Constellation has seen persistent demand in the beer segment, its major revenue driver, as consumers continued to spend on its light-bodied beer categories of Modelo Especial and Pacifico varieties
beat second-quarter results estimates on Thursday, as robust demand for its popular beer brands helped soften the hit from a slump in its wines and spirits business.
Meanwhile, its wines and spirits business has struggled with weaker sales for several quarters, particularly at retailers, following which the company earlier last month said it will take a $2.5-billion write-down for the unit in the reported quarter. Constellation’s shares were down 1.9 per cent in premarket trading on Thursday, after it reaffirmed its annual adjusted profit and sales forecast.
Demand Quarter Constellation Company Beer Profit Slump Brown-Forman Jack Daniel Constellation Brands STZ-N
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