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Beer continues to drive growth at Constellation Brands - YTD fiscal-2019 results

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  • Beer sales in fiscal-19 projected to rise to "high end" of 9-11% range
  • Wine & spirits sales expected to decline "low single digits"

Constellation Brands has reported a rise in sales for the nine months to the end of November, bolstered by its beer division.

Corona helped drive sales for Constellation Brands in its YTD results

Corona helped drive sales for Constellation Brands in its YTD results

The company said today that group net sales were up 8.6%, to US$6.3bn, compared to the same prior-year period. Net beer sales, including Corona and Modelo, rose 12% in the period, to $4.1bn. Net beer sales in Q3 rose 16%, to $1.2bn.

The company said that the Modelo and Corona brand families drove depletion growth of 8%, with the Constellation beer business achieving the "most significant share gains in the US beer industry for the third quarter".

Meanwhile, wine and spirits sales lifted 2% in the nine months to 30 November, to $2.2bn, though the division came in flat in the third quarter at $763m.

Constellation said it continues to focus on high-end priority wine and spirits brands. "In the last 52 weeks, Constellation outperformed the US wine market at the greater than $11 price point with several of our Focus Brands growing double digits in IRI channels during this timeframe, including Kim Crawford, The Prisoner and Meiomi," the company said. However, depletion performance for the below $11 price point continues to be challenged, resulting in an overall fiscal year-to-date depletion decline of 2%.

"The results delivered by our beer business mark the highlight of our third quarter performance," said CEO Rob Sands. "The Modelo and Corona brand families continue to be on fire, fuelled by strong velocities, excellent distribution gains and highly incremental innovation.

"Our leadership in the high-end US beer industry positioned us to be the most significant growth contributor at retail during the quarter."

To read the official results release, click here

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