In the 13 weeks to December 10, the amount of wine Treasury sold fell 5 per cent and the value of sales declined 6 per cent, according to The Australian Financial Review.

It was a performance that lagged the broader market as revenues fell heavily from its big-selling American wine labels and its imported Australian brands such as Rosemount.

Treasury's US sales have been in decline since mid-2009, before a strategic review of its operations triggered an overhaul of its distribution arrangements and a fresh brand strategy for its Beringer label.

Total wine sales in the broader US market climbed 4 per cent as volumes increased 2 per cent in the 13 weeks to December 10, according to Goldman Sachs, one of few stockbrokers continuing to buy the US sales data following the sale of Treasury's former owner Foster's Group last year. Treasury's Beringer California Collection was down 11 per cent by value, while Rosemount fell 21 per cent over the period.

However, Goldman Sachs noted there was strong sales growth for Treasury's premium wines, which account for about 16 per cent of its sales and recorded a 24 per cent jump in value.