Beer Maker Constellation Brands' Q3 Sales Hit By Subdued Spending; Stock Slides
Constellation Brands Inc STZ shares are trading lower after the company reported nearly flat third-quarter sales of 2.53 billion.Net sales for the Beer segment increased 3% Y/Y to 431.4 million. Shipment volume for Beer climbed 1.6%, while Wine and Spirits declined 16.4%.Gross profit increased 1% to 793 million. The operating margin for the quar ...