Constellation Brands (NYSE: STZ) ended fiscal 2020 on a positive note. The owner of popular imported beer franchises including Corona, Modelo, and Pacifico said on Friday that sales growth sped up in the year's final months, just before COVID-19 began impacting the industry. Depletions, a measure of consumer demand, rose 11% in the fourth quarter thanks to strong demand for both the Modelo and Corona brands. The company said its Corona hard seltzer launch was well received while demand for Modelo Especial spiked 18%. On the downside, Constellation Brands reported higher advertising sales, which hurt profitability, and the struggling wine segment continued to shrink. Image source: Getty Images. Executives offered no projection about how the coronavirus and related bar and restaurant closings might impact sales in fiscal 2021, which began on March 1. Yet the company said it has a strong financial position, with access to $2 billion of credit and an extra $850 million on the way from its wine and spirits divestment. "In this time of uncertainty," CFO Garth Hankinson said in a press release, "we believe we have ample liquidity and financial flexibility." Constellation Brands is "focused on prudently navigating the challenging operating environment presented by COVID-19," executives said. 10 stocks we like better than Constellation BrandsWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Constellation Brands wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of March 18, 2020 Demitrios Kalogeropoulos has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Constellation Brands. The Motley Fool has a disclosure policy.Source