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Wednesday, November 11, 2009
Premium Wine Sales Up, But For How Long?
By Darryl R. Isherwood
FOXBusiness
High-end wine sales have been on the upswing this fall, but the outlook for the coming holiday season remains cautious, Constellation Brands (STZ) executives told Dow Jones Wednesday.
Premium wine sales have grown at a faster rate than value brands, Constellation chief commercial officer Jay Wright told Dow Jones.
“That’s an indication to me that the category is stable and there are one or two bright spots,” he said.
With unemployment at 10.2%, however, Wright and chief executive Rob Sands remain tempered in their expectations for the holiday
season.
Constellation shares rose 1.5%, or 25 cents, to $16.67 on Wednesday.
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