Constellation Outperforms Spirits Category

Dear Client:As volumes lost some momentum in the short term, spirits sales increased 3% for the 4-weeks ending November 10, per Nielsen data. The growth represented a slight deceleration from the 4.1% growth in the prior 12-weeks. A 2.2% Price/mix increase was also slightly below the prior 12-weeks trend of 2.4%, according to Morgan Stanley analyst Dara Mohsenian. As has been the case for a couple months now, the strength of bourbon (+6.8%), vodka (+5.4%), Canadian whiskey (+2.6%), and rum