STZ investor presentation today

Constellation Brands will present at a virtual conference at 11.20 AM. Management will likely take the opportunity to level set some expectations before the event. The scanner data has been an excellent directional tool for forecasting current trends in the past, but the pandemic does not impact all off-premise outlets the same. The scanner data has shown Constellation Brands beer and wine business accelerate during the pandemic. The scanner data also does not capture on-premises near shutdown. We presented our Best Idea Long Black Book yesterday. We believe shares will have a higher multiple in the future due to the strength of its businesses during the pandemic. We expect better news flow in the coming months as well, but it will be helpful to make sure investors understand the limitations of operating in a pandemic. We presented our Best Idea Long Black Book presentation yesterday.

For webcast and materials: CLICK HERE 

 

Organic produce outpacing conventional (SFM)

Organic fresh produce sales in April increased by 18.4% to $542M, beating conventional produce in both dollars and volume gains, according to the Organic Produce Network and Category Partners. Traditional produce sales grew by 16.3% in April. Organic volumes grew 20.5% compared to conventional volumes up 15.4%. Organic fresh produce’s April growth rate decelerated slightly from March’s 22% growth boosted by stockpiling shopping trips. (Sprouts Farmers Market will also be presenting today.)

Spending on groceries in our survey flatlining at elevated (KR)

In the 10th week of our consumer survey, the share of respondents that said their grocery spending was the same as the previous week reached a new high of 44%. At the same time, the share of respondents that said they were spending less than the previous week reached a new low.

Three Insights | STZ presenting, organic produce outperforming (SFM), grocery survey elevated (KR) - three insights 52620

Three Insights | STZ presenting, organic produce outperforming (SFM), grocery survey elevated (KR) - three insights 52620