STZ Beer Depletions up 12% in FY 2016; Target Double-Digit Net Sales in ’17

Dear Client:Constellation just reported FY 2016 numbers and yet again, beer more than pulled its weight. The company did 9% consolidated net sales growth overall with help from "acquisition benefits" like Ballast Point (offset by unfavorable currency impact).Organic net beer sales were up 13% primarily due to volume growth and pricing. Beer depletions were up 12%, reflecting strong consumer demand for the beer portfolio, driven by Modelo and Corona Extra. FOR Q4 the overall company generated consolidated net sales growth