Constellation Exploring Ways to Fix Wine & Spirits Performance

Constellation Brands' net sales were up 8.6% to $6.3 billion for the nine months through November, and up 9% for the third quarter. The company's beer business is driving growth, while wine and spirits reported lackluster results, according to current president and coo and soon-to-be ceo Bill Newlands. Net sales for the wine and spirits business eked out 0.4% growth for the quarter, while depletions were down 3.2%. Shipment volumes outpaced depletions in the quarter, due to timing, but that's