The Buzz
All markets and investing news all the time

Converse 537081F : Women's Chuck Taylor Taylor Shoreline Slip Casual : Shoe Shoe Black 32c671c




Item specifics

Condition:
New with box: A brand-new, unused, and unworn item (including handmade items) in the original packaging (such as ... Read moreabout the condition
Brand: Converse
Width: Medium Color: Black
UPC: 886951911189 Material: Canvas
Product Type: Womens Fashion Sneakers Style: Fashion Sneakers

Converse 537081F : Women's Chuck Taylor Taylor Shoreline Slip Casual : Shoe Shoe Black 32c671c - hollisbaker.com

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Converse 537081F : Women's Chuck Taylor Taylor Shoreline Slip Casual : Shoe Shoe Black 32c671c
Converse 537081F : Women's Chuck Taylor Taylor Shoreline Slip Casual : Shoe Shoe Black 32c671c - hollisbaker.com

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%.

Converse 537081F : Women's Chuck Taylor Taylor Shoreline Slip Casual : Shoe Shoe Black 32c671c

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Converse 537081F : Women's Chuck Taylor Taylor Shoreline Slip Casual : Shoe Shoe Black 32c671c - hollisbaker.com
About This Author
Converse 537081F : Women's Chuck Taylor Taylor Shoreline Slip Casual : Shoe Shoe Black 32c671c - hollisbaker.com
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
Contributors
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
 
NEW ASICS GEL EUPHORIA PLUS WOMENS SPORTS SHOES , Vans CHUKKA DEL BARCO C&L Black Women's Shoes 8 - Men 6.5 , Fashion Womens Slip On Chunky Platform Mules Trainers Sneakers Sports Shoes NewReebok Classic Nylon Slim Women's Girls Casual Retro Fashion Trainers PinkVans Era (Tonal) Estate Blue/White-Women's 7.5 , Easy Street Women's Calm ClogSkechers sz 9.5M Shape-Ups black walking womens ladies rocker shoes 24864Vans ISO 1.5 Blanket Weave Atlantic Deep/White Women's Shoes 6Womens Skechers Unity - Existent 23074 BKCC #BR , NIKE DUNK HIGH WHITE VARSITY ROYAL VARSITY RED WOMENS WMNS SZ 11.5 318676-111Womens Nike Orange White Free Run 5.0 Running Shoes Size 8.5Salomon Sense Ride Athletic Shoes - Women's Size 9, Navy/PurpleSkechers Work Shape Ups Black Fabric Toning Womans Shoe Anti Slip Womans S11/EWW , Womens Running Shoes ASICS Black & Blue T7B8N Gel Cumulus Size US 9On Cloud Womens Cloudflyer Purple Running Shoes Size 7 (390948)Unisex Converse Chuck Taylor All Star II Boot Fatigue Green 153570C Women 6 M 4 , New Balance Women's 515 Shoes Blue with White , Propet Stability Walker Walking Shoes - Women's Size 10 B, BlackBrooks Adrenaline GTS 18 Running Shoe - Women's 13, Navy/Teal/Mint , Women Rivets Studs Platform Wedge Fashion Sneakers Sport Ankle Boots High HeelsWomen's Brooks Revel running shoes sneakers size 8Puma Ignite Limitless Sneaker - Women's Size 8.5, Knockout Pink , Easy Spirit Twist8 Slip On Shoes Womens Athletic Casual Shoes Low Heel , ASICS GEL-Excite 4 Running Shoes, Women's Size 7, Navy/Silver/Purple , Ecco Bluma Slip On Shoe - Women's Size 10 - Dark Shadow , Propet Stability Walker Walking Shoes - Women's Size 12 D, Black , Nike SB Zoom Janoski CPSL Skate Shoes Various Sizes 855629 147 Tan Blue WhiteOn Cloud Womens Cloudflyer Purple Running Shoes Size 9 (367090) , Puma Women's Enzo Metallic Women's Cross-Trainer Shoe Size 8 ,
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 Nine West Womens Brown Ankle Booties Boots Size 7 MCarlo Rosetti Wedge Ankle Boot Women size 26/9-9.5 Brown Leather , Mango-51 Mid Calf Synthetic Zipper Low Heel Women's Casual Boots Brown 7.5^- , WOMENS JUSTIN BLACK LEATHER COWBOY WESTERN L3902 DISTRESSED BOOTS SIZE 5.5~1/2 BKS35 Gahriet Dress Ankle Boots 187, Black, 10 USFashion - Red, US Shoe Size (Women's) 9, Ankle, High (3 in. and Up) , REPORT SIGNATURE Black & Snakeskin Zip Up Ankle Boots Womens US Sz 9Calvin Klein Josey Harness Ankle Boots 583, Almond Tan, 8.5 USLFL by Lust for Life Womens lex Fabric Almond Toe Over Blush Velvet Size 6.0 Y , LADIES ANNE MICHELLE LOW CUT ANKLE BOOTS-F50693 , ALDO Shoes Taessa Suede Leather Ankle Boot Block Heel Bootie, Size 6.5, NEW $140 , NEW Charles By Charles David Faux Suede Burgundy Over The Knee Boot Size 5.5 1/2Diba Size 6.5 M Casper Black Suede Ankle Boots New Womens ShoesNine West 25026272 Womens Smoak Suede Ballet Flat- Choose SZ/Color. , BRUNO MAGLI Gorgeous black suede wit stretch fabric knee high boots SZ 39-9M , Hunter Navy Blue Rubber Round Toe Knee High Rain Boots Shoes Size 5AV69 FENDI US 8 shoes light brown red leather textile women ballet flats , Sigerson Morrison Women's Edna Loafer Flat Black Size 10.0VIONIC MIDI Slip On Loafers Sneakers Chunky Soles Black Suede Womens Size 9 MPrada Linea Rossa Leopard-Print Calf Hair Skate Sneaker size 37 Retail $720NWT Finn Comfort Soft Soho Hounds Tooth Sneakers Shoes Size 8.5 US (6.5 UK) , Tod's Penny Driver Loafer Navy Gommini Suede Size 36 Slip-On Flat Moccasin NEWAuth JIMMY CHOO Logos Leather Ballet Flats Sz 34 1/2 US 4 F/S 26872eSaMAdidas Energy Boost Zw Women's Shoes Size 5Skechers Street Women's Side Street-Happy tears Sneaker , New Balance Women US 10 Fantom Fit N2 Walking Running Shoes WW1765GPWomen's Dee Tangeri Sandal Flats , Women's Very Volatile Women's Eriko Mule Flats , Women Tassel Creepers Pull On Mid Calf Boots Bowknot Low Heels Ankle Boots Shoes , Sweet Womens Pointed Toe Faux Suede Zip Ankle Boots Wedge High Heels Shoes Size ,
 
University of Phoenix is the latest college under investigation
 
Latest Buzz Videos
See all videos
Converse 537081F : Women's Chuck Taylor Taylor Shoreline Slip Casual : Shoe Shoe Black 32c671c Athletic Shoes
1389354
2759992
3821790
5604336
6023493
16154572
16856034
17107111
17411491
Powered by WordPress.com VIP.