At Extreme Investor Network, we stay ahead of the curve when it comes to all things money. Today, we’re diving into the latest news from Constellation Brands and their plans to boost their wine and spirits division.
Constellation Brands CEO Bill Newlands recently shared insights with CNBC’s Jim Cramer on the company’s strategies to revamp their wine and spirits business following a decline in net sales. Newlands highlighted a renewed focus on critical brands like the Prisoner, Meiomi, High West, and Mi Campo, emphasizing the need for improved execution.
While Constellation Brands is best known for its beer offerings such as Modelo, Corona, and Pacifico, the company has seen strong beer sales, outperforming their wine and spirits division. Newlands expressed confidence in Sam Glaetzer, the new leader of the wine and spirits business, citing his extensive experience in the industry as a valuable asset to the company.
Moreover, Newlands highlighted the success and growth of the Pacifico brand, particularly on the West Coast and expanding to beach markets in Florida and New Jersey. He expressed optimism about Pacifico’s long-term potential and nationwide growth.
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