![\"Getty](\"https:\/\/www.europesays.com\/britain\/wp-content\/uploads\/2026\/05\/GettyImages-2246643984-e1764842976137.jpg\")
\t\tPubs will stay open until 1am if England reach the Fifa World Cup latter stages\t<\/p>\n\t\t\tWednesday 06 May 2026 8:36 am
\n\t\t\t\t\t\u00a0|\u00a0\u00a0Updated:\u00a0<\/p>\n
\t\t\tWednesday 06 May 2026 10:13 am\n\t<\/p>\n
\t\tPubs will stay open until 1am if England reach the Fifa World Cup latter stages\t<\/p>\n
Shares in Diageo jumped on Wednesday morning as high hopes for a high-drama World Cup has helped lift the drinks firm\u2019s sales back into positive territory.<\/p>\n
The Guinness and Johnnie Walker maker, which has been battling a slowdown in demand for spirits, said it had seen \u201csome benefit\u201d of \u201cadvance sales\u201d ahead of the start of the football tournament next month, sending net sales up 2.3 per cent to $4.5bn (\u00a33.3bn) in the first three months of the year.<\/p>\n
Growth in Europe jumped 8.8 per cent during the quarter, led by the Brits\u2019 unquenchable thirst for Guinness, but this was offset by a 9.4 per cent slump in sales in the US and Canada, amid double-digit declines in sales of tequila.<\/p>\n
\u201cNorth America remains our biggest challenge, where market conditions are soft and our offer needs to be more competitive,\u201d chief executive Dave Lewis said. \u201cActions are already underway to address this.\u201d<\/p>\n
Diageo shares rose 5.2 per cent to 1,552p in early trade on Wednesday morning. The stock remains down around three per cent since the start of the year.<\/p>\n
Adam Vettese, market analyst for Etoro, said: \u201cInvestors haven\u2019t had much to smile about in recent times with shares derating sharply but this mornings update has been well received.<\/p>\n
\u201cAt current levels the valuation looks reasonable for a business with Diageo\u2019s iconic brands and emerging market exposure, but near-term risks are still high. <\/p>\n
\u201cThe new full strategy refresh on 6 August will be the real moment of truth with investors hoping this will be the catalyst for a sustained recovery.\u201d<\/p>\n
Diageo slashes dividend as Drastic Dave plots turnaround<\/p>\n
In February, Diageo slashed its dividend<\/a> as the cost-cutting regime of new chief executive \u2018drastic\u2019 Dave Lewis began to take hold, prompting a share price spook.<\/p>\n The board announced the \u201cdifficult\u201d decision to cut its dividend to 20 cents to \u201caccelerate the strengthening\u201d of its balance sheet in its interim results, the first financial update since\u00a0Sir Dave Lewis<\/a>\u00a0took charge.\u00a0<\/p>\n The FTSE 100 giant, which also owns spirit brands Smirnoff and Captain Morgans, has suffered from tight margins in recent years as consumers turn to low alcohol alternatives and cheaper brands.<\/p>\n \t\t\t\t\tRead more<\/p>\n