The Buzz
All markets and investing news all the time

Steve Black Madden BHFO Womens Bailey Black Fashion Bailey Sneakers 5.5 Medium (B,M) BHFO 1935 260ca18

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: Steve Madden
Color: Black MPN: BAILEY
US Shoe Size (Women's): 5.5 Medium (B,M) Width: Medium (B, M)
Style: Low Top Material: Fabric/PU/Man Made
Country/Region of Manufacture: China Heel Height: Med (1 3/4 in. to 2 3/4 in.)
Material Composition: Fabric/PU/Man Made UPC: 190640946223

Steve Black Madden BHFO Womens Bailey Black Fashion Bailey Sneakers 5.5 Medium (B,M) BHFO 1935 260ca18 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Steve Black Madden BHFO Womens Bailey Black Fashion Bailey Sneakers 5.5 Medium (B,M) BHFO 1935 260ca18
Steve Black Madden BHFO Womens Bailey Black Fashion Bailey Sneakers 5.5 Medium (B,M) BHFO 1935 260ca18 -

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%.

Steve Black Madden BHFO Womens Bailey Black Fashion Bailey Sneakers 5.5 Medium (B,M) BHFO 1935 260ca18

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Steve Black Madden BHFO Womens Bailey Black Fashion Bailey Sneakers 5.5 Medium (B,M) BHFO 1935 260ca18 -
About This Author
Steve Black Madden BHFO Womens Bailey Black Fashion Bailey Sneakers 5.5 Medium (B,M) BHFO 1935 260ca18 -
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
ASICS WOMEN'S Training: GEL-Fortius TR (S384Y) Black White Pink Size 10.5 NICE!Steve Madden Womens Frederica White Fashion Sneakers 10 Medium (B,M) BHFO 0372New Balance 760 Women's - Size 7 1/2 - Euro 38 - White Blue Grey , NIKE CITY COURT Women's Running White Sneakers US 8.5 M/ , Womens Puma Bravery Sneakers Gray Size 6 Running Eco OrtholiteWild Diva Rose Gold Pyramid Sneakers Size 8.5 , naturalizer Marianne Slip-On Fashion Sneakers 963, Black Leather, 9 US / 39 EUHoka one one hubble Size 8vibram fivefingers Womens Blue 13W3304 Running Walking Toes ShoesNew Merrell Womens Siren Sport Q2 Shoe Amputee SINGLE RIGHT FOOT ONLY Size 8.5 , Steve Madden Womens Bailey Black Fashion Sneakers 7.5 Medium (B,M) BHFO 3768Cushe Shoes Size 6 Women's Boutique Sneak Leather Black Gold Sneakers CasualKeds Women Ortholite "Glimmer" Boat Shoes Slip On Brown Shimmer Sz 10 Very Nice , SKECHERS Gray/Teal Open-Back Slides Women's Size 8.5 Medium EUC , DESIGUAL TENNIS VERT EAU FEMME 40 TBE , Brooks sz 10.5B Addiction Walker silver white womens running sneakers shoes , Ahnu Sugarpine Gray Waterproof Hiking Trail Shoes Size 10.5Sperry Top Sider Womens 8M Silver Metallic Leather Slip on Sneakers Flat ShoesJellypop Women's Inspired Sneaker, Black, 8 Medium US , Footjoy LoPro Collection Women's Black Leather Soft Spike Golf Shoes Size 7M F8 , New Balance™ ~ 461 All Terrain Run Shoes ~ WT461RP ~ Women Sz 9.5 WideNew JSport by Jambu Womens Newbury Navy/Light Pistachio Hiking Shoes Size 9 , Columbia Copper River II Leather Hiking NBoots Womens Size 6.5 Omni Tech , Keds Womens Champion Canvas Low Top Slip On Fashion SneakersSkechers Women's White and Tan Leather Walking Shoes Size 9Steve Madden Womens Boca Silver Fashion Sneakers 5.5 Medium (B,M) BHFO 4579ASICS GEL EXALT T272N gray mesh & suede w/turquoise & orange accents 8.5M goodDisney Princess Women's Sneakers Shoes | SIZE 10**Sugar Grasshopper Slip On Sneaker - Women's Size 9.5, Blush ,
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 Joan & David Black Suede Ankle Heels Boots Side Zip size 8M , GH Bass & Co Grey Suede Pull On Ankle Boots Women's size 7 1/2AK Anne Klein Jeannie Comfort Ankle Boots 801, Black, 7.5 USSCARLETT-22-05 WOMEN FUR TALL WINTER BOOT J’S AWAKE BLACK , Womens Sz 7M Brown Leather Cowboy Boots Braided Anklet Silver Chain TipsLucky Brand Terrie Peep Toe Booties, Black, 7.5 US / 37.5 EUWomen's Nine West Knee High Boots - Shearling - Black Fabric - New!!Sperry Top-Sider Women's Kendall Loafer, Light Grey/Phthon, 7 M US , WOMENS GAZITH BOOTS LEATHER SIZE 36/ 6 TO 6.5 BROWNS AND RUST , Givenchy Dark Brown Criss Cross Ballet Flats Size 39/8.5Alegria Women's Paloma Mary Jane Clogs Workwomanship Size 37 38 39 40 41 42 , Amalfi by Rangoni Italy Quilted Leather Tortoise Horsebit Ballet Pumps Sz 8.5 , Nine West Beachinit Metallic Womens Ballet Flat- Choose SZ/Color. , Tod's Tan Nubuck (Suede) Cap Toe Derby Mint M / USA 7 M , Salvatore Ferragamo Burgundy Leather Bow Flat Vara Block Heel Pumps Sz 9.5 AA , RALPH LAUREN PURPLE LABEL OXFORDS BROWN LEATHER W MESH WOMEN 7.5 B MADE IN ITALY , BURBERRY Shoes Leopard Print Camel Loafers Flats Sz 36 Worn Once! MSRP $650VASQUE Mantra 2.0 GTX Goretex Low Hiking Shoe Womens Size 7.5 Brown Leather $150 , Nike "Flex 2014 Run" Black and Red Running Shoes....5.5Y USSilver Women Sneakers Tenagers Casual Shoes Pink Black Silver Soft Sneakers New , Women's Creeper Slip on Flower Bead Blingbling Canvas Flat Heel Shoes WedgeArnaldo Toscani Shoes Women Ballet flats Pink 87504 BDT SALEadidas Superstar Metallic Snake Iridescent White Kids Boys Girls Trainers S76352New Womens Nike free rn flyknit 2017 Running Shoes 880844-010 sz 6.5 BlackWOMEN'S/JUNIOR SHOES SNEAKERS ADIDAS ORIGINALS SWIFT RUN [CM7919] , Easy Street Womens Barbara Low Top Slip On Fashion Sneakers, Beige, Size 7.0 w0MWomen's Grace Saddle Naturalizer Flat Flats , Women's Ralph Lauren Black Boots Boots , Steve Madden Women's Proud Sneaker - Choose SZ/ColorSteve Madden Women's Vibe Slide Sandal Blush Knit Fabric Slides
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Steve Black Madden BHFO Womens Bailey Black Fashion Bailey Sneakers 5.5 Medium (B,M) BHFO 1935 260ca18 Athletic Shoes
Powered by VIP.