The Buzz
All markets and investing news all the time

Old Size Friend 27800 Women's 441165 Moccasin Loafer Moccasin Chestnut Size 11.0 2809c72

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: Old Friend
Color: Brown Style: Slides
Pattern: Solid Width: Medium (B, M)
US Shoe Size (Women's): 11 UPC: 035124011113

Old Size Friend 27800 Women's 441165 Moccasin Loafer Moccasin Chestnut Size 11.0 2809c72 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Old Size Friend 27800 Women's 441165 Moccasin Loafer Moccasin Chestnut Size 11.0 2809c72
Old Size Friend 27800 Women's 441165 Moccasin Loafer Moccasin Chestnut Size 11.0 2809c72 -

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%.

Old Size Friend 27800 Women's 441165 Moccasin Loafer Moccasin Chestnut Size 11.0 2809c72

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Old Size Friend 27800 Women's 441165 Moccasin Loafer Moccasin Chestnut Size 11.0 2809c72 -
About This Author
Old Size Friend 27800 Women's 441165 Moccasin Loafer Moccasin Chestnut Size 11.0 2809c72 -
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
Tory Burch Gold Metallic Perforated Perforated Slip-OnsBetsey Johnson Womens Anna Closed Toe Slide Flats , Ramon Tenza Womens taylor Canvas Almond Toe Oxfords Hot Multi Size 6.0Aerosoles Women's High Bet Ballet Flat Purple Snake Size 7.5NINE WEST BLUE JEAN DENIM POINTED TOE SEXY STRAPPY LADIES BALLET FLATS SHOES~8Roberto Cavalli Just Cavalli BLK GRN Patent leather Platform Pumps 39 NWOB $975 , New Skechers Bikers Skims Womens Relaxed Fit Memory Foam ShoesNine West Womens morton Closed Toe Mules Navy Size 8.0 , Franco Sarto Women's Roland Ballet Flat Ballet Flat Camel Size 6.5 , Easy Spirit Womens Gessica Closed Toe Slide Flats Grey Size 8.0STUART WEITZMAN brown suede casual shoes US 6-6.5Donald J Pliner Beige Flat Slides - 7.5M , Free People Womens Brady Pointed Toe Loafers , Dansko Patent Leather Pro Clogs, Wm's 7.5 - 8 / 38Newbark Los Angeles shoes loafers MELANIE leather black white NEW 8.5 $595 , Walking Cradles Women's Teri Flat, Black Leather, Size 6.0Womens Fly London Thea Bridle Open Toe Wedge Heel Summer Holiday SandalsCrown Vintage Womens Miaa Almond Toe Loafers, Silver, Size 7.5 vrxi , Aerosoles Womens Fast Bet Leather Closed Toe Ballet Flats Black Combo Size 7.0 , JCrew Evie Ballet Flats in Mirrored Silver Sz 7.5 Metallic Silver H5488 AVL , Walking Cradles Womens Jane Closed Toe Ankle Strap Mary Jane Black Size 6.5JCrew Evie Ballet Flats in Mirrored Silver Sz 7 Metallic Silver H5488 AVL , Mephisto Loafers Boat Driver White Leather 10.5 US WomenNine West Womens Giovedi Leather Closed Toe Ballet Flats , Trotters Womens sarina Closed Toe Ankle Strap Slingback Flats Black Size 8.0 r , SAS Roamer Loafers Gray Leather Straps Women 10.5 W Comfort , Kenneth Cole New York Vero Cuoio Women's Size 6 M Brown Suede Flat ShoesHush Puppies Women's Michele Madrine Flat, Grey Shimmer, Size 9.0Dansko Womens Lisanne Ballet Flat Black Size 6.0 Yzrg ,
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 Clicks Brown Leather Cowboy Western Boots Womens Size 7 BBorn Brown Leather Side Zip Buckle Tall Heel Boots Women's Size 8Enzo Angiolini Saylem Women's Brown Leather Slanted Roper Knee High Boots Sz 6.5VTG WOMENS JUSTIN WESTERN ROPER LEATHER GREEN BOOTS SIZE 6.5 BSexy Women Shoes Flat Heel Solid Color Long Pointed Toe Knee High Boots SSMarco Tozzi Ladies Ankle Boots Ankle Boot Boots Black NEW , J Crew Brown Leather High Heel Side Zip Ankle Boots Booties Size 8.5 , Vince Camuto Coatia Over The Knee OTK Black Suede Boots 6.5DOC DR. MARTENS Vintage 90's maroon red Unisex Boots Made in England , Kelsi Dagger Kellum White Leather Clog Stacked Heel MuleOpen Back Western BootieJ. Adams Bree Ankle Boot - Western Fringe Cowboy Low Heel BootiePlus size Leather Winter Square High Heel Side Zipper Knee High Boots Fashion , Minnetonka Womens calf hi 3 layer fringe Closed Toe Dusty Brown Size 6.0 , Womens TOD'S TODS Black Suede Mukluks Rabbit Fur Ankle Winter Boots Sz 38NIB Bogs Women Plimsoll Houndstooth Tall Waterproof Winter Snow Boot GREEN Sz 7M , Django & Juliette ALFRONT Black Pewter Leather Sandal , NWT Women’s Vince Maxwell Fawn Satin Size 8.5 Retail $225Durango Music City Women's Turquoise Western Boat MocNWOB Tory Burch Blue/White & Tassle Flats Slipon Sandals Shoes Size 6.5B-BeautifNew Clarks Women's Christine Club Black Leather Ankle Boots 7.5 M , NIB AUTHENTIC YSL YVES SAINT LAURENT SAHARIENNE VULCANO Ballet Flats Shoes 39 , NIB $595 Jimmy Choo Lucy Suede Ankle Strap Flats Moss Green - size 7.5/37.5Sam Edelman Women's Jordy Loafer - Choose SZ/ColorVia Spiga Women's V-Eliza Oxford Milk Leather Size 6.0Women's Suede Hidden Heel Shoes Leopard Wedge Sneakers Sports High Top Party SZWomens Real Leather Real Fur Lining Slip On Flat Casual Loafers Shoes mules NewAsh Shoes 478134 Black 37 , Asics GT 2000 Running Shoes Women Size 9 , NEW JustFab Women's Size 8.5 Harper Bootie With Strappy Cutout Upper Cognac , Reebok Women's Fury Adapt Graceful TMI Fashion Sneaker ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Old Size Friend 27800 Women's 441165 Moccasin Loafer Moccasin Chestnut Size 11.0 2809c72 Flats
Powered by VIP.