1543 ET - Tilray Brands reports 2Q revenue that missed analyst projections, largely due to the underperformance of its alcoholic beverage business, Bernstein analysts say in a research note. The shortfall was partially due to its Project 420 initiative which aims to find $25 million in synergies for the booze division and includes some reshuffling of its portfolio, which cut sales by $6 million in the first half of the fiscal year, the analysts say. The program is expected to reduce sales for the full fiscal year by $20 million, though that should be offset by some new product innovation over the next 18 months, the analysts say. (dean.seal@wsj.com)
(END) Dow Jones Newswires
January 10, 2025 15:43 ET (20:43 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.