The Buzz
All markets and investing news all the time

NEW Womens VANS Atwood Canvas Low Grey Atwood VANS White Canvas Sneakers Shoes e44361d

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: Vans
Heel Height: Low (3/4 in. to 1 1/2 in.) Style: Fashion Sneakers
Color: Grey Width: Medium (B, M)
Country/Region of Manufacture: Vietnam Material: Canvas
Fastening: Lace Up

NEW Womens VANS Atwood Canvas Low Grey Atwood VANS White Canvas Sneakers Shoes e44361d -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
NEW Womens VANS Atwood Canvas Low Grey Atwood VANS White Canvas Sneakers Shoes e44361d
NEW Womens VANS Atwood Canvas Low Grey Atwood VANS White Canvas Sneakers Shoes e44361d -

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%.

NEW Womens VANS Atwood Canvas Low Grey Atwood VANS White Canvas Sneakers Shoes e44361d

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
NEW Womens VANS Atwood Canvas Low Grey Atwood VANS White Canvas Sneakers Shoes e44361d -
About This Author
NEW Womens VANS Atwood Canvas Low Grey Atwood VANS White Canvas Sneakers Shoes e44361d -
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
Vans New Sk8 Hi Slim Cutout Perf Green Suede Leather Tarmac White Shoe Women's 6 , Brooks Adrenaline GTS 16 Bluebird Silver Womens 9 Extra Wide Running ShoesWomens Vogue Platform Hollow Out Mesh S5 Sneaker Sandals Wedge Heels Sport Shoestrainer lightweight black leather Cole Haan oxford Femme Misha Grand Sport sz 9 , New Balance Women's 420 70s Running Shoes White with Off White , Brooks Ghost 9 Running Shoes - Women's Size 12, Grey/LavenderNew Vans Sk8 Hi Slim Suede Leather Canvas Green Grape Leaf White Shoe Women's 5Womens Converse Chuck Taylor All Star Shoreline Slip On 556690F Multiple SizesRoyal Elastics Icon Alpha 1710 White Leather Women Shoes Sneakers 92074-003 , Women's PUMA Suede Classic 355462 49 Sneaker Natural Vacheta Size us 8 NWOB , Gothic Womens High Heels Wedge Creeper Leather Sneakers Shoes Sneakers BlackNew Womens Girls Casual Low Top Canvas Skater Shoes Plimsolls Running Sneakers , New New Balance Womens White Running Shoes Size 10.5 , Women's Wedge High Hidden Heel Rhinestone Pointed Toe Fashion Sneakers Shoes A30Reebok Hayasu Women Studio Fitness Shoes Chalk/Sandstone/Melon BS9480 MM1 Sz 9.5Saucony Womens Grey Teal Running Shoes Size 8 (16627)Asics Gel Frantic 7 Women’s Running Shoes Size 10 - EUC! - Free ShippingBrooks Womens Launch 5 Grey/Ebony/White Running Shoes Size 7.5 (28342) , Easy Spirit Romy Walking Shoe - Women's Size 6M, Black , New Balance 577 Sneakers-Women's size 7.5 B BlackASICS GT‑2000 V4 ‑ Womens Running Shoes - Black/Green - Size 7 , On Cloud Womens Cloudflyer Purple Running Shoes Size 10 (365710)Vans Chukka Moc DX Suede Bison Blanc de Blanc Women's Size: 7New Balance WW1300GR Womens Waterproof Trail Walking Shoes Sz 8 Blue/Black/GreenNew Balance Women's 490v6 Shoes Grey , 2018 Women running shoes light cool sneakers outdoor fashion casual shoesWomen's NEW BALANCE Flash V1 Running Shoes NEW Size 6.5 MNEW! Nike 831217-004 Womens Flex Trainer 6 Dark & Light Gray 417O aaBrooks Ghost 6 Women's Size 11 B Shoes Sneakers Running Gray Blue Red Pink
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 KS35 Deliee Wide-Calf Riding Boots, Black, 6.5 US DisplaySpite Womens Spektor Beige Faux Suede Ankle Boots Heels 7 Medium (B,M) BHFO 6821 , Isaac Mizrahi Black Leather Strap Detail Laura Ankle Boot Bootie 8 SALE , Bare Traps Nikita Brown Foldover Faux Fur Cuff Moto Ankle Boots 11 NEW , Stylish Suede Leather Mid Boots - Women Winter Footwear in Dark Chocolate Brn 7 , Jessica Simpson Womens Rallie Suede Closed Toe Knee High Dakota Tan Size 5.0 GBrinley Co Women's Exit Ankle Boot Black Size 7.0 6aGM , Womens Black Suede Soda Ankle Boots, sz 9PINK & WHITE POLKA DOT UNBRANDED RAIN ANKLE BOOTS, SIZE 7Sakroots Womens 8 Rhythm Tall Rain Boots Soft Lined Adjustable Buckle Floral , Blowfish Women's Sill Ankle Bootie Black Lonestar/Dyecut PU 6 M USRebel by ZIGI Nanon Ankle Boots, Wine VelvetSTEVEN by Steve Madden Sady Riding Boots 536, Black, 6 USAerosoles Size 12 M Black Leather Comfort Wedge Ankle Boots Bootie Allowance New , Womens Sweet Bowknot Fur Furry Snow Boots Pumps Heels Mid Calf Boot Plus SizeNEW Louise Et Cie Andora Women's Black Leather High Boot Shoes US Size 6 MKenneth Cole New York Rima Bootie - Women's Size 6.5 M, Asphalt , Antelope 352 Ankle Booties Tobacco Women's Boots 352-Tobacco , YK Branded Western Shoes Womens Alpha Mare Take Me Away Ivory 110V , MIU MIU Satin Knot Bow Ballet Flat size 39.5 US 9 9.5 , NIB Vince Maxwell Italian Satin Ballet Flat Navy Size 5.5, 6, 8 $225 , ECCO Women's Women's Devine Moc Penny LoaferBallerines Basket Femme Toile esprit Bateau semelle antidérapante Pierre-cedric , Cole Haan Womens D43787 Closed Toe Loafers Optic White/Clear Size 6.0Skechers Women's Synergy 2.0 Fashion Sneaker - Choose SZ/ColorSaucony Women's Prowess Sneaker - Choose SZ/Color , Asolo Top 3 Antibacterial Arch Support Suede Hiking Trail Oxford Women's 4.5 , Steven Natural Comfort Womens Napa Leather Sneaker - Silver US Size 7 NWOB , Barefoot Freedom By Drew Leather Geneva Shoes $170 Women Size 8 Wide Orthopedic , Brooks Adrenaline GTS 18 Warren Buffett Edition Purple Women Running 120268 1B ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
NEW Womens VANS Atwood Canvas Low Grey Atwood VANS White Canvas Sneakers Shoes e44361d Athletic Shoes
Powered by VIP.