1417 ET - Constellation Brands expects its beer brands to grow between 2% and 4% in the coming years--down from the Modelo maker's prior view for beer sales to rise 7% to 9% over the medium term, and below Wall Street's expectations, Morgan Stanley analysts say in a research note. They attribute the tepid outlook to several pressure points including a broad-based shift towards health and wellness, less drinking among Gen Z consumers, and the increasing prevalence of cannabis. Constellation's outlook also figures high levels of shelf space. While this level is locked in for the current year, the analysts worry that the company's implied velocity declines could potentially pressure shelf space in the coming years. (connor.hart@wsj.com)
(END) Dow Jones Newswires
April 10, 2025 14:17 ET (18:17 GMT)
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