The Buzz
All markets and investing news all the time

Womens Sandals Beige Leather Mules Flats Flats Slides 27782 Sandals Slip Ons Shoes Flip Flops Mule 47d1315

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
Material: Leather
Fastening: Slip On Colour: Beige
Brand: Unbranded Style: Slides
UPC: Does not apply

Womens Sandals Beige Leather Mules Flats Flats Slides 27782 Sandals Slip Ons Shoes Flip Flops Mule 47d1315 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Womens Sandals Beige Leather Mules Flats Flats Slides 27782 Sandals Slip Ons Shoes Flip Flops Mule 47d1315
Womens Sandals Beige Leather Mules Flats Flats Slides 27782 Sandals Slip Ons Shoes Flip Flops Mule 47d1315 -

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%.

Womens Sandals Beige Leather Mules Flats Flats Slides 27782 Sandals Slip Ons Shoes Flip Flops Mule 47d1315

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Womens Sandals Beige Leather Mules Flats Flats Slides 27782 Sandals Slip Ons Shoes Flip Flops Mule 47d1315 -
About This Author
Womens Sandals Beige Leather Mules Flats Flats Slides 27782 Sandals Slip Ons Shoes Flip Flops Mule 47d1315 -
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
Bloch Fonteyn ballet flat, NIB. RRP $180SPERRY Top Sider Womens Bliss Zebra Pony Slip On Shoes Size US 9 M NWB , Jimmy Choo Black Leather Flats size 39 $595 purchased NordstromLanvin Burgundy Embossed Leather Loafers Shoes Size 37.5 US 7 , Clarks Kinzie Light Black Suede 26128987 Wide Women's Shoes , New Vivienne Westwood Melissa Flower Shoes, Sold Out Everywhere. Size 7 Euro 38Womens Studded Leather Mules Flats Slides Sandals Slip Ons Shoes Flip Flops MuleRos Hammerson Carrie Cross Strap Nubuck Leather Flats Taupe Women's size 9 MIVANKA TRUMP Womens KENNI2 Dark Blue Fabric Smoking Flats US 10M (887897010769)WDM0099 Twisted X Women’s Driving Moccasins – Dust/Multi Serape Boat Shoe NEWNew $110 Anniel Ballet Derby Shoes 8US/38EU , Cole Haan Shoes Size 8.5 M Womens New Air Morgan White Gold Metallic Flats NWB , Tommy Hilfiger AW ANDEENA Navy Blue Multi Fabric Women's Sneakers -$0 Free ShipRUBIANA TAN BOA LMSP70 Women's Shoes Size 7 M Eur 4.5 Suede Slip On MephistoJ.CREW FELTED WOOL PENNY LOAFERS 8M GREY BLACK , Sperry Top-Sider ~ Gold Cup Collection Women's A/O Boat Shoe $160 NIB , New FLEXATION BY AEROSOLES Women Leather Black Flat Loafer Shoe Sz 7.5 M , Cole Haan Grand.OS Size 6 Blue Drivers Loafers New Womens ShoesWomens sz 9 W Wide stuart weitzman bone leather ballerina ballet flat shoes pump , Ladies Clarks Bow Detail Rounded Toe Flat Slip On Leather Dolly Shoes Grace LilyNew Naturalizer Jetty Womens Comfort Wide Fit Leather Zip Entry Shoes , Sam Edelman Womens Carrin Leather Closed Toe Espadrille, Bright Multi, Size 5.5new Sperry Top-Sider Audrey Zebra Pony hair black white boat womens shoes NIB , Cole Haan Womens W03145 Closed Toe Loafers, Sunray/Caviar, Size 6.0 , Gabor Ladies Shoes with a wedge heel 42.642.64Alegria Women's Size 11 Eur 42 Western Romance Professional Shoe Slip On FloralNEW Earth Tanglewood Women 10 42 Mary Jane Shoes Black Leather Closed Back FlatWonders 3071 Sauvag Baltic ballets saleCROCS STRETCH SOLE SKIMMER FLAT BUSY DAY LOAFER SLIP ON SHOE~Black Blue~W 7~NWT
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 Justin Brown Leather Cowboy Boots Womens Size 7.5 B L4605 , Rampage Womens obie Closed Toe Ankle Fashion Boots Black Distressed Size 6.0 , Nine West Brunero Women's Brown Suede Pull On Knee High Boots US Size 6.5 MGreat Condition Steampunk Goth Boots By Naughty Monkey Size 8 , Predictions Ankle Boots - Megan - Black - 8 1/2Womens Shiny Block Heel Fashion Chic Elegant Sassy Mid Heel Ankle BootsWomen's Cato Green Suede Booties Size-11 Wide NIBSporto Pixie Black Suede Faux Fur Lined Thermolite Boots. Size 8 WShellys London Womens Antlova Round Toe Knee High Fashion Boots, Tan, Size 6.0 W , Women's Mootsies Tootsies Tall Boots - Utopia - Black - New in Box! , Dansko Bonita Black Leather Ankle Boot Booties Zipper Women’s SZ 6.5-7 MPajar Snow Boots Hi Canada Grip Waterproof Size 6 To 6.5 PurpleSteve Madden Womens DICEY Leather Closed Toe Ankle Black Leather Size 5.5 VXC7 , Merrell Tremblant Pull On Polar Waterproof Boot - Women's Size 7.5, Black , Bamboo Suede Side Elastic Gore Chelsea Booties , LUCKY BRAND Elko Macrame Crochet Blue Slip On Ballet Flats Shoes US 9 M NWB , Tory Burch Claire Women's Leather Black Ballet Flats Size 9Cole Haan Women's Zerogrand Stagdr Bal Ballet Flat, Bronze Dot Print 8.5 B US , NEW FLEX & GO SADIE WOMENS LEATHER FLAT MARY JANE SHOES MADE IN PORTUGAL , Nine West Suziella Floral Ballet Flats, Light Blue Denim, 9 USNEW ZADIG & VOLTAIRE WOMENS MONSIEUR LOAFERSGivenchy NIB Beige Pink Black Leather Leopard Print Ballerina Flats SZ 35.5NIB TORY BURCH BLACK SNAKE PRINT LEATHER GOLD REVA YORK BALLET FLATS 8.5 , Birkenstock Women's Kleifar Oxford Black Style 1010775,Palladium Women's Aventure CVS High Top Sneaker Rainy Day/Marshmallow Canvas , adidas Women's Alphabounce 1 Parley w Running Shoe - Choose SZ/ColorNEW HUNTER WOMENS WOMEN'S ORIGINAL FLORAL STRIPE PLIMSOLLS: FLORAL STRIPE/PEONY , Salomon XA Pro 3D CS WP Women's Shadow/Black/Artic Trail-Running Shoe 6.5M , Pearl Izumi Womens Road N2 Dazzling Blue/Black Running Shoes Size 7.5 (3375) , Chunky Women's Shoes Bowknot Sweet Mid-Heel Ankle Boots Winter Large Size Ske15
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Womens Sandals Beige Leather Mules Flats Flats Slides 27782 Sandals Slip Ons Shoes Flip Flops Mule 47d1315 Flats
Powered by VIP.