VICTOR, N.Y. (WROC) — Victor-based Constellation Brands rumored a second quarter loss of quite 0.5 a billion bucks.
Constellation’s core businesses — brewage and wine — do well, however the company’s investment in marijuana is to blame for most of the loss.
Constellation endowed quite $4 billion within the Canadian Pot Company known as cover Growth. Bloomberg known as it a “big bet” on weed turning into legal within the us, however that huge bet has not paid off.
The company rumored a loss of $525 million, with eightieth of the losses coming back from its marijuana business. a pointy flip from last year’s second quarter once the corporate rumored quite $1 billion in profits.
The company started in Victor in 1945 and continues to be headquartered there.
Despite the loss, Yahoo News reports the company’s core businesses do well and brewage saves jumped seven-membered.