US EditionTrump's Deportations Are Hurting Constellation Brands' Beer Sales
- According to a Wall Street Journal report, Constellation Brands, U.S. importer of Modelo and Corona, sees sales and profits decline as Hispanic shoppers cut back amid immigration fears.
- Following Trump administration's immigration crackdown since January, ICE enforcement increased, causing fear among Latino and Hispanic populations, reducing their public activity.
- Newlands reported a profit drop from $877 million in 2024 to $516.1 million this year, citing fewer drinking occasions due to ICE raids and consumer fears.
- Other packaged-food firms, like Coca-Cola, also saw sales decline, with North American volume dropping 3% in Q1, reflecting broader industry trends caused by consumer fears.
- Despite economic headwinds, the company reaffirmed full-year guidance, expecting to meet financial goals despite ongoing uncertainty.
14 Articles
14 Articles
Corona's owner says beer sales have slowed because one major customer group isn't buying beer like it used to
Corona's parent company said beer sales have declined because Hispanic customers are not leaving their homes as often.Tim Boyle/Getty ImagesCorona's parent company said beer sales have dipped because Hispanic customers are cutting back.Constellation Brands said its top sales states, with large Hispanic populations, saw subdued spending.Customers, both Hispanic and non-Hispanic, had cut back on going out and gathering in groups.Corona's parent co…
Major beers see sales nosedive as Hispanic shoppers cut back fearing Trump
Constellation Brands, the U.S. importer of Modelo and Corona brand beers, is seeing a decline in profit and sales that appears to be caused by Hispanic shoppers cutting back from public life in general, reported the Wall Street Journal on Tuesday evening.In 2024, the company posted a profit of $877 ...
Model and Crown Beers Face a Sales Crisis in the U.S.
Model and Crown Beers Face a Sales Crisis in the U.S.
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