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Constellation’s wine and spirits sales fall 7% 9th April, 2021 by Nicola Carruthers
Svedka owner Constellation Brands saw full-year sales for its wine and spirits unit fall 7%, with a double-digit decline predicted for fiscal 2022.
The 30% ABV zero-sugar Svedka Pure Infusion range was released last year
In the 12 months to February 2021, Constellation Brands’ wine and spirits business saw net sales reach US$2.54 billion, down from US$2.72bn year on year. Operating income fell 12% to US$622.4 million.
In total, the company’s net sales rose 3% to US$8.6bn for fiscal 2021. The company’s biggest business, beer, increased net sales by 8% during the period.