Constellation Delivers Resilient Wine Sales, Suggests Crown Imports Not Under Threat

US wine giant Constellation Brands has reported a 4% drop in net sales for its fiscal third quarter, though on an organic basis sales were up by 2%. The firm reports that US branded wine net sales continue to be impacted by economic challenges, but reveals that it saw 'improving depletion trends later in the quarter', which bodes positively for its fourth quarter results. In a conference call Constellation also addressed the ongoing legal dispute with Grupo Modelo over their US joint venture (JV) Crown Imports, suggesting that while the dispute could not be ignored their was no reason to

To read the full article, please sign in or take a free trial.