Constellation raises profit forecast on booze sales, but takes a hit on cannabis
The brewer has been bolstering its alcohol portfolio as consumers switch to hard seltzers from high-calorie beers and spirits
08 January 2020 - 18:56
Bengaluru — Constellation Brands beat Wall Street estimates for quarterly sales and profit on Wednesday as it sold more of its beers, such as Corona Premier and Modelo Especial, prompting the company to raise its full-year earnings forecast.
The brewer has been bolstering its beer portfolio through launches of variants, such as Modelo Chelada Limón y Sal and Corona Refresca, to woo consumers switching to trendier alternatives, such as Boston Beer’s Truly and White Claw hard seltzers from high-calorie beers and spirits...
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