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Paul Masson brandy is included in the US$1.7bn deal

Constellation Brands Inc (NYSE:STZ), owner of alcohol brands including Corona, Modelo and Svedka, posted fiscal fourth-quarter numbers that have traders toasting their results.

It was reported last month that Constellation was nearing a deal to sell off some of its underperforming lower-end wine brands.

Constellation, which is set to report quarterly results on Thursday, retains a host of brands including Robert Mondavi, Meiomi and Kim Crawford.

The company's new low-calorie Premier beer and Corona Familiar, launched in the United States early previous year, boosted beer sales up 9.3 percent to $1.09 billion in the three months to February 28 and helped it beat analysts' estimates.

Constellation Brands posted a 7% increase in net sales in its fiscal full-year results, as the United States company was boosted by its Corona and Modelo beer brands.

Net income attributable to the company rose to $1.24 billion, or $6.37 per class A common share, for the quarter, from $910.5 million, or $4.56 per share, a year earlier. The company said it expects fiscal 2020 comparable earnings per share in a range of $8.50 to $8.80, excluding Canopy Growth equity earnings, compared with $9.34 in fiscal 2019.

How two engineering students scammed Rs. 6cr out of Apple
Of those, Apple approved 1,493 requests and replaced the iPhones for free, incurring a total loss of around $895,800. According to Apple's business records, Jiang submitted 3,069 warranty claims, out of which Apple granted 1,493.

After the markets closed on April 3, Constellation Brands announced that it would divest 30 wine and spirits brands and the related facilities to E. & J. Gallo Winery for $1.7 billion.

Speaking on a conference call with investors on Thursday following the beer and wine-maker's fourth-quarter earnings, Bill Newlands said he expects Canopy Growth to benefit from more brick-and-mortar retail stores coming online in Canada and the roll-out of vape, edible, beverage products in that market next fall.

-Constellation raised its profile a year ago by investing in Canopy Growth Corp., the world's most valuable marijuana company.

Following the Gallo deal, Constellation Brands said it will implement a cost-cutting plan for the current and next fiscal year.

The company reported Thursday that it saw profits of almost one-and-a-quarter billion dollars for its fiscal fourth quarter, and sales totaling almost $2 billion.

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