The Buzz
All markets and investing news all the time

New Low Blue Salvatore Ferragamo Leather 6 AAA Navy Blue Leather Low Heeled Shoe Italy c2648d7

Item specifics

New without box: A brand-new, unused, and unworn item (including handmade items) that is not in original packaging or ... Read moreabout the condition
Brand: Salvatore Ferragamo
Style: Loafers Fastening: Slip On
Country/Region of Manufacture: Italy US Shoe Size (Women's): US 6/UK 4/EU 36.5
Occasion: Casual Heel Height: Med (1 3/4 in. to 2 3/4 in.)
Width: Extra Narrow (AAA+) Material: Leather
Color: Blue

New Low Blue Salvatore Ferragamo Leather 6 AAA Navy Blue Leather Low Heeled Shoe Italy c2648d7 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
New Low Blue Salvatore Ferragamo Leather 6 AAA Navy Blue Leather Low Heeled Shoe Italy c2648d7
New Low Blue Salvatore Ferragamo Leather 6 AAA Navy Blue Leather Low Heeled Shoe Italy c2648d7 -

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 Low Blue Salvatore Ferragamo Leather 6 AAA Navy Blue Leather Low Heeled Shoe Italy c2648d7

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
New Low Blue Salvatore Ferragamo Leather 6 AAA Navy Blue Leather Low Heeled Shoe Italy c2648d7 -
About This Author
New Low Blue Salvatore Ferragamo Leather 6 AAA Navy Blue Leather Low Heeled Shoe Italy c2648d7 -
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
Women's Vince Camuto Evy Slip On Ballet Flats Leather Shoes Size M NEW!Tory Burch Reva Leather Metallic Leopard Ballet Flats Shoes Anthracite 10MTory Burch Prescot Black Patent Leather Woven Basket WeaveBallet Flats Size 7 , Casadei Ballet Flats Black 8M BowTORY BURCH Womens Black Patent Leather Ballet Flats Sz 5.5 MPrada Black Leather Loafer Size 9Prada - Red Leather Ruched Round Toe Flats Size 8.5Frye Melissa Oxford Shoe - Women's Size 9 M, Dark Grey , Women's Tory Burch 37078 Black Soft Patent Leather Ballet Flat Shoes Size 8 MTods Suede Gommini Suede Moccasin Slip On Loafers Flats Sz 36 Driving ShoesSkechers Womens Sure Trak Erath in Black , Women's Shoes Size 8.5 SAS NEW Color Bone WhiteSalvatore Ferragamo Women's Varina Patent Leather Ballet Flats / Blush 7AGl Womens Black Leather Flats 40NIB Stuart Weitzman JazzyGirl Woven Oxfords 5 5.5 6.5 7 7.5 8Kenneth Cole New York Jayden Loafers, Rose GoldROGER VIVIER PURPLE SUEDE "GOMMETTE" BALLET FLATS with BLACK BUCKLETOD'S $445 Black Leather Gommino Driving Moccasins Loafers Shoes Women's 40 10Tory Burch Melody Pointy Toe Flat Womens Size 7M Black , Tory Burch Gray/Navy Blue Flats, Sz 8Arcopedico Women's Queen II Loafers Shoes, Black - Size 9B , Free People Royale Flat - Women's Size 9 - BrownNEW Sam Edelman FELICIA Asian Floral Ballet Flats Sz 8Rothy's Flat Black NEW size 8Cole Haan W08353 Zerogrand Stitchlite Blue Oxford WomensAriat Ladies' Fleece Cruiser Slip-On ShoesWomens ECCO CRISP 227854 brown leather fashion sneakers sz. 38 (US 7.5) NEW! , MADEWELL BRAND NEW (NIB) WOMAN’S LEATHER SHOES BALLET’ STYLE FLATS Size:9.5NEW FRYE Black Distressed Suede Leather Shearling GEMMA Slip On Loafer WMS Sz 11 ,
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 Crown Vintage Ankle Boots Womens Booties US size 10 Brown Leather Western Boho , Crocs patchwork cobbler suede leather brown boots size 9 1/2Womens CHOOKA Wellies Rain Boots Gumboots Moto BLACK 9 Booties Ankle RainbootsZODIAC WOMENS GRAY LEATHER MID CALF BOOTS WOMENS US 5.5 M , Brown Quality Faux Leather Suede Tall Slouch Comfort Boho Boots Size 8.5 WomensWOMEN'S LADIES FAUX SUEDE FASHION PIXIE ANKLE BOOTS FLATS SHOES UK SIZE 9 FM-2Fashion Womens Side Zipped New Stylish Pointy Toe Kitten Heels Ankle Boots HotTan Round Toe Sexy Ankle Boot Gold Stud -Us Womens Size 6 , LADIES BLAZIN ROXX SUGAR SKULLS ROCKI RUBBER RAIN BOOTS 58100 , Unisa Womens Ressie Fabric Almond Toe Ankle Fashion Boots, Black, Size 7.5 C838Pajar Women's Iceberg Winter Snow Boots Waterproof Leather Size 7-7,5 , Born Boots Womens 7M Brown Suede Leather Side Zip Tassel Lined Tall Riding ShoesAriat Women's Sadler Riding Boots - Women's size 8 - Black (Damage)Kenneth Cole New York Womens Newton Black Knee-High Boots 8.5 Medium (B,M) 1536 , CHAPS GALYN WOMEN'S BROWN ROUND TOE KNEE HIGH BOOTS SIZES 7.5 & 8 NEW! , Thigh Stretch High over The Knee Denim Open Toe Boot- Light blue DenimSam Edelman Women's Felicia Ballet Flat Copper Penny Crinkle Metallic Leather , Demonia Dank-110 Gothic Punk Oxford Style Platform ShoesFitFlop F-pop Ballerina Pony Womens F-Pop Ballet Flat- Choose SZ/Color. , VANS OFF THE WALL MULTI-COLOR SNEAKERS SIZE 6.5AGL 'Dakota' Silver Metallic Patent Leather Platform Oxford Shoes sz 39.5Skechers Women's Go Run Mojo-14843 Sneaker , New Balance Fresh Foam Cruz Black/Gum Women's Running ALL NEWNike Womens Tennis Classic Ultra Flyknit Shoes Size 10.5M Turquoise 833860-300Reebok Hayasu Women Studio Fitness Shoes Chalk/Sandstone/Melon BS9480 MM1 Sz 9.5 , Women's BWT Prada loafers Flats , Women's ECCO Winter Boots Size 7 Boots , WOMENS NIKE ZOOM FLY SP RUNNING SHOES (AJ8229 108) SZ: WMNS 7.5 RETAIL: $150.00 , New Adidas Stella McCartney Ultra Boost 6.5 NEW in Box , Nike Air Max 2017 Women's Running Shoes Platinum/Phantom (849560-005) Size 8.5 ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
New Low Blue Salvatore Ferragamo Leather 6 AAA Navy Blue Leather Low Heeled Shoe Italy c2648d7 Flats
Powered by VIP.