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Stock impact report

Constellation says Trump's immigration crackdown is hurting sales of Modelo, Corona [Yahoo! Finance]

Constellation Brands, Inc. (STZ) 
Last constellation brands, inc. earnings: 4/3 07:30 am Check Earnings Report
US:NYSE Investor Relations: cbrands.com/investors
Company Research Source: Yahoo! Finance
President Donald Trump's hardline immigration policies are weighing on sales of Mexican beers Corona and Modelo, according to owner Constellation Brands. Deportation threats and the potential of job losses have led to decreased spending among Hispanic populations, Constellation CEO Bill Newlands told investors Thursday . The demographic represents roughly half of the company's beer sales. Constellation has seen growth of its Mexican brews in the U.S. over the last three years as Modelo became America's top selling beer brand in 2023. However, the company has suddenly faced new headwinds as it's caught in the crosshairs of geopolitical decisions and broader consumer uncertainty. Part of Constellation's strategy to overcome difficulties in the beer market is to better advertise Modelo beyond the Hispanic market, where it already has a strong foothold. “We increased our [marketing] spend even though the consumer was pulling back, and we're seeing that providing great returns to Show less Read more
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