganisations over the years, it doesn't take much reading between the lines to suggest TWE are about to embark on business structural changes in Australia. Don't think for a minute that China "reopening" is the holy grail and saviour for the wine industry....that would be naive.
Ann: TPB Operating Model and F23 Performance Outlook, page-4
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