The Buzz
All markets and investing news all the time

Clarks Womens Artisan Knee Womens High Boots Tan Knee 8M 8M 4e2b90f

Item specifics

Pre-owned: An item that has been used or worn previously. See the seller’s listing for full details and ... Read moreabout the condition
Brand: Clarks
Material: Leather Boot Shaft Height: Knee-High
Heel Type: Wedge US Shoe Size (Women's): US 8
Width: Medium (B, M) Heel Height: Med (1 3/4 in. to 2 3/4 in.)
Color: Brown Style: Riding Boots

Clarks Womens Artisan Knee Womens High Boots Tan Knee 8M 8M 4e2b90f -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Clarks Womens Artisan Knee Womens High Boots Tan Knee 8M 8M 4e2b90f
Clarks Womens Artisan Knee Womens High Boots Tan Knee 8M 8M 4e2b90f -

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%.

Clarks Womens Artisan Knee Womens High Boots Tan Knee 8M 8M 4e2b90f

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Clarks Womens Artisan Knee Womens High Boots Tan Knee 8M 8M 4e2b90f -
About This Author
Clarks Womens Artisan Knee Womens High Boots Tan Knee 8M 8M 4e2b90f -
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
DAN POST Cowboy Dark BROWN & Tan LEATHER BOOTS Size 5.5 MWHITE MOUNTAIN ANKLE SHOE / BOOTS Slip-ON BLACK LEATHER 7.5 MXOXO Womens Brown Marila Boots Shoe Size 9 M , Clarks womens solid black Partridge heel wedge booties 9 M EUCWOMENS JUSTIN SQUARE TOE COWBOY FLORAL LEATHER BLUE BOOTS SIZE 6.5 BMagellan Outdoors Thermolite brown leather boots, size 9SEVEN DIALS CORI' Boot - Women's Size 6.5M Black , House-s by Soda, Vintage Western Stack Wood Tall Block Heel Belted Ankle Boots , ALDO Black Leather Ruched Pointed Toe Stiletto Ankle Boots Womens Euro 39Women's Nine West Number One Size 6.5M Knee High Boots Brown Leather Zip Up Q13WOMENS ROPER COWBOY ALLIGATOR PRINT LEATHER LIGHT PURPLE BOOTS SIZE 9Black Suede Tall High Heel Boots Size 5.5 BWOMEN'S BOOTS BLACK CABLE KNIT MUK-LUKS GRAY FAUX FUR TRIM LG BUTTONS SIZE 8 , VASQUE Alpha Women's Hiking Trail Ankle Boots Green Brown Suede Outdoors Shoes 6 , BP Nordstrom Beige Leather Ankle Boot/Bootie Shoes Women's Size 11M EUC!!!Sperry Top Sider Women's Sz 7 M Blue Water Proof Rubber Rain Boots Shoes , DV Dolce Vita Black Leather Buckles Mid Calf Adjustable Booties Boots Size 8 MSC35 Pettra Flat Knee-High Boots, BlackThom McAn Black Leather Square Toe Heeled Zip Ankle Boots Booties Size 9 W , American Eagle Outfitters Women’s Black Calf Zip Boot Size8JSport by Jambu Everest Short Snow Boots 503, Army, 9 US / 40 EUSKECHERS 'Grand Jams Unlimited' Black Suede Faux Fur Lined Boots Sz. 7.5 , SC35 Jamila Dress Ankle Booties, Barrel, 8.5 W US , Converse All Star White Mid Tennis Junior Size 5.5 Leather UppersWomens Black Suede Leather Ankle Boots Shearling Style Cozy Slipper Sz 9 MuklukDr Martens 11864 Brown AirWair Classic Ankle Shoes Womens Size US 5 DocsSteve Madden Midnite Women’s Zip Up Western style Ankle Bootie NEW 5.5M , WOMEN'S ANKLE BOOTS - CLARK - SIZE 9.5 , Just Fab Women's Tamsin Black Knee High Zipper Boots w/Fur top Size US 8.5 ,
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 Born Womens Black Leather Ankle Boots Size 9 M , Women's Jessica Simpson Celinna Booties Shoes Size 6.5M Black Open Toe Strap O15Womens Boots Size 7 Knee High Shoes Fashion Buckle Riding Style RSVP Man MadeVasque Gore-Tex Suede Hiking Trail Boot Women's 8.5MBLU SHU Boots Chocolate Brown Knee High Faux Leather Heel Size 37 / SB 543 , NIB Pleaser Black Faux Leather Grecian Style Knee High Boots w/Buckles Size 8AUTHENTIC FABI BLACK PATENT LEATHER ZIP R. TOE ANKLE BOOTS EUR SIZE 35 ITALY , DR. MARTENS WOMENS BROWN LEATHER US10 , New The North Face Women's Thermoball Women's Snow Black F0A2T5D Boots 6.5 , Nautica Women's Lovise Rain Boots Black Size 9 MEarth Central Brown Leather Thinsulate Snow Winter Boots Size 7, Excellent LN! , Ladies Clarks Casual Wedge Heel Shoes Hope RoxanneBCBG BCBGeneration Sigmond Knee High Boots Black 5.5Aldo Womens Cherryhill Pointed Toe Flat- Pick SZ/Color.Columbia Women's Minx Mid II Omni-Heat Boots GG8 Black Size 7White Mountain Latara Synthetic Knee High Boot size 6.5Harley Davidson Women's Black Textured Leather Harness Biker Boots Size 8 NWOT , Gerry Weber Lena Women's Formal Black Zip Up Pointed Toe Ankle Trouser Boots NewNine West Womens Begany Suede Ballet Flat- Pick SZ/Color. , Women's PRADA Vero Cuoio Real Leather Dark Blue Loafers Size 35.5 US 5.5 , BALLY MADE IN ITALY SUEDE SLIP ON SHOES SIZE 7 1/2 M RED COMFORTTory Burch Reva perforated leather blaze orange ballet flat 9.5 logo coral new , Women's Nike Air Max 90 Premium Safari Black and White size 6.5 , NIB TORY BURCH NAVY BRYANT QUILTED LEATHER GOLD REVA THONG FLATS SANDALS 8.5Pantofola d'Ora womens italian dark gray ballerina leather flats size 38 US 7.5Womens White Nike Air Max Motion Size 8 , adidas response lt - Grey - Womens , Women's Brooks Womens Launch 4 Athletic ShoesWomen's Vintage knee high camel boots Boots , TOETOS DALLAS Women's Chunky Block Heel Zipper Suede Leather Ankle Booties
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Clarks Womens Artisan Knee Womens High Boots Tan Knee 8M 8M 4e2b90f Boots
Powered by VIP.