Constellation Lags Industry Growth But Hopeful for 2012

Dear Client: Constellation Brands is so far falling short of its goal to grow total wine volume depletions (shipments from wholesalers to retailers) in line with the total US wine category, execs said this morning during the company's third quarter (three months ending November 30) results conference. That's partly due to price increases on lower volume wines. And they are still lapping tough year over year comparisons. Recall that last year shipments (sales to wholesalers) exceeded depletions as Constellation was