Reported about 22 hours ago
Constellation Brands, the owner of Modelo and Corona, reports declining sales due to President Trump's immigration crackdown, which has affected consumer behavior among their key Hispanic customer base. CEO Bill Newlands noted a 3.3% drop in beer shipment volumes, attributing this to fewer social occasions and economic concerns, particularly among Hispanic consumers. The decline in the construction job sector, critical to their audience, and rising consumer hesitation to go out have further exacerbated the situation, even as Modelo Especial remains the top-selling beer in the U.S.
Source: YAHOO