Constellation Brands CEO Bill Newlands told CNBC's Jim Cramer on Thursday how the company plans to improve its wine and spirits division, saying it will focus on"critical brands" in the segment."We're going to put a lot more focus on the critical brands, brands like the Prisoner, and Meiomi, and High West, and Mi Campo, as examples. We're also going to make sure that we focus our attention on execution," Newlands said.
Constellation Brands is primarily known for its popular beer offerings, including Modelo, Corona and Pacifico. Despite shortcomings with its wine and spirits business, the company's quarterly earnings report showed strength in beer sales. Management also indicated that much of its success over the past fiscal year is due to its beer segment.of Constellation Brands' wine and spirits business.
Constellation Brands is seeing success and growth in its Pacifico Brand, Newlands added. He noted that Pacifico is very popular in California, but it's also starting to grow on the east coast, including with"beach markets" in Florida and New Jersey. "It's very developed on the West Coast, but it's also really starting to express itself around the country," he said."We're very excited about the long term potential for Pacifico."Cramer's Lightning Round: Trade Desk is 'great'
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