The Buzz
All markets and investing news all the time

Clarks Womens Black Suede Kendra Mix Mix Kendra New Heels Ankle Booties Shoes Ret $99 New 2f42c80

Item specifics

New with box: A brand-new, unused, and unworn item (including handmade items) in the original packaging (such as ... Read moreabout the condition
Brand: Clarks
Style: Booties

Clarks Womens Black Suede Kendra Mix Mix Kendra New Heels Ankle Booties Shoes Ret $99 New 2f42c80 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Clarks Womens Black Suede Kendra Mix Mix Kendra New Heels Ankle Booties Shoes Ret $99 New 2f42c80
Clarks Womens Black Suede Kendra Mix Mix Kendra New Heels Ankle Booties Shoes Ret $99 New 2f42c80 -

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%.

Clarks Womens Black Suede Kendra Mix Mix Kendra New Heels Ankle Booties Shoes Ret $99 New 2f42c80

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Clarks Womens Black Suede Kendra Mix Mix Kendra New Heels Ankle Booties Shoes Ret $99 New 2f42c80 -
About This Author
Clarks Womens Black Suede Kendra Mix Mix Kendra New Heels Ankle Booties Shoes Ret $99 New 2f42c80 -
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 Block Heels Pull on Stretchy Over the Knee Boots Faux suede Shoes Plus sz , VIC120BL/B-R Womens Victorian Black Red Blood Splatter Zombie Costume Calf Boots , Bottes DORKING Cuir Noir Motifs Zips T 41 BE , Bottes BALLY France Modèle Privilège Cuir Noir T 38 TBENew Women's Skechers 48528 Plus 3 Cheeky Intimidate Fashion Boots Size 7.5 (J27) , Karen Scott Womens Galee Closed Toe Over Knee Fashion Boots , NEW Casual Retro Fashion Boots Womens Mid Calf Buckle Strap Boots White Black , NAOT ankle boots women's size 10 eur 31 brown leather chukkaBlingbling Women Chunky Block Heel Leisure Shoes Pointy Suede Zip Ankle BootsKICKERS Mi Bottes Cuir Noir Doublées Cuir T 36 BE , Patent Leather Women's High heel Stilettos shoes Pointy toe Side zip Ankle boots , Retro Ethnic Womens Pointed Toe Suede Mid-calf Boots Black Casual Shoes New H747Sam Edelman Victoria Suede Black Knee High Heel slip on Boots Size 9M , Stylish Womens faux suede pointy toe stiletto heel cross trap ankle boots Zip Sz , Womens Pointed Toe Patent Leather Buckle Knitting Ankle Boots Riding Shoes I179 , Retro Womens Slouch Rhinestone Mid Claf Boots Hidden Wedge Heel Pull On Shoes Sz , Womens Black Round Toe Platform Rivet Zippers Ankle Boots Stilettos Heel Shoes HNew Casual Womens Round Toes Zip Metalic Ankle Boots Shoes Knight Autumn Fashion , MARC FISHER Womens KACEE Black Leather Tall BOOTS Size US 6.5M (889332625910)Women Fur Trim Ankle Boots Faux Suede Wedding High Heels Stilettos Shoes BootiesWome s Knee High Boots Faux Suede Block Heels Buckle Fur Lined Zip Warm Shoesgorgeous STEVEN black pebble leather pull on wedge gold buckle boots 8Seychelles Womens SNARE Leather Almond Toe Ankle Fashion Boots, Black, Size 7.5Womens Trendy Winter Slouchy Pearls Round Toe Pull On Pumps High Heels Boot Y372 , Womens Roma Suede Block Heel Zip Vogue Shoes Warm Riding Knee High Boots Leisure , New Women Qupid Sochi-16 Mix Media Two Tone Tribal Panel Pointy Toe Riding Boot , Women High Knee Boots Pointed Toe Stiletto Heel Stitching Plus Size Winter Shoes , Women's Shoes Blossom Brand 39 Casual Mid Calf Buckle Boots Nude *New*ANDRE Escarpins à Talons Cuir Bleu Jean lanière Elastiquée T 35 TBE ,
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 WOMENS WEDGE HEEL WINTER HIGH TOP BOOTS LADIES ANKLE ARMY BIKER GIRLS SHOES NEW , NEW! Mossimo Esmeralda Western Cowboy Tall Boots - Brown or Charcoal/Dark Gray , Fahrenheit Red Suede-like Platform Thigh high over the knee Boots size 7.5 , Giani Bernini $179 Brown Nut Leather Tall Boots ALLCOTT Women's 5.5Corso Como Womens Amber Ankle Bootie- Pick SZ/Color. , SHOW STORY {Size 41, US 8} Purple Floral Platform Stiletto Boots EXCELLENT!Isola Womens cali Closed Toe Mid-Calf Fashion Boots, Taupe Grey, Size 8.0 RMOW , ELLEGANT DRESSY /PLUM COLOR ANKLE BOOTS BY Dries Van NotenGuiseppe Zanotti 'Donna 90' Pink Suede Ankle Heeled Booties w/ Fur/Shoes 38.5 , BCBG Brown Suede Lunarx Women's Boots ~ Platform Heel~ US Size 8.5 ~ NEW , NEW CLARKS WOMEN'S PROMISE KATY ANKLE BOOTIE PUMP BROWN LEATHER 10 MED $100 NIB , LifeStride Women's Isabelle Loafer Flat Black 9 W USEnzo Angiolini Womens Franses Leather Open Toe Ankle Fashion, Black, Size 11.0 qMunro Pia Mary Janes-Women's size 9.5M BlackAnne Klein AK Sport Women's Youcan Fabric - Choose SZ/ColorECCO Women's Bluma Slip On Flat Black/Black 39 EU/8-8.5 M US , Supersoft Shoes by Diana Ferrari leather stretch slip on - Huette , NIB Melissa Royale + Alice in Wonderland Disney Flats Ballerina Shoe US 9 , Stuart Weitzman Giveable Cream (“Pan”) & Black Ballet Flats Sz 7 , Donald Pliner Women's Nuru Black Silver Mesh and Leather Slip-on FlatNIB Tory Burch Lowell 2 Leather Ballet Flats Black 8ASICS Womens Gel-Cumulus 18 IndigoBlue/Silver/PinkGlow Running Shoes Size 6.5Nike Womens - Black Running Shoes Size 9 (424143)EUC Brooks Pure Flow Pureflow Women's Size US 6 Running Shoes Black/Blue ASkechers Women's Prima - Star and Lightning Sneaker, , CONVERSE Women Sneakers (6M Men/8M Women, WHITE)Nike Zoom Rival S Women’s Running Track Field Spikes 806558 100 White Size 8.5 , Women's MERRELL WOMENS SNEAKERS..Size 7 Athletic ShoesChic Women's Wing Tip Carved Block Heels Shoes Brogues Bootie Ankle Boots Pumps , Gabriella Michel Taupe Embroidered Rose High Top Sneaker ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Clarks Womens Black Suede Kendra Mix Mix Kendra New Heels Ankle Booties Shoes Ret $99 New 2f42c80 Boots
Powered by VIP.