Australian vintner Treasury Wine Estates has announced a A$558.4 million ($395 million) post-tax writedown, tied to supply chain problems in its US market.
The writedown was flagged ahead of the company's full-year earnings on Thursday and is part of a broader effort to tackle supply chain issues in the US market.
A$558.4m writedown
Post-tax charge announced by Treasury Wine Estates, tied to US supply chain problems.
Following the announcement of the US supply overhaul, Treasury Wine Estates' shares soared. The move also eased inventory concerns.
