Wine Giant Giddy on Profits

The turbulent economy may be driving consumers to drink. While some might be crying in their beer, the world's biggest wine maker, Constellation Brands—whose labels include Robert Mondavi and Ravenswood—reported a huge 50% increase in profit the first quarter of 2008, reports the Wall Street Journal. Analysts believe fewer people are drinking in restaurants, opting instead to drown their sorrows at home.

The upturn may not be as surprising as it first appears. Insiders say alcohol sales are often not affected by economic downturns. "People drink when the economy is good, and they drink more when the economy is not so good," said a vice president at Constellation. (More Constellation Brands stories.)