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Constellation Brands, owner of Corona and Modelo, cuts sales forecast due to lower demand from Hispanic consumers.
Constellation Brands, which owns Modelo and Corona beers, has lowered its sales and profit outlook due to decreased demand, especially among Hispanic consumers who make up half of its business.
The company now expects a 2% to 4% decline in beer sales for the upcoming fiscal year, compared to a previously forecasted 3% increase.
This change is attributed to fewer shopping trips and lower spending per trip, particularly noted among Hispanic buyers.
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Constellation Brands, propietario de Corona y Modelo, recorta su pronóstico de ventas debido a la menor demanda de los consumidores hispanos.