News: Corona importer loses $23 million

 

Constellation Brands Inc. said Thursday it lost nearly $23 million in its fiscal second quarter as strong sales of vodka and high-end wines were more than offset by charges to shrink its operations in Australia. Its shares fell more than 6 percent. Constellation became the world’s biggest wine business by volume when it acquired Australian vintner BRL Hardy Ltd. in 2003. Its 300-plus brands run from jug wines to coveted California reds, including the Clos du Bois, Geyser Peak and Woodbridge by Robert Mondavi labels. It also imports Corona and St. Pauli Girl beer and owns liquors such as Fleischmann’s vodka and Black Velvet Canadian whiskey.

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