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STZ Says Shipments Will Be Down Low-Mid Single Digits, Promises “Select Outages” for Summer

Dear Client: New Constellation CFO Garth Hankinson took the virtual stage at RBC's Consumer Conference to share their latest COVID-time trends.  He dropped some beer results bombs: They expect their Q1 depletions to be up low-to-mid single digits, but shipments to be down that much, due to production constraints in Mexico.  Then, Garth all but promised out of stocks for the summer. "To be clear: We will have some select outages; those outages we expect to be for a very

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