President Donald Trump’s hardline immigration policy is still hurting Constellation Brands’ beer sales as Hispanic shoppers pull back their spending. The brewer, which owns Modelo, Corona and Pacifico, says that roughly half of its beer sales come from U.S. Latinos. Constellation’s earnings and revenue for the quarter ended May 31 fell short of Wall Street’s estimates. Bottles of Modelo beer are displayed on a shelf at a BevMo store on January 05, 2024 in San Rafael, California. Justin Sullivan | Getty Images
Constellation Brands’ beer sales fell 2% in its latest quarter as President Donald Trump‘s deportations and consumers’ broader economic fears weighed on demand.
In April, Constellation CEO Bill Newlands said that Hispanic consumers are spending less due to their concerns about Trump’s hard-line immigration policy and possible job losses in industries with high Latino