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Constellation Brands set to push supply chain inflation into beer prices

Chile 92 Consumer Staples 707 Earnings 623 Italy 59 New Zealand 34 Quote Watch 391 U.S. 5046

Constellation Brands reported FQ4’21 (to Feb. 28) revenues which included a 32.9% slump in wine sales and a 15.9% jump in beer sales as a result of changing tastes during the pandemic. The firm does not appear to be expecting a recovery in wines, with U.S. seaborne imports linked to the firm down by 28.0% year over year in March after sliding 35.9% lower in the three months to Feb. 28. The growth in beer meanwhile has come at the expense of “increased logistics costs predominantly resulted from strategic actions taken to expedite beer shipments” according to CFO Garth Hankinson. Price in...

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