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Saturday, April 10, 2021

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Shares in Constellation Brands jumped Tuesday after the maker of Corona Beer and High West whiskey said it was shifting operations as the viral pandemic caused bars to close and consumers to drink at home. Constellation CEO Bill Newlands said the company’s beer sales to off-premise accounts soared 30% in the most recent four-week period compared to their 52-week trend. Constellation is working to “meet increased consumer demand as purchasing shifts from on-premise establishments such as bars and restaurants to off-premise businesses such as grocery stores and convenience stores,” Newlands said. Constellation shares rose by the most in seven years Tuesday, closing up 17.2% at $123.82.

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