Constellation Beer Posts Solid Quarter, Depletions Up Almost 8%

Dear Client: In its fiscal Q2 (the three months ended August 31), Constellation's beer business saw shipments up 8.7%, and depletions up almost 8%. Net sales were up 12%.  Those results come on the back of Modelo Especial up 9% in the quarter (it was up 5% last quarter); Modelo Chelada brands up more than 40% (with nearly 70% share of the chelada segment); Corona Extra up roughly 1%, and Pacifico up almost 15%.  Yet again, Constellation was the top