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Brown-Forman’s stock dips after Jack Daniel’s parent’s sales fall short of estimates

Brown-Forman Corp. ‘s stock fell 4.6% early Wednesday, after the parent of Jack Daniel’s whiskey’s fiscal third-quarter sales fell short of estimates, overshadowing a profit beat.

The Louisville, Ky.-based company BF.A BF.B posted net income of $285 million, or 60 cents a share, for the quarter to Jan. 31, up from $100 million, or 21 cents a share, in the year-earlier period. Sales fell 1% to $1.069 billion from $1.081 billion.

The…

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