Consumer
Modelo Owner Constellation Gives Softer-Than-Expected Outlook
Cases of Modelo beer sit on a pallet for delivery at a warehouse in Peru, Illinois.
Photographer: Daniel Acker/BloombergConstellation Brands Inc. projected slower-than-expected growth for its beer business this year, renewing concern that declines in alcohol consumption have yet to hit their floor.
Organic beer sales, which measure changes in sales volumes, are seen in a range of down 1% to up 1% in the company’s current year, Constellation said Wednesday. The range trails analysts’ average estimate for a 2.2% increase.