just The Preview – Constellation Brands Q4 & FY
Constellation Brands will report its FY numbers tomorrow
Constellation Brands will report its fourth-quarter and full-year results on Thursday (5 April). Here, just-drinks takes a look at the highs and lows for the company in the three months to the end of February.
- Constellation started the year on the back foot, with CEO Rob Sands struggling for good news after share prices fell 3%. A disappointing third-quarter report, showing a net sales drop of 27%, spooked investors but Sands said he was confident sales would bounce back.
- A row over 'fake' Pinot Noir came to a head in January, with Constellation and E&J Gallo agreeing to reimburse consumers in the US caught out by the France-sourced wine. Constellation agreed to put aside US$85,000 for reimbursements despite stating it had been defrauded as much as consumers. In France, several winemakers and sellers went to jail over the scandal.
- In late-January, Constellation raided Diageo for Joseph Bruhin, its new chief information officer. Bruhin was formerly VP of information systems at Diageo's North American unit.
- And as one moved in, another moved out. In February, Robert Shea, US national sales director for Constellation's Svedka vodka brand, called time on his 40-year career in the drinks industry.
- There was good news for Constellation's beer import JV in the US, in February, when partner Grupo Modelo said that Crown Import's performance in 2011 was its best for 30 years. Crown was one of only four major suppliers to post positive growth last year, according to Modelo.
Glazer's has teamed with Premier Wines and Spirits to set up a distribution venture in the US Virgin Islands....
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