CEO Nicholas Fink, who took over in April, said Corona Extra and Modelo Especial benefited as the World Cup, NBA Finals and holiday gatherings helped extend social drinking occasions despite broader category weakness.
Constellation Brands said U.S. beer sales rose about 2% in the three months ended May 31, marking a second straight quarter of gains after three quarters of declines, as summer and sports-related social gatherings helped lift demand. CEO Nicholas Fink, who became chief executive in April, is focusing on reviving beer performance in a market still pressured by shifting spending patterns, healthier lifestyle trends, the growing popularity of weight-loss drugs and higher living costs.