Constellation Reports Beer Depletions up Almost 12%, Ballast Point Write-Down

Dear Client:Q1 fiscal 2018 is off to a good start for Constellation beer: net sales were up 8%, driven by volume growth and pricing. Depletions were up 11.6%. Shipments were up 7%. "Excellent execution during the Cinco de Mayo and Memorial Day holidays led to significant share gains," said chief Rob Sands. And their new Corona Premier and Familiar products "are delivering strong performance in test markets and they are well ahead of our expectations," he said. Beer operating income