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Corona brewer says Hispanics are recovering from Trump shock

U.S. consumer confidence soared after the election of Donald Trump, as Republicans changed their views on the direction of the country almost overnight. But one consumer group was particularly shaken by the thought of Trump in the White House: Hispanics.

“We saw a disproportionate negative impact on Hispanic consumer confidence,” Robert Sands, CEO of Constellation Brands, a beverage company whose products include the beers Corona, Modelo, and Pacifico, said in April. (Hispanic consumers account for roughly 40 percent of Constellation’s sales, the company has said.) “That’s kind of for all of the obvious reasons, I think, which is related to the very unfortunate rhetoric with regard to Mexico coming out of the Trump administration and the news. Now, that said, I would say that the Trump factor has diminished somewhat.”

This week the company published the numbers to prove it. Constellation’s latest quarterly profit was surprisingly strong, thanks in part to strong sales around Cinco de Mayo and Memorial Day. The company’s share jumped nearly 6 percent on Thursday.