Constellation’s Cannabis Investment Already Paying Off

Constellation Brands' total net sales were up 6% to just over $2 billion for the first quarter ended May 31, largely thanks to the beer portfolio. After showing improvement in Q4 last year, wine and spirits net sales were down 2.5%. Wine performed better than spirits for the quarter, with sales down 2% to $592 million compared to spirits sales decrease of 8% to $80 million.Shipments (sales to distributors) for wine and spirits were down nearly 3% for the quarter,