Turnaround for Corona?

Turnaround for Corona? Down in supers during latest period. Modelo, Tecate up.Corona Extra has seen sales slide since a price increase last year. Could a turnaround be on the horizon?Robert Sands, CEO of Constellation Brands (part owner of Corona importer Crown Imports), said that he's seeing encouraging trends. Beer Business Daily quotes from Sands' presentation at a Goldman Sachs event: Anecdotally, although we don't have any of the retail data at this point, Cinco de Mayo looks like it was a great holiday for us.

Our people feel that the product has gotten out there, the retailers have gotten back behind it. Going into Cinco de Mayo, as we said, we saw the portfolio return to growth, and therefore we are pretty optimistic that we're going to see growth return to both our business and the import category as we move through this calendar year.That said, Corona continued to slide in supermarkets during the four weeks ended May 3, according beer sales statistics from Nielsen.

Its dollar share dopped 0.5 points.The Modelo franchise -- Negra Modelo and Modelo Especial -- gained 0.1 points of share during the period (the two Grupo Modelo brands are handled by Crown). Tecate, brewed by Femsa and distributed by Heineken USA, gained 0.1 points.Beer Marketer’s Insights Express yesterday reported it had heard sales to retailers of Crown Imports (which handles Corona and other Grupo Modelo brands) were up double-digits during April.

BMI also reported on Sands' remarks.

From the report:

So said Constellation ceo Robert Sands at Goldman Sachs forum today. Anecdotally, Cinco de Mayo a "great holiday" for Crown and Robert said he didn't "think Bud Light Lime really hurt Corona at all" over that key holiday. Crown "not particularly concerned" as it expects Bud Light Lime to behave more like coolers, FMBs. Since Crown has now cycled last yr's price hike, retailers back in Crown's corner too.