Constellation: The Year of Premiums

A number of temporary issues negatively impacted Constellation’s results in the fiscal year, but overall the company had a solid performance. Issues between the Australian and UK businesses resulting in lower sales continue to take a toll on Constellation, albeit small, in addition to the recent reduction in U.S. distributor inventory in the second quarter. Those factors were partially offset by the benefits of the Vincor, Svedka and Fortune Brands acquisitions and favorable foreign currency. In other words, Constellation has