Constellation Brands Appoints Georgia Lamb Senior Vice President of Human Resources for Constellation Wines Division 20 /PRNewswire/ Constellation Brands Constellation Brands, nba jerseys Inc., headquartered in Fairport, New York, is a leading international producer and marketer of beverage alcohol brands with a broad portfolio across the wine, imported beer and spirits categories., Inc., a leading international Moncler Kids dark blue Clothing-Fall-Winter producer and marketer Moncler Coats Affton Mid-length Men Brown of beverage alcohol vice president human resources The moncler womens coats outlet fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," Fashion Moncler Men down with Hooded Zip Yellow Vest manages the administrative aspects of the employees., Constellation Wines. Her primaryplanning and execution Moncler Loire down Women coat with zip coffee for Constellation Moncler coats for Women Fur collar long light gray moncler clothes sale s Global Wines Division. Millar has been compared to the likes of John Mayer, Jack Johnson (musician), as well as Ben Harper. [1]., chief executive officer, Constellation Wines moncler outlet deutschland and indirectly to Keith Wilson, chief human resources officer, Constellation Brands. Previously, she was vice president human resources, Constellation Brands."We believe that unifying our human resource functions across

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Constellation Brands CEO Discusses F3Q11 Results At this time, miami heat jerseys I would like to welcome everyone to the Constellation Brands third quarter 2011 earnings conference call. [ Instructions.] I would now turn the call over to Patty Yahn Urlaub, Vice President of Investor Relations. Please go ahead.Thank you operator. Good morning everyone, and welcome to Constellation s third quarter fiscal 2011 conference call. I am here this morning with Rob Sands, our President and Chief Executive Officer, and Bob Ryder, our Chief Financial Officer. This call complements our news release which has also been furnished to the SEC.During this call, we may discuss financial information on a GAAP comparable organic and constant currency basis. However, discussions will generally focus on comparable financial results.Please also be aware that we may make forward looking Moncler Women goose down coats moka Hooded with Zip Brown statements during this call. Although statements represent our best estimates and expectations, actual results could differ materially from our estimates and expectations. For a detailed list of risk factors that may impact the company s estimates, please refer to the news release and Constellation s SEC filings.And now, I d like to turn the call over to Rob.Thanks Patty, and good morning and happy New Year everyone. I hope you all had a great holiday and certainly had the opportunity to enjoy some of our fine products during the festive season. and Australian business to CHAMP Private Equity.Since the time that we acquired Hardys in Australia and Matthew Clark, we have adopted a new business strategy which has been focused on premiumizing our portfolio, generating strong free cash flow, and improving return on invested capital, all in an effort to drive profitable organic growth. and Australia is the next transformational step in the execution of this strategy, as the business is no longer aligned buy moncler with our strategic imperatives.These international markets have been consistently challenged by foreign exchange volatility, grape oversupply, retail pricing pressures, and ongoing duty assessments which have collectively eroded profitability. And the majority of our sales volume in Australia has been dedicated to value priced bag in the box products. However, we will continue to maintain a 20% interest in the business.As a private equity firm, CHAMP will be operating the business very differently, and our remaining interest will enable us to participate in the potential upside. All employees currently dedicated to this business will transfer to the new entity. Despite the sale of our two largest international businesses, Constellation remains the world s number one premium wine company, and we remain committed to growing an international operation that is consistent with our overall strategy.Remember we currently sell and distribute our portfolio of brands in about 150 countries worldwide through Constellation Wines International, which will continue to invest resources in new, emerging, and established markets around the world. Constellation Wines International represents growth potential for the company going forward, and will continue to drive our premium portfolio around the world.And now I would like to focus our discussion on our financial and operational results for the third quarter. This quarter marks the continuation of the strong momentum we ve experienced this year in a number of areas which include the generation of record free cash flow levels that has been driven in part by our diligent focus, particularly in the area of working capital.The great news about this new level of free cash flow is that we believe it is sustainable longer term. markets.There moncler Men coats givorse for black Collar with Buttons seems to be some confusion related to the intricacies of the distributor Moncler coffee cowskin low Men Casual shoes contracts and their impact on our financial results since the inception of this initiative, which commenced September 1, 2009, so I will take a minute to describe how you should be thinking about the nuances of these contracts. These contracts included shipment commitments that required distributors to purchase specified levels of product in fiscal 2010 and during this fiscal year, 2011.Last year, depletions or distributor sales to retail lagged our shipments to distributors due to the challenging economic environment and the disruption caused by the distributor transition activity and our sales force reorganization. In fiscal 2011, Moncler long down coat brown while depletion trends for our products are healthy, they have not caught up to the contractual shipment levels.As a result, our sales volumes to distributors are exceeding distributor moncler coats for girls sales to retail and on premise channels. wine business and will create an EBIT comparison challenge for fiscal 2012. After the shipment commitments roll off at the end of fiscal 2011, under the distributor contract we expect shipments to essentially equal depletions for the remainder of the contract term on an annual basis.This was absolutely the best way to execute the distributor contracts as it ensured more stable sales, earnings, and cash flow, as well as complete distributor focus on the Constellation portfolio of products during the transition period.So, to put things into perspective relative to how Constellation is performing, it s best to consider the following. wine and spirits business across all channels increased 3%.Interestingly, this includes the on premise channel, which has been slowly improving throughout the moncler outlet online shop uk year and posted positive growth trends in the low single digit range during the third quarter for Constellation and for the industry as well. wine profitability, posted depletion trends of almost 10% in the third quarter. wine brands, many of which are in declining categories. wine portfolio are generally aligned with industry trends across all channels in the mid single digit range. It is a combination of these and depletion trends that are indicative of the underlying health of our business.Additionally, although promotional spending on an industry wide basis appears to be abating slightly, it is a bit higher than last year and what we originally anticipated. also progressed in efforts to improve cost, cash, and operational effectiveness with activities that included completion of the east coast winery consolidation effort, further consolidation of the California warehouse system, continued expansion of the solar energy initiative at several of our California facilities, and in addition to these accomplishments, we ve recently received several accolades for our well known portfolio of brands, the following of which are particularly noteworthy.Robert Mondavi s director of wine making, Genevieve Janssens, has received one of the industry s highest honors and was named 2010 Wine Star Winemaker of the Year by Wine Enthusiast magazine. Constellation also won eight Impact Blue Chip Brand Awards, more than any wine company has ever won in a single year. brands include Estancia, Blackstone, Clos du Bois, Robert Mondavi Private Selection, Woodbridge, Corona Light, Modelo Especial, and SVEDKA.Wine and Spirits Magazine named Ravenswood as one of the top 100 wineries of the year and Joe Peterson, founder of Ravenswood, is being inducted into the Culinary Institute of America s Vintner s Hall of Fame in February.The accolades also continue for our Canadian business. At the International Wine and Spirits competition in London, Vincor achieved Gold and Best in Class wins for Inniskillin Wines Niagara, the 2007 Cabernet Franc Icewine, and 2007 Sparkling Vidal Icewine. Jackson Triggs Okanagan Estate 2007 Proprietors Grand Reserve Riesling Icewine, and 2007 Sunrock Vineyards Shiraz. And Jackson Triggs Okanagan Estate was also awarded best Canadian producer.Moving to Crown Imports, we previously reported during the third quarter we settled our legal dispute with Modelo relating to the calendar 2010 funding of marketing and promotional spending, which was incremental to that [inaudible] original Crown joint venture agreement. As part of this settlement, the partners decided on future funding levels for these same expenditures for calendar 2011, through the remainder of the term of the joint venture agreement, which requires that Crown pay for a percentage of the incremental funding going forward. imported beer category.I would now like to move on to a discussion of Crown s operational results for the third quarter. During the third quarter, Crown worked closely with distributors to bring their inventories to more normal levels after experiencing supply chain disruptions this summer related to a combination of Hurricane Alex and a Modelo brewery strike in Mexico.This effort, combined with the positive marketplace momentum that the Crown portfolio of products has experienced throughout the year, resulted in improved performance through the third quarter. During this timeframe, Crown outperformed the industry, the import category, and the other three major beer suppliers in the SymphonyIRI Food, Drug, Mass Merchant, and Convenience channels Moncler down Vest Women zip maize on a dollar sales basis

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