The Buzz
All markets and investing news all the time

Genuine Leather Womens Bee Genuine Leather Embroidery 27780 Slippers Loafers Mules Shoes New ef16f09

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: Unbranded
Material: Leather Style: Slides
Occasion: Casual Country/Region of Manufacture: China
Pattern: Solid Heel Height: Flat (0 to 1/2 in.)
Width: Medium (B, M)

Genuine Leather Womens Bee Genuine Leather Embroidery 27780 Slippers Loafers Mules Shoes New ef16f09 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Genuine Leather Womens Bee Genuine Leather Embroidery 27780 Slippers Loafers Mules Shoes New ef16f09
Genuine Leather Womens Bee Genuine Leather Embroidery 27780 Slippers Loafers Mules Shoes New ef16f09 -

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%.

Genuine Leather Womens Bee Genuine Leather Embroidery 27780 Slippers Loafers Mules Shoes New ef16f09

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Genuine Leather Womens Bee Genuine Leather Embroidery 27780 Slippers Loafers Mules Shoes New ef16f09 -
About This Author
Genuine Leather Womens Bee Genuine Leather Embroidery 27780 Slippers Loafers Mules Shoes New ef16f09 -
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 Leather Bowknot Platform Slip On Loafers Creepers Comfy Walking Flat shoesWomens Metal Buckle Cross Stappy Flat Punk Round Toe Leather Ballet Dance ShoesWomens British Pearls Metal Chain Slip on Flats Loafers Round Toe Leather Shoes , Womens Metal Chain Leather Mules Slip On Round Toe Flats Loafer Slippers Shoes , Easy Spirit Women's Tan Leather Slip On Loafers Shoes Sz 6.5MFashion Womens Flat Heel Shoes Loafers Wearproof Oxfords Pull On Round Toe SizesLeisure Womens Slip On Leather Pointy Toes Loafers Moccasins Chunky Heels Shoes , Chic Womens Pointy Toes Low Chunky Heels Suede Mixed Color Slip On Mules Shoes , Women's Sweet Flat Leather Stars Slip ON Casual Stylish Round Toe Shoes Chic Y56 , Summer Womens Rhinestones Flip Flops Mules Slip On Flats Suede Slippers ShoesWomens Real Leather Slip on Loafers Flats Pointy toe Chic Mules Slippers Shoes # , Womens Autumn Winter Warm Fur Trim Pointy Toe Flats Slippers Slide Loafers Shoes , Josef Seibel Carree 04 Oxford Comfy Airped Plus Platform 41 US 10-10.5 RARE NEW , Classic Women Rivet Squart Toe Low Block Heel Slip on Pumps Oxford Loafer Shoes , Women's Stylish Colorful Wedge Med Heel Flat Round Toe Occident Suede Shoes H412 , *MONIKA CHIANG Studded Black Silver Ballet Flats Suede $255 Sz 36 nwbWomens European Loafer Pull on Leather Collegiate Low Heels Pointy Toe ShoesWomens Square Toe Slip On Rex Rabbit Fur Slippers Loafers Flats Shoes Leather sz , Embroidered Rhinestones Women Suede Creepers Loafers Platform Sneakers Shoes NewWomens Retro Leather Flat Heels Round Toe Loafters Causal Spring Shoes Slip On , nwob Longchamp Coral Pink Le Pliage Sneaker 40 Flats Size US 9 (SH700Retro Round Toe Tassel Bowknot Oxfords Casual Loafers Shoes Womens Slip on PumpsWomen's Flats Pointy Toes Leather Mesh Hollow Out Work Slip On Loafers Shoes HotCute womens round toe bowknot platform buckle strap Ballerinas wedge heel shoesTORY BURCH REESE BLACK LEATHER TASSEL Ballet Flat 7.5 (TACO600Womens Sweet Sneaker Pearls Loafers Med Wedge Heels Suede Creepers Comfy ShoesElegant Womens Mesh Pearls Slip On Embroidery Mules Low Chunky Heels SlippersWomens Leather Strappy Flat Heel Round Toe Trendy Backless Mules Slides Shoes , Ethnic Style Womens Fringes Flats Thongs Ankle Sandals Boots Suede Leather shoes
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 New Soho Shoes Women's Laser Cut Casual Ankle Bootie Boots , Isaac Mizrahi life Marissa navy blue booties dark navy in color size 8.5M , Wendy Williams Over The Knee Boot Padded Closed Toe Suede GRAY 8.5M NEW 567-325 , Style by Charles David Women's Edward Fashion Boot, Nude, 9 M USMarc Fisher Womens Humor2 Black Over-The-Knee Boots 6 Medium (B,M) BHFO 4757 , NEW Ladies Purple 5"Stiletto High Heel Pointy Toe Ankle Sexy Boots Size 8.5Black Leather Kelsi Dagger Platform Boots Booties w/Suede Gray Roses Sz 7 $200Clark’s 9.5 Women’s Black Suede Leather Ankle Boots Booties EUCKamik Women's Merlot Snow Boots Black Shoe Size 9 M , Anthropologie Farylrobin Womens Zinc Harness Boots Natural Size 6 New , Naughty Monkey Distress Black Suede Slouch Hidden Wedge Heel OTK Boots. Size 6.5Boot Blowfish Super Duper Whiskey LonestarFly London Alice Aste taupe oil suede rug boots US 7 retail $250 last pairTory Burch Navy Blue Quilted Denim Quinn Ballet Flats , NEW ARRIVAL-FINN COMFORT- black suede sandals Womens 7 US (4 1/2 UK) S-W-26Bernardo Woman Flats Size 8.5 Multicolored Snakeskin Print Leather Buckle Ballet , NICHOLAS KIRKWOOD GOLD BEYA GALAXY LUREX PLATINO (US WOMEN SZ 10)**Jimmy Choo** Black patent leather gamble calf hair leopard pointy flats shoes , NIB AGL Attilio Giusti Leombruni Grommet Berry Suede Leather Ballet Flat 38/US 8 , ARCHE Blush Pink Snakeskin Leather LAIUS Elasticized Ballet Flats US 5 , Marc By Marc Jacobs Broom Skate slip-on sneakers-Sz.37 , Jambu 9 Blossom Encore Sneaker Mary Jane Flat Red Leather Memory Foam All Terra , New VINCE Size 7 DAVY Black Suede Creeper Slip On Sneakers Shoes 37New Cole Haan Dana Slipper Ballet II Flats Purple/Gold Suede Loafer MocAldo Womens TOOGOOD Fashion Sneaker- Pick SZ/Color.NEW DR SCHOLLS WOMENS FITNESS WALKERS SNEAKERSWomen's Tokidoki Black PVC/Wool ankle boot BootsWomen's sam edelman 9 BootsROCK & CANDY Spraypaint Q Ankle Combat Booties Boots Women's Black Sz 6 NEW $70 , Womens DANSKO dark gray clogs sz 41 Nice
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Genuine Leather Womens Bee Genuine Leather Embroidery 27780 Slippers Loafers Mules Shoes New ef16f09 Flats
Powered by VIP.