Modelo and Corona seller Constellation Brands says Hispanic consumers in the US are buying less beer

Constellation Brands Outlook - (AP2010)

Constellation Brands, which owns the Modelo and Corona beers in the U.S., lowered its full-year sales and profit outlook Tuesday, citing falling demand from Hispanic consumers.

Constellation President and CEO Bill Newlands said U.S. purchases of high-end beers have declined over the past few months. Consumers are making fewer trips to buy beer and are spending less per trip, Newlands said.