Question-and-Answer Session
Operator
Thank you. [Operator Instructions].
Your first question comes from the line of Bryan Spillane with Banc of America Securities.
Bryan Spillane - Banc of America Securities
Hi. Good morning.
Paul C. Varga - Chairman and Chief Executive Officer
Good morning, Bryan.
Phoebe A. Wood - Vice Chairman and Chief Financial Officer
Hi, Bryan.
Bryan Spillane - Banc of America Securities
Paul, just a follow-up on your comments on the U.S. First, I just wanted to make sure as clear that the? your industry? comment on the industry growth rate being down 1 to 2, is actually that the industry is declining 1% to 2% or that its growth rate is 1 to 2 percentage points off were it was a year ago.
Paul C. Varga - Chairman and Chief Executive Officer
The latter.
Bryan Spillane - Banc of America Securities
Okay. And then on? in terms of restoring growth, I guess, especially at Jack Daniel’s, will it require maybe moderating price increases for awhile or changing your promotional behavior? Or do you think it’s really more a matter of just getting back some of your sales and execution focus?
Paul C. Varga - Chairman and Chief Executive Officer
I think it is a combination of the executional focus? some of the things I mentioned towards the end of my comments to in-store merchandising and I will give you now my call blocking and tackling in some regard. I do think as it relates to the pricing, we are going need to be step up what I would call our pricing execution, making sure that we are looking it really, really closely at individual price points market-by-market making sure, because we think we should and we plan to continue our moderate price increases that have been very successful for us and will be continue to be important in environment where a consumer is continuing to trade up. I just think in some of this more challenging times, you really got to be on top of the promotional price points making sure you are getting retail ads, a lot of the traditional sort of in-store promotional pricing and I thought just intense focus on the point of purchase. And so, I think it is a combination of those, but it does it really make us feel like we can’t go forward with the moderate price increases that we’ve been experienced on Jack Daniel’s for so long.
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