Constellation Brands CEO Bill Newlands said that Modelo Especial beating Bud Light in sales dollars to become America's top-selling beer came “a little sooner' than expected.
Constellation Brands and the president of its beer division, Jim Sabia, have "often said that that was going to happen in the next few years, but obviously, it happened a little sooner than we had anticipated," Newlands said Friday. He made the remark during the company’s fiscal first-quarter earnings call after an analyst had asked about the impact of Bud Light’s controversy on Constellation Brands’ business and any potential changes in connection to it.
"I think one of the things that you’re likely to see if some of that challenge continues is when we look at shelf sets in the back half of the year. You know, many retailers look at velocities as they are doing their re-shelf setting, which, again, often happens in the fall, and that always works to our advantage," Newlands continued.
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