The Buzz
All markets and investing news all the time

American Rag Double 13081 Fringe Camel American Suede Pocha Boots Rag 7M 3e561d7

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
Accents: Fringed
Width: Medium (B, M) Modified Item: No
Pattern: Solid Country/Region of Manufacture: China
Boot Type: Casual Style: Mid-Calf Boots
Fastening: Pull On US Shoe Size (Women's): 7
Color: Brown Heel Height: Low (3/4 in. to 1 1/2 in.)
Occasion: Casual Material: Leather
Brand: Minnetonka UPC: Does not apply

American Rag Double 13081 Fringe Camel American Suede Pocha Boots Rag 7M 3e561d7 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
American Rag Double 13081 Fringe Camel American Suede Pocha Boots Rag 7M 3e561d7
American Rag Double 13081 Fringe Camel American Suede Pocha Boots Rag 7M 3e561d7 -

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%.

American Rag Double 13081 Fringe Camel American Suede Pocha Boots Rag 7M 3e561d7

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
American Rag Double 13081 Fringe Camel American Suede Pocha Boots Rag 7M 3e561d7 -
About This Author
American Rag Double 13081 Fringe Camel American Suede Pocha Boots Rag 7M 3e561d7 -
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
ETIENNE AIGNER "BRANDY" LEATHER ANKLE BOOTS.....SIZE: 8 M....EXCELLENT CONDITIONANA brand Black Leather Knee high BOOTS Strap detail Block heel size 9Shiny Curves Women's Red Rain Boots Size 9 Waterproof Slip Oil Resistant , J/Slides Petra Stretch black Stret Suede Over the Knee Sneaker Boot Sz 6Womans MOJO MOXY Khaki Abigail Ankle boots Heels Size 6 MNew Women Faux Suede Flat Winter Boots ~ 7 - 10/ Dark Brown , Prima Women's Walnut (TAN) Soft Leather Ankle Boots Sz 7 1/2PENNY LOVES KENNY New Dion Black Knee High Fold Over Tall Boots 7 , Aerosoles Dark Brown Ankle Boots Size 6.5Guess Mally Women’s Taupe Leather Kneehigh Wedge Boots Sz 9.5 MBlack Geier Wally Austria Zip Shoes Size 38 7 MSKECHERS Australia 7 black suede leather boots 3 button fur liningA2 By Aerosoles Mushroom Taupe Ankle Boots Size 6.5 M , Miz Mooz 37 Otis Women's Mid-Calf Black Zip Up Leather Boots VGUCMADDEN GIRL BOOTS CAUSED FAUX LEATHER GRAY ZIP UP BUCKLE WOMEN 8.5 8 1/2 NEWACME TAN BRAIDED WESTERN COWBOY BOOTS SZ 7Trotters T1661-001 Mindy Women's Booties SZ 8.5MJustin Women's Cream Roper Leather Western Boots Style L3762 Size 6 B (Lot A)Not Rated tall fringe faux suede boots size 11Steve Madden Sammm Brown Leather OTK Boot Size 8M E230 , Women's 9 BEARPAW Sheepskin Boots Abigail Hickory Suede Calf Height Rubber SoleWomens vintage 1990s black boots size 7Simply Vera Vera Wang Moas Gray suede Women Heel Shoes Booties Sz: 9 MNEW $74 Womens Skechers Adorbs Boots Shoes, size 7 , Black Leather Ankle Boots Ladies Size 7 1/2 MNaturalizer Marloe Women's Ankle Boot Black Sz 10 , Maine Woods Women's Western Leather Boots Style 26276 Size 6.5 M (Lot E)Skechers Boots- Women's Size 9 Black , RAMPAGE EVONNE TALL BLACK BOOTS WOMANS SZ 7M 3 3/4" HEEL BUCKLE
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 Rebel by Zigi Olaa Over The Knee Stretch Back Boots, BlackNew Kirkland Signature Women's Shearling Boots, Black Size 6 , NEW Women's Bogs Linen Rainboot Size 6 Dark Green Waterproof BootsLADIES SPOT ON BLACK KNEE HIGH BOOTS WITH ZIP FASTENER F50394Bottines Boots ANDRE Cuir Noir T 39 TBE , NEW! Skechers 48331 Womens Starship Mid Boot Chestnut 8 121M aaRetro Plus Size Mid Calf Boots Block Heels Tassel Pull on Womens Shoes Casual , $229 Report Signature Gemma Black Leather Over The Knee Boots Women’s Size 8 M* , New Columbia womens Heavenly Slip II Omni Heat waterproof zip boots Black 11White Mountain Bonita Knee High Boot Womens Size 7.5 M, BrownBen Miller Women's Brush Off Black Cherry M902L Size 6 B NEWChocolate Negro Size US 5.5 M Charcoal Leather Booties Heels New Womens , Cliffs White Mountain Felisa Flat Knee-High Boots 735, Brown, 8.5 USJoules Design Print Women Waterproof Fashion Rain Festival Walking Wellies Boots$299 SAM EDELMAN Johanna Tall Leather Suede OTK Over The Knee Boots Black 4 , SAS WOMEN'S FREETIME WALKING COMFORT SHOE ARCH SUPPORT, MADE IN USA , Miz Mooz Women's Cloud Flats in Nickel , NEW Opening Ceremony White Leather Slip On Women Shoes Sz 39 Euro 6.5 US (9.5")Clarks Women's Channing Ann Black Leather Ankle Shoes Boots 26113341Josef Seibel Cara Womens Dress Pump 38 BR/7-- Choose SZ/Color. , Tory Burch Verbena Leather Smoke Roccia Black Ballet Flats Womens Size 8.5 M* , Asics Gel Excite 3 Running Shoes Women's Size 8.5 , HandSewn COOMBS Leather Boot Shoe Moccasins Shoes Womens 5B NWOT Maine USA Gokey , Nike Womens Lunarglide 9 Running Trainers 904716 Sneakers Shoes 006Brooks Womens Glycerin 13 Athletic Support 3D Fit Print Running Shoes Size 9 , Brooks Womens 1202681D Navy/Teal/Mint Walking Shoes Size 9 (C,D,W) (30861)adidas Cf Advantage Cl - Black - WomensWomen's Breckelles Womens Judy-21 Pumps Shoes,Leopard-21,8 BootsWomen's Tilly’s boots BootsPuma Basket Heart Leather Wn´s Shoes White Women 367817-01
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
American Rag Double 13081 Fringe Camel American Suede Pocha Boots Rag 7M 3e561d7 Boots
Powered by VIP.