The Buzz
All markets and investing news all the time

Sam Closed Edelman Womens Carrin Leather Closed Toe Carrin Espadrille Espadrille Flats a01745f

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: Sam Edelman
Color: Pink Style: Espadrilles
Occasion: Casual Width: Medium (B, M)
Pattern: Solid Material: Leather
Fastening: Slip On

Sam Closed Edelman Womens Carrin Leather Closed Toe Carrin Espadrille Espadrille Flats a01745f -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Sam Closed Edelman Womens Carrin Leather Closed Toe Carrin Espadrille Espadrille Flats a01745f
Sam Closed Edelman Womens Carrin Leather Closed Toe Carrin Espadrille Espadrille Flats a01745f -

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%.

Sam Closed Edelman Womens Carrin Leather Closed Toe Carrin Espadrille Espadrille Flats a01745f

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Sam Closed Edelman Womens Carrin Leather Closed Toe Carrin Espadrille Espadrille Flats a01745f -
About This Author
Sam Closed Edelman Womens Carrin Leather Closed Toe Carrin Espadrille Espadrille Flats a01745f -
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
Not Rated Womens BRIT Fabric Round Toe Ballet Flats, LEOPARD, Size 8.5J. Crew Jayne Leather Ballet Flats Black T Strap Gold Chain Size 8 Italy $198 , Free People Everglades Ballet Flats Shoes by Silent D Gold Size 8 $100Klogs Cardiff Womens Clog Shoes Black Wigwam 7 MAX904 EDDY DANIELE shoes black suede women ballet flatsBallerines Babies CAMPER Cuir Rouge T 36 TTBENurse Mates Womens Faxon, White, Size 8.0NAOT ESSENCE BEIGE SUEDE MARY JANE FLATS SHOES NUBUCK LADIES EURO 36 US 5 - 5.5 , Kork-Ease Women's Maddison Black Mule 10MKelsi Dagger Brooklyn Women's Alton Ballet Flat, Clover, Size 8.0 , Dolce & Gabbana Womens Shoes Size 36.5 Brown Loafers Animal Flats Cowhide , Seychelles Womens Quake Closed Toe Oxfords, White, Size 6.5 JUPB , AHNU TULLIA II WOMEN MARY JANES LEATHER PORTER 10 //Kelsi Dagger Brooklyn Arbor Loafer Black Corduroy Slip On Flat Oxford ShoesHush Puppies Women's Odessa Evaro Slip-on Loafer Tan Leather Size 8.5 , Zara Women Platform Derby With Beading Shoes Size 6.5 NWTNaturalizer Women's Saban Slip-On Loafer Black Size 6.0Sperry Top-Sider Women's Authentic Original Two-Eye Boat Shoe, Sahara, Size 7.0 , VINCE CAMUTO WOMEN’S LILLIANA 4 LOAFERS, PEWTER METALLIC NAPPA , NEW SAS BROWN PATENT CROCO LEATHER MOCCASINS LOAFERS WOMEN SIZE 9 M , NIB Dolce Vita Cobalt Blue Suede Leather Galli Skimmer shoes woman 10 , Sam Edelman Sara Ballet Flat - Silver Metallic / Multi Tweed Sz US 7.5 |BX410 EMANUELLE VEE shoes black blue textile suede women slip on , Made in Italia ANASTASIA_NERO ballerina shoes Women's - colour Black USSam Edelman Size 10 brown Leather Flats New Womens Shoes , Rockport Women's Emalyn Mary Jane Flat, Black, Size 5.0Lanvin Womens Ballet Flats Size 37.5 7.5 Beige Animal Print Slide On in Boxigi&co Patty Vit Vegetale ballets sale 11448 castoro , Cole Haan Women's Pinch Grand Tassel Penny Loafer, Cabernet Suede, Size 8.0
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 MODERN VINTAGE JANET KNEE RIDING BOOTS COGNAC BROWN LEATHER SZ 37.5/ 7.5 B $475 , Women's Kitten Heel Wide Calf Riding, Equestrian Slouch Boots ShoesSALE Ladies Spot On Microfibre PU Stud Black Everyday Ankle Boots F50041 , Ladies Spot On Low Heel Ankle Boot with Rouched Detail , Liz & Co Black Leather Booties Heels Buckle Women's 6.5 Excellent Stylish , Walter Steiger Womens Knee High Boots Size 39.5 Black Nylon High Block Heel , Women's Unleashed Size 8.5M Gray Buckle Monk Strap Casual Ankle Winter Boots-353Women's Durango RD542 Cowboy Boots sz. 8.5 M BrownROCK & CANDY Womens Spraypaint Q Fabric Closed Toe Ankle, TCHFX, Size 6.0 xYqoWomens Tassel Faux Suede Fashion Chunky Block Heels Ankle Boots Winter Shoes Zip , Jellypop Women's China Chelsea Boot, Blue/Multi Brocade, 8.5 M US , West Blvd Rainboots Rain-Boots Clear Black PVC 11 , Wolverine Women's Pearl Ankle Buckle Boots Tan 11 M , Calvin Klein Priya Over the Knee Boots 638, Black, 7 US / 37 EUDolce Vita Womens Brown Ankle Boots 8.5 , Roper Womens 601 Performance Slip-On- Pick SZ/Color. , Via Spiga Womens Giada Closed Toe Loafers, Black, Size 5.0 , Charlotte Olympia 'ABC' Sticker Flats Black Leather 40.5 US Smoking Loafer , DIADORA US 7M TAUPE NUBUCK & DARK BROWN SMOOTH LEATHER WALKING SHOECole Haan Women's Piper Mule, Pink Glitter, 7.5 B USEMU Australia Womens Sheepskin Stinger Hi Boots - Indigo - 10Sam Edelman Women's Loraine Loafer Sand Size 10.5 , SANUK SWF10648 BTRB WOMEN'S MIRAGE BLACK WHITE TRIBAL SLIP ON SHOES NEW WITHOUT , Skechers Women's GOwalk Lite Heavenly Slip-On Walking Shoe , MERRELL J52410 WOMEN'S SIREN SPORT 2 BRINDLE HIKING TRAIL SHOES 7.5 M WORN ONCEWomen's NEW ANTIDOTI WOMENS MULES FlatsWomen's Khombu Melanie Women's Boots Grey/Tan BootsWomens New Glitter Paillette Round Toe Block Mid Heels Ankle Boots Shoes SizeNot Rated Womens Witty Giddy Tan Knee-High Boots 8.5 Medium (B,M) BHFO 5007DANSKO Marisol Leather Clogs, 37 US Size 7 $140 Retail
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Sam Closed Edelman Womens Carrin Leather Closed Toe Carrin Espadrille Espadrille Flats a01745f Flats
Powered by VIP.