The Buzz
All markets and investing news all the time

Tory Burch Sella Logo localjoes-27639 Slip On Slip Sneackers Black Nappa Leather Size 6.5 Logo 1d52c56

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
Material: Leather
Fastening: Slip On US Shoe Size (Women's): 6.5
Color: Black Style: Comfort
Brand: Tory Burch

Tory Burch Sella Logo localjoes-27639 Slip On Slip Sneackers Black Nappa Leather Size 6.5 Logo 1d52c56 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Tory Burch Sella Logo localjoes-27639 Slip On Slip Sneackers Black Nappa Leather Size 6.5 Logo 1d52c56
Tory Burch Sella Logo localjoes-27639 Slip On Slip Sneackers Black Nappa Leather Size 6.5 Logo 1d52c56 -

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%.

Tory Burch Sella Logo localjoes-27639 Slip On Slip Sneackers Black Nappa Leather Size 6.5 Logo 1d52c56

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Tory Burch Sella Logo localjoes-27639 Slip On Slip Sneackers Black Nappa Leather Size 6.5 Logo 1d52c56 -
About This Author
Tory Burch Sella Logo localjoes-27639 Slip On Slip Sneackers Black Nappa Leather Size 6.5 Logo 1d52c56 -
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
Beautiful Claudia Ciuti Leopard Flats Size US 9 , NIB Tory Burch Lowell 2 Ballet Flats Shoes Black Diamond Roccia sz 10 , NIB $250 Tory Burch HEIDI Ballet Flat Shoe Pewter Snake Print Logo Sz 6 Women's , Tory Burch Sand Color Square Toe Shoes Ballet Classic Flats Patent LeatherTOD'S Black Optical Ponyhair Loafers, Size 37.5 7.5 Shoes , Stuart Weitzman QUILTABLE Brown Leather Quilted Ballet Flats 8506 Size 7 M NEW!Tabitha Simmons Ballerina Shoe Bone Embroidered Suede Trim Ribbon Wrap Size 40Anyi Lu Cate Cheetah Print Ballerina Flat Black Women Sz 38.5NIB CHIARA FERRAGNI GOLD "I FEEL" SLIP ON TRAINERS Sz 38New Balenciaga Gray Python Band Wedge Sandal Size37.5Stubbs & Wootton NEW loafers size 7Charlotte Olympia Women's Black Gold Web High Tops Sneakers Sz 39MIU MIU Ballet Flat Ballerina Crystal Embellished Rhinestone Gray Metallic 40 10Womens THINK! Chili 228577 Black Leather Loafers Shoes Sz. 38NEW Tory Burch CHELSEA Ballet Flat BOYSENBERRY Soho Lux SUEDE (Size 08) , AE875 MOMA shoes red leather women ballet flats , PINKO WOMAN CASUAL LOAFER SHOES LEATHER STRASS CANVAS CODE MANDOLA 1P200M Z1D2GIAMBATTISTA VALLI black velvet ballet flats shoes Italian size 36.5 WORN TWICE , Tory Burch Chelsea Stitched Logo Ballet Flats Iced Coffee Size 7.5 MChristian Louboutin Gold Leather Peep Toe Ballet Flats Size 38.5$550 DEREK LAM COLLECTION AVERY SKIMMER SLIP ON FLATS GOLD POINT TOE Womens 39 9 , Salvatore Ferragamo 7 Black Leather Silver Buckle Flats Shoes NIB 1242-8-51018 , YSL Yves Saint Laurent Paris 10 Decolette Ballerina Flats Shoes 37.5 7.5 , TOD's moccasin loafers, orange leather, women's shoe size, US 8.5 $480 , Jimmy Choo Sandels Snakeskin Flats BRAND NEW Dory Straps Size 37NWOB $595 Ferragamo Suede Loafers sz 7B narrow 100% Authentic , $345 STUART WEITZMAN BEGET RHINESTONE SLIP ON FLAT PUMP LOW HEELS Women's 8.5 39Chloe Basic Espadr White Womens Shoes Size 8 M Flats MSRP $450Dr. Martens Phyllis Tassel Loafers RARE Size 7 ,
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 Matt Bernson Burgundy Suede Belted Wedge Boots NEW , Nine West Black Zip Ankle Biker Boots Size 7 MNature Breeze Belmont Over The Knee Boot taupe suede 10mNew Steve Madden Womens Edit Orange Velvet Ankle Boots Casual Fashion $100 , VIA SPIGA Black Leather Suede Fringe Zip Ankle Heeled Boots Booties Size 6 MWomens 6.5 M Clarks Artisan Brown Leather Cuffed Booties Slip-On Pump Shoes HeelSTONE TAUPE Ankle FRINGE BOOTIES Shoes Suede Heels Boots Boho Bohemian 5.5-10 , BOGS BERKLEY WOMENS BOOTS 7, 38, warm waterproof comfortable rain bootsSTEVE MADDEN women's Pink Ankle BOOTIES Block Heel Side Zip Sateen 6Jeffrey Campbell Glossy Black Rainboots Sz 7JOULES WELLY PRINT WOMEN'S TALL RAIN BOOTS GREY KIKI SPOT US 10Enzo Angiolini Eero Black Leather Tall Riding Boots. Size 6 M , Tahari Sincere Womens Shoes Size 8.5 Charcoal Gray Suede Booties Casual , Sanuk Nice Bootah Women's Boots Black 8Lady Couture Women's Rousso 3" Rhinestone Wedge Sneaker Shoes SilverSeychelles Women's Knee High Boots Size 8.5 Leather Brown Side ZipMATTERHORN Gore-Tex Black Military Combat Boots Womens US 8 N Steel Toe VibramWomens campus boots tall brown leather 10 N heeled moto western square toe USA , ARRAY Womens Brittney Leather Closed Toe Ankle Fashion Boots, Black, Size 9.0Stuart Weitzman Mulearky Beige Womens Shoes 6.5 M Clogs & Slippers MSRP $398Teva Wander Slip-on-W Womens Canvas Slip On- Choose SZ/Color. , Sigerson Morrison Women's Edna Loafer FlatBIRKENSTOCK Womens 6 - 6.5 Tatami RHEIN Germany Light Brown Leather Suede Clogs$110 Nike Air Max 90 Women’s Size 9 Wolf Grey/White Running Shoes 325213-048 NEWGEL LYTE V W ROUGE ORANGEWomen's Calvin Klein Eugenie Comfort Shoes , Women's KICKERS Gazellan Noir Flats , Women's ASH Black Booties sz. 35 BootsKensie Women's Garry Suede Short Heel Fashion Ankle Booties - Black - Size 9women over the knee high boots platform high heel pleated pull on sexy shoes ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Tory Burch Sella Logo localjoes-27639 Slip On Slip Sneackers Black Nappa Leather Size 6.5 Logo 1d52c56 Flats
Powered by VIP.