CONSTELLATION LOSES OUT IN FISCAL ’08

Constellation considerably lowered it fiscal 2008 outlook today, and said it expects net sales to fall by 12 to 14% during fiscal 2008. Primarily, Richard Sands blamed the new outlook on two key factors: the U.K wine market as affected by the Australian oversupply, and a new operating decision to reduce distributor inventory levels in the U.S. Now, let’s take a closer look at both of these factors.FIRST, THE U.K. MARKET has continued to pose problems for Constellation over the