Corona Beer Brewer Disputes Claims of Virus Impact on Sales
(Bloomberg) -- Constellation Brands Inc. said on Friday that concerns that the novel coronavirus outbreak is having a negative impact on consumer sentiment towards its Corona beer brand are “unfounded,” with sales of the beverage continuing to rise.
Citing recent IRI retail trends, the company said dollar sales of its Corona Extra beer were up 5% in the U.S. for the latest four-week period ended Feb. 16, nearly double the 52-week trend for the brand.
“Furthermore, all business units supporting our beer business are seeing positive sales trends for the brand thus far this calendar year,” the company said in a statement.
The company said it was responding to “recent misinformation” about the impact of the virus on its business that has been circulating in traditional and social media.
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