Constellation Posts 7% Sales Rise In First QuarterJuly 1, 2015
Driven by continuing growth across its beer business and an improvement in wine and spirits depletions, Constellation saw net sales increase 7% to $1.6 billion in its fiscal first quarter, ended in May. The upstate New York-based company enjoyed a return to volume growth in wine and spirits over the last three months, with the unit’s depletions up 3.5% for the quarter, after declining 1.2% to 66 million cases in Constellation’s last full fiscal year.
The upturn was led by Kim Crawford, Ruffino, Black Box, Simi, Estancia, Clos du Bois, The Dreaming Tree and Woodbridge on the wine side, while Casa Noble Tequila, Paul Masson Grande Amber brandy and Svedka vodka drove spirits growth. The group’s wine and spirits net sales rose 4% to $666 million in the first quarter.
Meanwhile, Constellation’s beer division continued its strong forward momentum, with depletions up 10% and net sales increasing 11% to $$966 million, led by flagship Mexican brands Corona Extra and Modelo Especial.
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