FORTUNE UP 27% IN REVENUE FOR Q-2

Fortune Brands reported today that revenue was up 27% for their 2nd-quarter earnings, trumping analysts’ predictions. Boosted by the company’s stable of top-shelf spirits brands, including those acquired from Allied Domecq, Fortune delivered its 20th consecutive quarter of double-digit profit growth that “exceeded the earnings target we provided three months ago," said Fortune Brands chairman and CEO Norm Wesley.” Wesley said the company will reach double digit growth again in the 3rd quarter and for the full year.

Blame it on consumer demand, said Fortune, in addition to Jim Beam bourbon which "fueled sales growth and share gains in key markets."

When asked about the brands acquired from Allied, Norm replied: “When we looked at the aggregate spend on the brands we thought it was adequate, but we need to build them up brand by brand, and shift from promotion and pricing to spending behind the brands for the longer term.”