Reported 3 days ago
Constellation Brands, the maker of Corona and Modelo beers, is facing challenges due to tariffs on imported aluminum cans and slowed consumer spending attributed to inflation and immigration concerns. CEO Bill Newlands indicated that while beer consumption remains stable, overall spending is down, impacting their earnings forecast for the fiscal years ahead. Despite these hurdles, the company is investing $2 billion in a new plant in Veracruz, Mexico, to maintain the authenticity of its brands.
Source: YAHOO