High-End Wine & E-comm Drive Constellation’s W&S Biz

Dear Client:   Constellation Brands reported a total net sales increase of 5% for the second quarter ended August 31, carried by the company's beer business. Meanwhile, Constellation's wine and spirits business continues to struggle with the weight of recent divestitures. In Q2, wine and spirits net sales were down 18% and shipment volumes were down 36.2%. Excluding the impact of divestitures, wine and spirits organic net sales were actually up 15%, and organic shipment volume was up 5.7%.  The