Reported about 12 hours ago
Constellation Brands, the parent company of Corona and Modelo, faces declining sales due to factors like immigration policy changes and shifting consumer attitudes toward alcohol. CEO Bill Newlands expressed confidence in the company's brand performance and long-term outlook, despite a 7% drop in beer sales and a 19% decrease in wine and spirits. He noted that while consumer concerns about personal finance are impacting spending behaviors, the company has gained market share in most sectors and is optimistic about future recovery once consumer confidence restores.
Source: YAHOO