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Stock impact report

How The COVID-19 Pandemic Is Upending The Alcoholic Beverage Industry [Forbes]

Constellation Brands, Inc. (STZ) 
Last constellation brands, inc. earnings: 4/3 07:30 am Check Earnings Report
US:NYSE Investor Relations: cbrands.com/investors
Company Research Source: Forbes
Unhappy friends protected from coronavirusGettyHistorically, the beverage business was among the most recession resilient businesses in America. According to David Ozgo, Senior Vice President, Economic and Strategic Analysis at the Distilled Council of the U.S. (DISCUS), during economic downturns, overall consumption of alcoholic beverages wouldn’t change much: beer and wine sales would rise and liquor sales would decline. Demand for budget and mid-priced (premium) spirits would increase, while demand for high-end super-premium and ultra-premium spirits would diminish. The distribution pattern, however, would change dramatically.On-premisesales for consumption in an establishment such as bars, restaurants or winery tasting rooms typically would decline. While off-premise “to-go” sales of packaged product for home consumption from grocery and liquor stores or mail order firms would increase. From the standpoint of a producer, they would roughly sell the same amount of spirits, only th Show less Read more
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