Constellation Beer Quarter: Depletions up 10%; Craft Beer Finally Announced

Dear Client:Constellation reported its Q2 2016 (fiscal year) results this morning (ended August 31), plus some interesting news about an imminent new craft beer.For the quarter, the company's organic net sales were up 9%.Beer net sales grew 14%, "primarily due to volume growth." Beer depletions were up 10% in the quarter. (That tracks with recent quarterly trends.) Looks like beer margin for the quarter was 34.9%.Shipments were up almost 13%. Six-month numbers were pretty close to those trends. (The company