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Modelo maker Constellation Brands
withdrew its previously issued fiscal 2028 outlook on Wednesday and reported slightly weaker demand as consumers navigate a rapidly evolving macroenvironment.
The company said it was encouraged by the momentum in the fourth quarter across its beer and wine and spirits businesses, but the larger environment indicates lingering uncertainty. Constellation Brands also previously appointed Nicholas Fink as its new CEO, effective April 13.
“We expect the operating environment to remain dynamic given the evolving socioeconomic backdrop and limited near-term visibility,” the company said in a statement.
