Outgoing CEO Lawson Whiting stated that the company's US business is seeing a "slow" improvement. Following the publication of its first-quarter results yesterday (September 3), the Jack Daniel's maker reaffirmed its full-year outlook, which includes a forecast for a 3-5% decline in organic operating income. However, CFO Jim Peters expressed "increased confidence that results will trend toward the more favourable end of the range" based on the Q1 figures and current business trends. For the three months ended July 31, Brown-Forman's total net sales were down 1% at $911 million, with US net sales declining 3% on a reported basis (flat organically). Net income for the quarter was up 3% to $176 million.