Reported about 1 month ago
Constellation Brands announced it will take a goodwill charge of up to $2.5 billion in the current quarter due to declining demand for its wine and spirits business. This adjustment comes as consumers shift away from high-priced alcoholic beverages, prompting the company to lower its annual sales growth forecast. Despite past successes with its beer brands, the outlook for its wine sector remains bleak.
Source: YAHOO