Reported about 13 hours ago
Constellation Brands, owner of Corona and Modelo, reports a concerning shift in consumer behavior, resulting in a downgraded sales forecast for 2025. While beer sales grew modestly by 3%, the company's wine and spirits sales plummeted by 14%, attributed to weaker consumer demand and rising unemployment. Additionally, a Gallup survey reveals increasing health concerns among Americans regarding alcohol consumption. With stocks falling sharply, the outlook for the alcohol industry appears increasingly bleak.
Source: YAHOO