Diageo organic sales fall as US and China spirits remain weak
Diageo’s outlook is framed as constrained by recent performance, with organic sales falling 2% in fiscal full year 2026 amid continued weakness in US spirits and Chinese white spirits. Debt is also cited as a drag. While Guinness is said to be showing growth, the piece argues Diageo is unlikely to quickly return to 4,000p and may deliver only positive returns near term.