Jack Daniel’s maker Brown-Forman misses quarterly sales estimates

Sept 2 (Reuters) - Jack Daniel’s maker Brown-Forman missed first-quarter sales estimates on Wednesday, pointing to softer demand as inflation-hit consumers pull back on expensive spirits and younger generations increasingly moderate alcohol consumption.

The company posted quarterly sales decline of 1% to $911 million, compared with analysts’ average estimate of $914.9 million, according to data compiled by LSEG.