Treasury Wine Estates Ltd.'s stock price has plummeted. Facing the challenge of weak demand in key markets, the Benfu wine producer announced that it will carry out a restructuring plan including asset sales and cost reduction. The stock plummeted 17% in Sydney, the biggest drop since August 2020. The company cancelled an unfinished A$200 million share repurchase program on Wednesday and said it was reevaluating the capital investment plan. These initiatives come at a time when CEO Sam Fischer first took office and was forced to transform the struggling wine producer. “We are currently facing category weakness in key growth markets such as the US, which will affect our business performance in the short term,” Fischer said in a statement.

Treasury Wine Estates Ltd.'s stock price has plummeted. Facing the challenge of weak demand in key markets, the Benfu wine producer announced that it will carry out a restructuring plan including asset sales and cost reduction. The stock plummeted 17% in Sydney, the biggest drop since August 2020. The company cancelled an unfinished A$200 million share repurchase program on Wednesday and said it was reevaluating the capital investment plan. These initiatives come at a time when CEO Sam Fischer first took office and was forced to transform the struggling wine producer. “We are currently facing category weakness in key growth markets such as the US, which will affect our business performance in the short term,” Fischer said in a statement.