Earnings Results
Constellation Brands’ stock gains checked as analyst frets the days of double-digit growth in beer sales are over
Beer sales fell 2% in the fourth quarter, while wine and spirits sales fell 14%
Constellation Brands beer sales are under pressure after it raised prices last year.
Justin Sullivan/Getty Images
Corona beer parent Constellation Brands Inc.’s stock was flat Thursday, after the company missed revenue estimates for its fiscal fourth quarter amid continued pressure on beer sales after it raised prices last year to combat inflationary pressures in its supply chain.
That led some consumers to reduce their consumption or even switch to cheaper beer brands, a trend highlighted by analysts this year.
…
