Spirits maker Brown-Forman is reporting weaker sales as it confronts challenging market conditions amid trade conflicts and pinched consumer spending.

Jack Daniel’s maker Brown-Forman expects organic sales to decline this fiscal year as consumer demand softens in the face of shifting tariffs and uncertainty about the U.S. economy.

Brown-Forman forecast a decline in annual revenue and profit on Thursday, as the Jack Daniel's maker navigates soft consumer spending amid tariff-related uncertainties, sending its shares plunging about 15%.