Constellation Brands Beer Business Continues Strong Performance Despite Unfounded Claims About the Impact of COVID-19 Virus on Its Business
Constellation Brands, Inc. (STZ)
Last constellation brands, inc. earnings: 4/3 07:30 am
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Source: GlobeNewswire
VICTOR, N.Y., Feb. 28, 2020 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, today provided a response including fact-based consumer trends to address unfounded concerns about the impact of the COVID-19 virus on its business and consumer sentiment related to the company’s Corona beer brand. Based on recent IRI retail trends, sales of Corona Extra remain strong, with dollar sales up 5% in the U.S. per the latest 4-week period ended Feb. 16, nearly doubling the 52-week trend for the brand. Similarly, depletion trends for Corona Extra for the first two months of this calendar year through Feb. 26, as well as the month of February, have also outpaced their 52-week trend. In addition, IRI dollar sales trends for the entire Corona brand family are also outpacing their 52-week trend in the latest 4-week and 12-week periods. Furthermore, all business units supporting our beer business are seeing positive sales trends for the brand th
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