UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of
earliest event reported): November 9, 2000 (November 8, 2000)
Brown-Forman Corporation
(Exact name of registrant as specified in its charter)
Delaware 1-123 61-0243150
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
850 Dixie Highway, Louisville, Kentucky 40210
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (502) 585-1100
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Item 9.
On November 8, 2000, John P. Bridendall, Senior Vice President and Director of
Corporate Development, made a presentation to Morgan Stanley Dean Witter Global
Consumer Group Conference. The text and other materials of Mr. Bridendall's
presentation are being furnished on the Corporation's web site
(http://www.brown-forman.com) in the Investor Relations section, which has a
section for the Morgan Stanley Conference Presentation.
A copy of the media advisory made in connection with this presentation is filed
herewith as Exhibit 99.
Forward-Looking Statement Disclaimer:
The presentation furnished as described in this filing may make forward-looking
statements related to our anticipated financial performance, business prospects,
new products, and similar matters. We do not guarantee that the results
indicated will actually be achieved. The Private Securities Litigation Reform
Act of 1995 provides a safe harbor for forward-looking statements. To comply
with the terms of the safe harbor, we note that the following non-exclusive list
of important risk factors could cause our actual results and experience to
differ materially from the anticipated results or other expectations expressed
in those forward-looking statements:
Generally: We operate in highly competitive markets. Our business is subject to
changes in general economic conditions, changes in consumer preferences, the
degree of acceptance of new products, and the uncertainties of litigation. As
our business continues to expand outside the United States, our financial
results are more exposed to foreign exchange rate fluctuations and the health of
foreign economies.
Beverage Risk Factors: The U.S. beverage alcohol business is highly sensitive to
tax increases; an increase in the federal excise tax (which we do not anticipate
at this time) would depress our domestic beverage business. Our current outlook
for our domestic beverage business anticipates continued success of Jack
Daniel's Tennessee Whiskey, Southern Comfort, and our other core wine and
spirits brands. Current expectations for our foreign beverage business could
prove to be optimistic if the U.S. dollar strengthens against other currencies
or if economic conditions deteriorate in the principal countries to which we
export our beverage products, including the United Kingdom, Germany, Japan, and
Australia. The wine and spirits business, both in the United States and abroad,
is also sensitive to political and social trends. Legal or regulatory measures
against beverage alcohol (including its advertising and promotion) could
adversely affect sales. Product liability litigation against the alcohol
industry, while not currently a major risk factor, could become significant if
new lawsuits were filed against alcohol manufacturers. Current expectations for
our global beverage business may not be met if consumption trends do not
continue to increase. Profits could also be affected if grain or grape prices
increase.
Consumer Durables Risk Factors: Earnings projections for our consumer durables
segment anticipate a continued strengthening of our Lenox and Hartmann
businesses. These projections could be offset by factors such as poor consumer
response to direct mail, a soft retail environment at outlet malls, further
department store consolidation, or weakened demand for tableware, giftware
and/or leather goods.
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Brown-Forman Corporation
(Registrant)
Date: November 9, 2000 By: /s/ Michael B. Crutcher
Michael B. Crutcher
Senior Vice President,
General Counsel, and Secretary
