Constellation Brands CEO touts beer performance post earnings

Constellation Brands CEO Bill Newlands highlighted the past quarter's success in beer brands like Modelo, Pacifico and Corona in an interview with CNBC's Jim Cramer.CEO Bill Newlands highlighted the past quarter's success in its beer brands and said the company has been shifting its focus from mainstream to higher-end brands.

"Modelo is up almost 9%, Pacifico is up 15%, the Chelada business was up 40%, and we still see very solid success with Corona," Newlands said."Our business is performing, particularly on the beer side, very, very well, and we expect it to do that for a long time to come."Feeling out of the loop? We'll catch you up on the Chicago news you need to know.

"Three years ago, two-thirds of our business was in the mainstream, and the mainstream is very unhealthy," he said."Today it's one-third, and even though that area continues to drag on the overall business, the top end of our wine business is doing quite well and taking share."

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