Treasury Wine Estates CEO, Sam Fischer, implements a transformation program including product review and cost cuts. Shares hit a decade low after cancelling stock buy-back due to weak US and China markets. TWE forecasts impairment on US assets and withdraws fiscal 2026 guidance. New program TWE Ascent aims for $100m annual cost savings over three years. Inventory reduction in US and China to address moderated depletion growth expectations. Luxury wine market in US declines, depletions from Treasury Americas down 4.6%. TWE restricts shipments to combat parallel import activity in China. Plans for $200m share buy-back scrapped, shares down 56% in 2025.

Read more at Yahoo Finance: Treasury Wine Estates targets cuts amid US, China woes