Constellation Brands Faces Sales Decline Amid Trends

Constellation Brands sells beers like Modelo in America. They think they will sell less beer than they thought. This is because some people are not buying as much beer now. The company now expects lower sales. Their profit is also expected to be lower than previously predicted.

The CEO of Constellation said beer sales are down. People are not buying beer as often as before. They are also spending less money each time they shop. This change is happening with expensive beers. Customers are not buying them as much right now.

This problem is mostly among Hispanic buyers. They buy about half of Constellation's products. Now, they are buying less than they used to. Constellation said this in a meeting with investors. It is a big change for the company.

Modelo Especial is the best-selling beer right now. It sells more than other beers in stores in the U.S. It is very popular this year. Modelo sold more than Bud Light. This happened after some problems with Bud Light's marketing.

Constellation sells Modelo and Corona in the U.S.. They started in 2013 after a big deal. They also own wine and tequila brands. They own Robert Mondavi wine and Casa Noble tequila. The company is located in Rochester, New York.