How Constellation Brands Overcame a 75% Sales Slump at Bars and Restaurants
Constellation Brands (NYSE: STZ) recently reported earnings results for its fiscal first quarter. That period matches up almost exactly with the worst impact to date of the COVID-19 pandemic on consumers in general and on the bar and restaurant industry specifically. Yet the alcoholic beverage giant had good news for investors, including rising consumption in key beer and wine brands and a hit new launch in the growing hard-seltzer space.
In a conference call with Wall Street analysts, CEO Bill Newlands and his team detailed some of those wins while explaining their optimistic long-term outlook. Let's look at some highlights from that chat.
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Source Fool.com
