The Buzz
All markets and investing news all the time

IKRUSH Boots Women's GREY Robyn Suede Platform 8 Boots Size in GREY Size 8 c3e075b

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
US Shoe Size (Women's): 10 Style: Ankle Boots
Size: 8 Color: GREY
UPC: Does not apply EAN: 5054045392724

IKRUSH Boots Women's GREY Robyn Suede Platform 8 Boots Size in GREY Size 8 c3e075b -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
IKRUSH Boots Women's GREY Robyn Suede Platform 8 Boots Size in GREY Size 8 c3e075b
IKRUSH Boots Women's GREY Robyn Suede Platform 8 Boots Size in GREY Size 8 c3e075b -

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%.

IKRUSH Boots Women's GREY Robyn Suede Platform 8 Boots Size in GREY Size 8 c3e075b

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
IKRUSH Boots Women's GREY Robyn Suede Platform 8 Boots Size in GREY Size 8 c3e075b -
About This Author
IKRUSH Boots Women's GREY Robyn Suede Platform 8 Boots Size in GREY Size 8 c3e075b -
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
Jordan David Grips Black Zipper Rain Boots Size 8 Over Shoe Large , WOMEN SHOES TALBOTS BOOTS Size 6.5M BROWN ITALY.Bare Traps Womens danula Almond Toe Ankle Cold Weather Boots, Black, Size 7.5 hf , CARLOS BY CARLOS SANTANA Brie Ankle Boot Crystal Back Size 7 Orig. $129Apt. 9 BLACK BOOTS WOMENS SIZE 8 1/2 M LASS BLACKLucky Women's LK-Ramses Fashion Boot Sable 7.5 Medium USRalph Lauren � Women's Size 8B Above Ankle BootsAerosoles Womens double trouble 2 Closed Toe Ankle Fashion Navy Suede Size 6.0Naturalizer Women’s 9 M Brown Leather Side Zip Block Heel Ankle Fashion Boots , INC International Concepts Womens Chelsea Closed Toe Ankle Chelsea Boots , Qupid Womens morrison 21 Closed Toe Ankle Fashion BootsC LABEL Womens Sid-5 Closed Toe Ankle Fashion Boots, Black, Size 10.0 jHyV , LIFESTRIDE Womens X-MOTO Mid Brown Ankle Booties Size US 7M (C9709S2200)Natural Soul 42 11M Yumen dark brown booties Womens Ladies ankle comfort bootsBottines DORNDORF Cuir Verni Brillant Marron T 39 BE , Lacrosse Black Zipper Rain Boots 7 Medium Over ShoeVery Volatile Womens Joan Leather Pointed Toe Ankle Fashion, Khaki, Size 8.0 nqu , Call It Spring Women's Bigger Ankle Bootie, Black, Size 9.0 , Bare Traps Womens danula Almond Toe Ankle Cold Weather Boots, Black, Size 9.0 Wa , Vasque Womens St Elias GTX Brown Leather Athletic Hiking Outdoor Boots Sz 7.5Carlos by Carlos Santana Womens cayenne Leather Almond Toe Ankle Fashion Boots , P. W. Minor Black Zipper Rain Boot 8 Over ShoeFergalicious Womens tootsie Suede Almond Toe Knee High Fashion Boots , Catherines Size 11 Black Slouch Booties Orig $69 Vegan LeatherReport Womens elina Closed Toe Mid-Calf Fashion Boots, Black, Size 6.0 , Madden Girl Women's Melinda Fashion BootLadies Brown Ankle Boots 6-10 / 37-41 -RRP $119 ** WAREHOUSE CLEARANCE PRICES **Boots LA SCARPA Cuir Marron Elastiquées T 35 TTBE , escarpins fermé vert bout rond 37 COMER
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 FASHION BUG FLEXSOLES SUEDED FABRIC HIGH HEELS BOOTS WOMENS 9 M , Bijou Leopard Animal Print Rubber Rain Boots 7 M New , A35 Venah Side Zip Booties, BlackNew Women's Ankle Boots With Dual Side Zippers Size 7 BlackNEW Kirkland Signature Womens Sheepskin Shearling Zipper Boot PICK SIZE&COLOREl Vaquero Womens Brown Distressed Leather Knee High Western Boots SZ 38/8 ItalyBRAND NEW WOMENS NINE WEST BLACK LEATHER ZIPPER MID CALF BOOTIES SIZE 10 1/2 , **RALPH LAUREN** WOMEN BOOTS SIZE 8.5 M LEATHER BLACKNIB BCBGeneration Dolan Womens Stretch Suede Ankle Bootie Sz 8 M Steel Gray $129NATURALIZER Women Chelsea Boots Size US 10 M Brown Leather , Earthies Clare - Women's Ballet Flat Blush - 8 Medium , Donald J Pliner Deedee Bronze Metallic Tumbled Leather Slip On Loafer Flat 8 , Finn Comfort shoes 7 C US 9.5 black patent leather suede mint oxfordsTrask Bianca Women’s Suede Pointy Toe Flat Size US 9 M , MOT-CLe 7072 Black Leather / Patent / Suede Wedge Loafers Shoes 37 / US 7MARC by Marc Jacobs White Leather Loafers Shoes - Size 40 / 10Vince Camuto Women's Ellen Ballet FlatEasy Spirit Women's Faisal2 Sneaker White Size 11.0 goSa , CLARKS Women's Keesha Donna Mule,Black Suede,11 M USLucky Brand Womens Lk-Giovanna Ballet Flat, BLACK Leather Medium SizeTory Burch Delphine Red Satin Women's Embellished Loafer Sz 7.5M 1334 , Nike Free RN Racer Pink/Off White 831509-602 Women's SZ 7 , Nike Air Max 1 Prm Sherpa Pack Bred Women's 7 Black Red White Shoes Jordan 11 XlAltraThe One 2.0 New Relaxed Running Training Athletic Purple White Womens ShoesNew Women Platform Wedge High Heel Sport Sandal Fashion Sneaker Breathable BootsSkechers Light On The Groove Slip Sneakers , Converse All Star Velvet Hi Women's Eclipse/Black/Turtledove 558993CMinnetonka Women's Moccasins, Brown, Size 9M, US , Womens College Flat Heels Ankle Boots Tassels Fringe Faux Suede Shoes Plus SizeFashion Womens Suede Shoes Pointy Toe Side Zip Chunky Block Heel Ankle Boots
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
IKRUSH Boots Women's GREY Robyn Suede Platform 8 Boots Size in GREY Size 8 c3e075b Boots
Powered by VIP.