Jan 10 (Reuters) - Corona and Modelo owner Constellation

Brands ( STZ ) cut its annual sales forecast on Friday as

persistently sticky inflation dents consumer spending on beers,

wines and spirits.

The company now expects annual net sales to grow 2% to

5%, compared with its previous forecast of 4% to 6% growth.

"Given near-term uncertainty on when consumers will

revert to more normalized spending, we have prudently lowered

our growth outlook," CEO Bill Newlands said.

Beer, which is Constellation's major revenue driver, saw a

mere 3.2% rise in depletion growth, or the rate at which

products are sold, in the third quarter, compared with an 8.2%

growth last year.

Overall demand for alcoholic beverages and spirits has

also come under pressure as more people opt for low-calorie and

lighter liquors.

The company expects adjusted profit per share for fiscal

2025 to be between $13.40 and $13.80, compared with its previous

forecast of between $13.60 and $13.80 per share.

Shares of the company were down about 2% in premarket

trading on Friday. They fell about 9% in 2024.

Last month, the company said it would sell its Svedka vodka

brand to New Orleans-based Sazerac.

Last week, Constellation stock dipped after the U.S. Surgeon

General said alcoholic drinks should carry a warning about

cancer risks on their label, signaling a shift toward

tobacco-style regulation for liquor and casting further gloom on

the industry.

For the third quarter ended Nov. 30, the company

reported net sales of $2.46 billion, below estimates of $2.53

billion, while adjusted earnings per share of $3.25, missed

estimates of $3.31 per share, according to data compiled by

LSEG.

(Reporting by Neil J Kanatt in Bengaluru; Editing by Anil

D'Silva)