Constellation Brands Adapting to Market
Constellation Brands (NYSE: STZ), a maker of premium beer, wine, and spirits, hit a rough patch, with its fiscal first-quarter 2021 (the period ended May 31, 2020) sales falling 4% compared to a year ago, after excluding sold businesses, to under $2 billion.
However, the top-line weakness is understandable with state and local governments shutting down bars and restaurants due to COVID-19. With coronavirus cases rising in certain regions, some municipalities have taken a step back and limited indoor crowds or paused the reopenings.
That is a concern for short-term results. But, with a strong foundation, Constellation Brands is set up for longer-term success.
Source Fool.com
