Constellation Brands Says the Hard Seltzer Niche Isn't Dead
Constellation Brands (NYSE: STZ) is making the best of a tough situation. The alcoholic beverage giant recently announced solid sales growth for its summer quarter despite rising costs and supply chain issues.
The brewer of Corona and Modelo beers raised its short-term sales outlook even though demand is slumping in the hard seltzer niche, which had been an attractive growth target until just recently.
In an early October conference call with Wall Street analysts, CEO Bill Newlands and his team explained why that disruption isn't getting in the way of Constellation Brands' wider ambitions for the business in 2021 and beyond.
Source Fool.com