Market research
Constellation Brands has said a glass bottle recall for its Corona Extra beer cost the company an estimated US$9m.
The recall was announced in July
The company, which issued the recall in August after tests revealed defects that could lead to glass particles falling into the beer, announced the loss in first-half results yesterday. The affected bottles came from a third-party supplier to its Mexican brewery.
In Constellation's H1 results, which cover the six months to the end of August, beer sales rose while wine and spirits stayed level.
In a rollercoaster day for Constellation's stock yesterday, it share price fell by as much as 3% but rallied to finish 1% down at $84.40.
Sectors: Beer & cider, Company results
Companies: Constellation Brands
