Constellation Bumps Beer Guidance; Q1 Depletions up 8%

Dear Client:"Our beer business is on fire," Constellation chief Rob Sands opened today's first quarter call, while the rest is is "on track." Net sales for the beer segment increased 14% in Q1 fiscal 2015 "primarily due to volume growth driven by strong consumer demand." That barely bested Q4 results, where net sales were up 13%. "These results are driving a change in our full year beer guidance, as we now expect beer segment net sales growth of approximately 10%