The Buzz
All markets and investing news all the time

Versace 19.69 B1670 B1670 19.69 VELOUR TDM COCCO TDM Brogue Women's Brogue Brown US 0ba1cda

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: Versace 19.69 Abbigliamento Sportivo
Season: Autumn/Winter Country/Region of Manufacture: Italy
Size Type: Regular Gender: Women's
Sole: 100% RUBBER Hell Height: 3 cm
Style: Brogue shoe Material: 60% suede leather + 40% Calfskin
Type: Brogue Model: B1670 VELOUR TDM COCCO TDM
Theme: See description

Versace 19.69 B1670 B1670 19.69 VELOUR TDM COCCO TDM Brogue Women's Brogue Brown US 0ba1cda -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Versace 19.69 B1670 B1670 19.69 VELOUR TDM COCCO TDM Brogue Women's Brogue Brown US 0ba1cda
Versace 19.69 B1670 B1670 19.69 VELOUR TDM COCCO TDM Brogue Women's Brogue Brown US 0ba1cda -

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%.

Versace 19.69 B1670 B1670 19.69 VELOUR TDM COCCO TDM Brogue Women's Brogue Brown US 0ba1cda

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Versace 19.69 B1670 B1670 19.69 VELOUR TDM COCCO TDM Brogue Women's Brogue Brown US 0ba1cda -
About This Author
Versace 19.69 B1670 B1670 19.69 VELOUR TDM COCCO TDM Brogue Women's Brogue Brown US 0ba1cda -
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
Manolo Blahnik Womens Shoes Size 36.5 6.5 Black Suede Leather Ballet FlatsClarks Trigenic Wine Aubergine Women’s 7.0 Purple Wine Snake Print Derby OxfordAG733 CALPIERRE shoes blue suede women ballet flatsTory Burch Chelsea Womens Shoes Size 9 Brown Textured Metallic Ballet FlatsDonald J Pliner Skyla Black Quilted Nappa Leather Women's Loafer Flats Size 7 M , new $335 ATTILIO GIUSTI LEOMBRUNI black suede LOAFERS flat shoes - super soft , Acton Prolady A9233-11 black safety new with tags $270.00 size 7 new box , New Women's Shoe Donald J Pliner Lianna 22 Taupe Snake Print Size 6 7.5 198.00 , new Sofft gray LEATHER SHOES Flower accent WOMAN US 9 NEW RARE nice , Womens Shoes Isaac Mizrahi BENTLEY Peeptoe Flats Nappa Leather Black White Bow , Ladies Vagabond Amina Patent Formal Fashion Sassy Chic Business Shoes All Sizes , Jslides - Sapphire Platform Sneaker - Pewter - 9FitFlop Womens Superballerina With Flowers Ballet Flat Shoes, Silver, US 10 , New Scholl Orthaheel Murano Womens Comfortable Supportive Mary Jane ShoesMelissa Ultragirl Minnie III Disney Collab Flats Women in Black US 8 9 10NEW $260 FABIO RUSCONI BLACK/BROWN FLAT SHOES SIZE 36.5Tommy Bahama Size 8 Dark Gray Leather Loafers New Womens Shoes , New Women’s Sesto Meucci Brown Suede Open Toe Loafer Square Cut Out Shoes Sz 10AE417 EMPORIO ARMANI shoes gray black textile patent leather women ballet flats , LADIES SHOES/FOOTWEAR -Naot Agile pine green scuffSam Edelman Felicia Women’s Royal Blue Silk Ballet Flat Size 10.5 MGEOX Charlene ballets sale synt.lea navyArcopedico Vegas Green Leather Flats Mary Jane, Size (US 9.5 to 10)FRYE Womens Melanie Closed Toe Slide Flats Gold Size 9.5 699DDR MARTENS 3989 AZTEC WINGTIP BLACK GREASY BROGUE OXFORDS NOS NWOBWomens Fly London Yupi Wedge Heel Leather Cut Out Buckle Summer Shoes US 5-12Womens Fly London Yail Bridle Open Toe Leather Summer Holiday Sandal ShoeDonald J Pliner Womens hazel Closed Toe Loafers , Tory Burch Reva Black Leather Ballet Flats With Gold LOGO sz 4
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 Womens Nylon Muck Rain Waterproof Thermal Faux Fur Quilted Mid Calf Boot , Krush Women's Faux Suede Knee High Boots Black HM7 Size /US8 , BLACK Gold Silver SINGLE SOLE BOOTIES Peep Toe FAUX LEATHER Stilleto High Heels , Steve Madden Troopa Womens Brown Leather Combat Boots Size 7 M , Bass Womans Boots Size 7 Natalie Brown Brogue Belted Ankle Booties , Bottines Boots E-YOU Daim Noir T 39 TBE , Steve Madden Army Green Platform Wedge Leather Suede Shoes Boots Holiday 10 , Earth Kristy Black Leather Open-Toe Open-Back Bootie 7.5 Wide , Daniella Lehavi Women's Designer Fashion Boots TW4 Black Size EU:37 US:7BOBS from Skechers Womens Luxe Bobs-Fleetwood Flat- Pick SZ/Color.XOXO Nicki Platform Fashion Heel Boots, Black, 7 US / 38 EU , Gentle Souls Womens Imex Crinkled Patent Slip On Loafer Mule Shoe , Anne Klein Women's Alphia Fabric Ballet Flat, - Choose SZ/ColorNEW Earth Beetlebug Women 9.5M 41 Loafer Shoes Leather Cap Toe Slipon Flat BrownSaint Laurent YSL Paris 10 Small Hearts Leather Ballerina Flats 39.5 , NIB Christian Louboutin Spike Studded Floral Canvas Espadrilles size 35SO CUTE! Women's $450 Stubbs and Wootton Canvas "FLORAL" Slippers Loafers ShoesNIB Charlotte Olympia Pink Suede Embroidered Kitty Flats size 35.5 / 5.5BIRKENSTOCK SHOES IONA-L NUT BROWN LEATHER WOMAN WOMEN'S IONA-W MARY JANESWomens Magenta Pink ECCO BIOM Motion Athletic Sneakers Shoes Sz 40 US 9/9.5Women's K-SWISS® KEAHOU™ II Size 6.5 - NEW Sneaker , Skechers 11639 Sport Womens Gutsy Fashion Sneaker- Choose SZ/Color.P. W. MINOR WOMEN'S PLEASURE STRAP LEATHER WALKING SHOES CLAY 5 W , PaperPlanes Athletic Sneakers Air Running Leather Shoes Womens PP1101 NVRDGRASICS Womens - Silver Running Shoes Size 7 (415162) , Saucony Womens Kineta8 Everun Running Fitness Shoes Sneakers Sz 11 i312 , Women's Franco Sarto Women's Brewer Flat Flats , Women's Earthies 9 Black Slip On Flats , Walking Cradles Women's Caden Black Leather 9.5 M US , SAS Womens Free Time Oxford Shoes Sz 6.5 M White Leather Rocker Comfort USA Made
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Versace 19.69 B1670 B1670 19.69 VELOUR TDM COCCO TDM Brogue Women's Brogue Brown US 0ba1cda Flats
Powered by VIP.