Source: Seeking Alpha
Constellation Brands (NYSE:STZ) has grown earnings at a pace of over 20 percent over the last five years, so when it missed earnings in a big way in the last quarter, the stock got hammered.
The major contributors to the weak earnings performance were a significant increase in marketing spend, boost in cost of goods sold (COGS), and unfavorable FX.
Although the company obviously has no control over currency rates, it has stated it expects it to be a tailwind for the company for the remainder of the fiscal year.
