The Buzz
All markets and investing news all the time

New Calf! Charles Albert River Strapped Mid Mid River Calf Boot Size 10M-Cognac 805a260

Item specifics

New with box: A brand-new, unused, and unworn item (including handmade items) in the original packaging (such as ... Read moreabout the condition
Style: Fashion - Mid-Calf
Material: Leather Brand: Charles Albert
US Shoe Size (Women's): 10

New Calf! Charles Albert River Strapped Mid Mid River Calf Boot Size 10M-Cognac 805a260 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
New Calf! Charles Albert River Strapped Mid Mid River Calf Boot Size 10M-Cognac 805a260
New Calf! Charles Albert River Strapped Mid Mid River Calf Boot Size 10M-Cognac 805a260 -

The beer trade has been a good one for Constellation.

Bottoms up! Constellation is cashing in on America's love affair with Corona.

Shares of Constellation Brands (STZ) opened sharply higher Wednesday after the beer and wine company reported strong quarterly results, although the stock has now fallen back.

The buzz kill came after Constellation executives said on a conference call with analysts that the cost of expanding a brewery in Mexico would be much higher than previously expected.

The company raised its estimate for the cost of upgrading its Nava brewery to a range between $900 million and $1.1 billion, up from the previous estimate of between $500 million to $600 million. So far, Constellation has spent about $140 million on the brewery.

Robert Ryder, Constellation's chief financial officer, tried to put a positive spin on the news.

"Despite the increased cost to build out the brewery, our improved commercial results should keep our cash flow and delivering goals intact," he said.

Constellation said net income surged 92% in the fourth quarter to $157 million, or 79 cents per share. Analysts were expecting the company to report earnings of 76 cents per share, according to FactSet.

Corona is the best-selling imported beer in the United States, according to Constellation CEO Rob Sands.

Sales rose to nearly $1.3 billion, thanks largely to about $600 million from Crown, the division that distributes Modelo brand beers, including Corona, in the United States.

"We had a great year, driven by our beer business," Sands told analysts on a conference call today.

Constellation paid $5.3 billion to take full control of Crown last year as part of a complex deal between Anheuser-Busch InBev (BUD) and Mexico's Grupo Modelo.

The deal was held up in court after the U.S. government sued to block it over anti-competitive concerns. But regulators relented after AB InBev and Modelo gave Constellation "perpetual rights" to distribute the popular Corona beer in the U.S. market and tossed in a major Modelo brewery.

Related: Why six-packs are pricier in some markets

So far, Constellation's bet on Mexican beer is paying off.

Net sales in the beer segment rose 13% in the fourth quarter " due to volume growth driven by strong consumer demand," the company's report states.

The strength in beer helped offset softness in sales of wine and spirits, which grew only 1% in the quarter.

Constellation expects beer sales to continue growing in its current fiscal year and is looking for income to grow "in the low to mid 20 percent range."

That should lead to better-than-expected earnings. Constellation is now targeting earnings of between $3.75 to $3.95 per share for the full year, which would translate to earnings growth of up to 27%.

New Calf! Charles Albert River Strapped Mid Mid River Calf Boot Size 10M-Cognac 805a260

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
New Calf! Charles Albert River Strapped Mid Mid River Calf Boot Size 10M-Cognac 805a260 -
About This Author
New Calf! Charles Albert River Strapped Mid Mid River Calf Boot Size 10M-Cognac 805a260 -
Ben Rooney
Staff writer, CNNMoney

Ben Rooney is a staff writer for CNNMoney. He covers the European debt crisis and other international finance stories, in addition to writing about stocks, bonds, investing and other Wall Street-related news. Follow Ben on Twitter: @ben_rooney

To view my watchlist

Not a member yet?

Sign up now for a free account
Stupid Stock Move of the Day
#StupidStock Move of the Day! Yes, Urban Outfitters may be finally turnings things around. But $URBN up 17%? Seems a bit excessive, no?
Most Popular
You won the $1.5 billion Powerball! Here's your tax bill
BCBG Light Brown Suede leather High Heels Size 7.5 Ankle boots bootiesSODA SKI Women's Moccasin Beaded Soft Faux Fur Mid Calf Casual Boots Winter , AR35 Fionn Combat Boots 418, Black, 9 USRelativity Women's Scarlett Faux Suede Knee High Boots TW4 Black TW4 Size 10M , NWT WENDY WILLIAMS SUEDE LEATHER ZIP UP ANKLE BOOTS BOOTIES SIZE 7M BUTTERSCOTCHTan Leather Knee High Boot with Buckles "JDairy" by Jessica Bennett - Size 6M , Hush Puppies Waldere Brown Suede & Stretch Fabric Bootie. Size 7 M. (3094) , DV by Dolce Vita Clarity Tall Brown Riding Boot Size 5.5VIA SPIGA Women's BROWN Leather Midi Heel Calf Riding BOOTS Size 5.5 M 35Liliana PATINA-38 Nude Peep Toe Cut Out Ankle Boot Rhinestone Detail StilettoDR MARTENS DM110 AIR WAIR BLACK LEATHER STEEL TOE WORK BOOTS SIZE 6 Men 7 womenSTEVE MADDEN Kikiii Rouched Pull On Boots Black Boots Size 5.5 MCAPE ROBBIN Womens Connie Frayed Denim Rose Embroidered Boot Heels Black Sz 8 , Justfabulous Women's Kadijah Flat Boots MM1 Burgundy Size 7.5 $75EUC Sam Edelman Boots Brown leather Bess riding flats women Size 8 , Dr Doc Martens Canvas Pink Rose Floral Ankle Boots Size 42/11.5Steven by Steve Madden Karrie Black Leather Wedge Heel Ankle Boot Size 8.5Franco Sarto light Brown Leather and Suede Ankle Boots Size 9BOC Born Concept Black Zip High Heel Ankle Boots Womens Size 10 / 42Sergio Todzi Women's Zip Up Suedette Ankle Boots HD3 Khaki Size 6 , SheSole Calf High Rubber Boots NEW FUNKY Colorful Floral Cotton Lining Rain SZ 9 , NINE WEST "TUBBS" Black Suede Leather Knee High Boots 3 3/4" Heels Womens 7.5 M , Women's Lugz Leather Buckle Ankle Boots Size 9 Motorcycle Boots , Refresh Women's Megen-03 Asymmetric Zip Detail Knee High Boot AB4 Black Size 8.5 , Rebel by ZiGi Women's Nanon Block-Heel Booties GG8 Black Size 8 $69Gabriella Rocha Ramsie Red Suede Leather Knee High Boots Heels. Size 8.5REPORT Women's Jadah Black Faux Leather Riding Knee-High Boots, Size 6 , Tommy Hilfiger Women Ankle Boot Heels Brown Leather Side Zip size 7.5 MTotes Women's Waterproof Donna Boot, Black 7 Wide ,
Powerball winner can stay anonymous, judge rules
Counterfeit goods market is booming and becoming more dangerous
Kodak ditches digital cameras, will focus on photo printing New Old Navy Tan Faux Fur Boots Sz 8 , Born Concept Brown Leather Shoes Ankle Boots Size 7.5 , Vera Wang Lavender MISMATCH Womens 8 M Black Leather Moto BootsNEW Womens Fashion Faux Fur Boots Pump High Heels Zipper Winter Strap BucklesSD Women's Size 8.5 Michael Antonio Brandy Western Knee High Boots Natural NEW , Olivia Miller | NEW Black Fringe Boots Womens Size 8 , Bar III Paisley Women's Boots BlackFranco Sarto Womens Shoe Like Bootie Deepa 2 Leather Blush Pink Size 8.5 W New , Anne Klein Womens geonna Leather Pointed Toe Ankle Fashion, Beige, Size 10.0 KoT , Womens Zipper Leather Shoes British Retro Creepers Ankle Boots Booties FashionMarc Fisher Womens Amber Round Toe Knee High Fashion Medium Brown Size 5.5 4zv , Victoria's Secret Studded Over-the-knee Flat Boot - Colin Stuart® 7 , Mara & Mine Pony hair Skull Flat Shoes White Size 7 RRP $455 Now $149 new , BOUTIQUE 9 Women's Neekko Ballet Flat, BLACK, CALF HAIR, 8.5M, MSRP $150 , $695 Lanvin Wedge Ballerina In Goatskin Pink Platform Sz 38 , Soludos Women's Platform Smoking Slipper Tan 7 M US , Dirty Laundry by Chinese Laundry Women's Josephine, Black Sequins, Size 7.5 rzb1Femal Thick Bottom Sports Shoes Girls Athletic Suede Flat Trainers Walking Shoes , Gibellieri 2916a White / Black Stitched Quilted Leather Flats 36 / US 6OTBT Women's Scamper Shoes (6.5 B(M) US Womens, Burgundy)Cole Haan Womens Rachaelsam Closed Toe Loafers Sunshine stripes Size 6.0Adidas Alphabounce 1 W Granite/White-Green B39430 Women'sNike Roshe Run Sneakers Womens Suede Black Dark Sea Teal Tint 2013 Size 9.5 , Running Shoes Sports Printing Pattern Skateboard For Students Teens Boy Adult , Superga Women's 2750 Metallicmeshw Sneaker, Grey, Size 7.0New Balance 65 Woman's 7.5 Red/Gray WN65GR , ASH Bea High Top Hi Wedge Sneaker Blue Trainer Booties 6Itasca Women's Size 6 Boots Brown Black "Tahoe" Faux Fur Thermolite Insulation , Cole Haan Brown Leather High Heel Knee High Zip Up Boot Sz 10BHoka One One Women's Clifton 5 Running Shoe Marlin/Blue Ribn Sz 6-10 NEW 1093756 ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
New Calf! Charles Albert River Strapped Mid Mid River Calf Boot Size 10M-Cognac 805a260 Boots
Powered by VIP.