High End Now Accounts for 60%+ of Constellation’s W&S Biz

Dear Client:   Constellation Brands reported a total net sales increase of 5% for the third quarter ended November 30, driven by the company's beer business.  Wine and spirits net sales were down about 4% for the quarter, and down just 1% on an organic basis. Shipments were down 14.8% and depletions were down 5.6% in Q3. Continued headwinds facing the company's mainstream brands weighed down depletions in the quarter, according to chief Bill Newlands.   Constellation brass said they continue