Constellation Bullish on Spirits as Wine Fails to Meet Growth Expectation in Q3

Constellation Brands reported a healthy 7% net sales growth this morning for its third quarter. Unfortunately, it was primarily driven by the beer business. The company did report "excellent" growth of more than 25% for its spirits portfolio, but chief Rob Sands said its much larger wine portfolio "did not meet our growth expectations" for the period ended November 30. Rob attributed the weak performance to a slowdown in the market growth rates they did not anticipate earlier in the