Duckhorn Portfolio (NAPA) CEO Talks Earnings

"The consumer is allocating the same amount to luxury wine," says Duckhorn Portfolio (NAPA) CEO Alex Ryan. He says there is a demand for innovation by consumers, and interest in wine remains strong. He notes that sparkling wines are popular. He says the recent wet weather in California has been great for wine growing. The company is investing in its sales team and is trying to take market share and is looking at M&A down the road.