Constellation to Focus on 10 Key Wine and Spirits Brands

Dear Client:Last week, Constellation Brands reported pretty dismal numbers for its wine and spirits business, with net sales down almost 9% and depletions down 13% for the second quarter [see WSD 10-03-2019]. And the short-term outlook doesn't look better - they expect their wine and spirits division to end fiscal 2020 with net sales down 15%-20%. The portfolio is largely being weighed down by the delayed sale of 30+ brands to E&J Gallo and the company's choice to not repeat major