DIRS.INFO The most relevant business & tech news

☆ Constellation Brands to sell Svedka vodka to Sazerac as wine and spirits segment struggles
▼ + stars: | 2024-12-03 | by ( Brandon Gomez | In Brandon-Gomez | ) www.cnbc.com time to read: +3 min

Constellation Brands announced Tuesday it will sell its Svedka vodka brand to New Orleans-based spirits company Sazerac. Constellation's wine and spirits business has been dragging on the company's strong beer portfolio, which includes Modelo and Corona. In the second quarter, the company's wine and spirits shipments dropped 9.8% year over year, the company reported. Constellation's spirits portfolio will continue to own including High West Whiskey, Mi Campo Tequila and Casa Noble Tequila. Bernstein called the news "a clear positive for Constellation," saying the company's wine and spirits weakness has dragged on the beer business.

Persons: Bill Newlands, Newlands, Campo, Casa Noble, Bernstein, Nadine Sarwat, Morgan Stanley Organizations: Constellation Brands Inc, Constellation Brands, Constellation, Modelo, Marque, Comfort, Morgan, Morgan Stanley Global Consumer, Retail Conference Locations: New York, New Orleans, Corona, Buffalo

☆ Modelo brewer Constellation Brands' sale of Svedka vodka is a positive move for the stock
▼ + stars: | 2024-12-03 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Constellation Brands ' decision to sell its Svedka vodka brand is a step in the right direction as the Modelo and Corona brewer focuses on its high-end businesses. The news Constellation said Tuesday it will sell Svedka to New Orleans-based Sazerac, which owns hundreds of brands from distilleries around the world. For all of fiscal 2025, Constellation expects wine and spirits to deliver a full-year net sales decline between 4% to 6%. STZ .SPX YTD mountain Constellation Brands YTD Big picture The Svedka transaction is part of management's "premiumization" strategy to reshape its wine and spirits portfolio. Constellation Brands Inc. Svedka vodka at a liquor store in the Upper East Side neighborhood of New York, US, on Friday, June 28, 2024.

Persons: Kim Crawford, Casa Noble, Mi Campo, Bernstein, Paul Masson, Clos, Gallo, Jim Cramer, Jim, Donald Trump, Morgan, Garth Hankinson, Jim Cramer's, Bing Guan Organizations: Constellation Brands, Modelo, Corona, Constellation, Clos du Bois, CNBC, Constellation Brands Inc, Bloomberg, Getty, & $ Locations: New Orleans, Corona, Pacifico, Mexico, U.S, New York

☆ Modelo brewer Constellation falls despite an earnings beat. Here's why we're not concerned
▼ + stars: | 2024-10-03 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +10 min

Modelo and Corona brewer Constellation Brands is a tale of two businesses. Constellation Brands Why we own it : Constellation Brands' beer franchise, which includes popular Mexican brands Modelo, Corona and Pacifico, is the growth engine and by far the most attractive part of the business. And, the profitability of its beer business — operating margins were an impressive 42.6% in the quarter — puts Constellation in a position of strength. Still, raising an anchor is always welcome news, and talk of its booming beer business would, at last, no longer need the wine-and-spirits caveat. Looking ahead, its beer business should continue grabbing market share and its hard to imagine the wine-and-spirits unit getting much worse.

Persons: Bill Newlands, Thursday's, Newlands, Kim Crawford, There's, Jim Cramer's, Jim Cramer, Jim, Justin Sullivan Organizations: Corona, Constellation Brands, LSEG, Modelo, Anheuser, Busch Inbev, Molson Coors, Investors, Constellation, National Football League, Bloomberg, Brier, Modelo Especial, CNBC Locations: Corona, Pacifico, Wednesday's, U.S, Campo, West Coast, San Rafael , California

☆ Constellation Brands CEO explains sales weakness in wine and spirits: 'we spread ourselves a little too thin'
▼ + stars: | 2024-04-11 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Constellation Brands CEO Bill Newlands told CNBC's Jim Cramer on Thursday how the company plans to improve its wine and spirits division, which saw its net sales decline during the most recent quarter. "We're going to put a lot more focus on the critical brands, brands like the Prisoner, and Meiomi, and High West, and Mi Campo, as examples. Despite shortcomings with its wine and spirits business, the company's quarterly earnings report showed strength in beer sales. Newlands also expressed confidence in Sam Glaetzer, the new leader of Constellation Brands' wine and spirits business. Constellation Brands is seeing success and growth in its Pacifico Brand, Newlands added.

Persons: Bill Newlands, CNBC's Jim Cramer, Mi, We're, Newlands, Sam Glaetzer, Glaetzer, it's Organizations: Constellation, High, Constellation Brands, Modelo, Management, Pacifico Brand, Pacifico Locations: Corona, Pacifico, Newlands, California, Florida, New Jersey, West Coast

☆ Constellation Brands beats on earnings as Modelo-fueled beer momentum continues
▼ + stars: | 2023-10-05 | by ( Stefan Sykes | ) www.cnbc.com time to read: +2 min

Constellation Brands on Thursday reported earnings and revenue that topped analysts' expectations for its fiscal second quarter of 2024. The Mexican beer powerhouse, owner of the Modelo Especial and Corona Extra brands, reported double-digit sales growth in its beer business as the division continues to dominate the overall beer and high-end categories. The Modelo brand family was a particular bright spot: Modelo Especial grew nearly 9%, while Modelo Chelada brands posted growth of more than 40%. The company's wine and spirits brands, however, underperformed year over year. In its previous quarter, beer sales rose 11% year over year driven by stable consumer demand and higher pricing.

Persons: Constellation's Meiomi, Kim Crawford, Campo, Bill Newlands Organizations: Constellation Brands, Modelo Especial, Corona, Constellation, LSEG, Modelo, Business Locations: Mexican, U.S

Search resuls for: "Mi Campo"

5 mentions found