US: Crown Imports’ sales rise 9% in the first quarter

Crown Imports, Constellation Brands Inc.'s 50-50 beer joint venture with Grupo Modelo SAB de CV, saw net sales rise 9% to $678 million in Q1 of its current fiscal year, while operating profit increased 10%, as the rollout of its Victoria brand offset increased marketing expenses, The Wall Street Journal reported on June, 30.

Constellation said in April that its fiscal 2012 forecast for Crown was "tempered" in part by higher incremental marketing costs. Crown promotes brands such as Corona, Modelo Especial and Tsingtao in the U.S.

Constellation’s Chief Executive Rob Sands said that distributor inventory for Crown products was "better positioned" this year than last as it heads into the key summer selling season.

Constellation Brands Inc.'s reported a 52% jump in overall fiscal first-quarter profit as the alcoholic-beverage company's continued cost-cutting efforts helped to offset a decline in sales.

01 July, 2011