Modelo, Corona sales plunge as demand among Hispanic consumers slips
1. Constellation Brands lowered its sales and profit outlook for fiscal 2026. 2. Demand for high-end beers declined, especially among Hispanic consumers. 3. Net sales of beer expected to fall by 2% to 4%, down from growth forecasts. 4. Adjusted earnings per share forecast decreased significantly from $12.60–$12.90 to $11.30–$11.60. 5. Shares dropped over 7% on the announcement.