The Buzz
All markets and investing news all the time

Drew Size Tulip in Comfort Shoe in White- 8 Size 8 aa2419e

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
Color: White
Brand: Drew Width: Medium (B, M)
Style: Comfort

Drew Size Tulip in Comfort Shoe in White- 8 Size 8 aa2419e -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Drew Size Tulip in Comfort Shoe in White- 8 Size 8 aa2419e
Drew Size Tulip in Comfort Shoe in White- 8 Size 8 aa2419e -

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%.

Drew Size Tulip in Comfort Shoe in White- 8 Size 8 aa2419e

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Drew Size Tulip in Comfort Shoe in White- 8 Size 8 aa2419e -
About This Author
Drew Size Tulip in Comfort Shoe in White- 8 Size 8 aa2419e -
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
Steel Toe Work Boots Black Boots Size 7 1/2 Womens BrahmaDansko Lightly Worn, Beige Canvas Mary Jane Style Clog, Euro Size 36TREDSAFE Black Textile Slip On Loafers Work Shoes Women's Sz. 10 , Mens Work Safety Occupational Steel Toe Anti Puncture Boots Shoes High Top Hkm15Dansko Calista dark green dual two strap comfort shoes women US 7.5 , BIRKENSTOCK BIRKI'S SIZE LADIES 8 GREENS POLYURETHANE WOMEN'S IN PERFECT COND , ROCKY Women's Shoes Mules Size 10MW Brown Leather Country Western Slip On 4252 , Women's Hospital Nurse Work Wedge Shoes Flats Breathable Occupational White Hot , Women's shoes, casual shoes and casual shoes. , ORTHOFEET Sarasota Beach Women's Comfort Shoes Diabetic Leather Black Size 6.5 B , BOC Peggy Clogs Gray Round Toe Patent Leather Slip Ons Comfort Soles Size 6.5MHR Flexibles Womens Shoes Size 10 Leather Braided Toe Slip OnSpring Step Professionals Belo Slip-On Shoes - Women's Size 9.5 BlueARRAY Womens superior Leather Closed Toe Loafers, Black, Size 11.0 Q9saDansko Pro Black Patent Leather Professional Clogs Women's 36 / 5.5-6 US , Womens Beads Tassles Rhinestones Bling Casual Sneakers Occupational Flat Shoes , GH Bass Womens Brown Size 8 M Reeva Leather Slip On Apron Loafers Shoes , Women's HAFLINGER Black Tweed Clog Shoes Size 6.5 US, 36 Eur NWT , Dansko Suede Brown Slip On Mules Clogs size 39 US 9CROCS Dual Comfort Lightweight Sarah Espresso Slip On Mule Clogs Women's Size 7Alegria womens size 37, US sz 7 Kayla Professional Black Clogs Mule KAY-241 NICE , Dansko Black Patent Leather Professional Clogs Womens Size 38MINNETONKA Moccasins Womens Chukka Boots 8.5M Blue Suede Tan Lacing AccentsDansko Women's Lindy Caramel/Brown Slingback Sandal Size 40 / 9-9.5M NICEFly Flot Women's Leather Slip On Shoes Navy Centre Vent & Flower RRP .99 NEW , SFC Shoes for Crews Grace Black Leather Women's Shoes 3608 Sz 8.5Mens Work Safety Occupational Steel Toe Anti Puncture Boots Shoes High Top Yoooc , Crocs MERCY Women’s White Rubber Slip Resistant Work Clogs Shoes US 11 C204 , shoes for crews womans sz 8.5 ,
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 Everlane 100% Italian Leather Chelsea Ankle Boots Booties, Burgundy,CLARKS ORIGINALS 5.5 WOMENS CHUKKA BOOT STORE DISPLAYLadies Spot On Wellies Style - X1187Nice Dan Post Womens Western Tan Boots Made In Spain Sz 6 1/2A , New Women Breckelles Pamela-61 Metallic Round Toe Thigh High Stiletto Heel Boot , Earth Origins Taupe Brown Leather Portia Zipper Moto Riding Boot NewWomen Lady Ankle Boots Solid Pointed Toe Flat Autumn Genuine Leather Short BootsDistressed Motorcycle/Pirate Boots Buckles Strapy Size 8 BlackKaren Scott Women's Hulah Knee High Dress Boots TW4 Black Size 11M $79.50 , Vintage LL Bean Chukka Brown Leather Ankle Boots Shearling Insulated Made USA 9 , H by Halston Black Ruched Suede Sarah Heel Boot 5 NEW , New Micheal Kors Women's Leather Flat shoes Size 7.5US,38EUR , Skechers Womens Go Step Dandy Casual Comfort Shoes/Slip Ons/ComfortableFRYE 3479264-BLK Womens Dylan Slip On Size 7.5 M NWOBCharles by Charles David Women's Archie Wedge Sandal Nude Microsuede Espadrilles , Marc Joseph New York Womens Wall ST. Leather Closed Toe Loafers , NEW DANSKO WOMEN'S TENLEY SLIP-ON CLOG BLACK GREY NUBUCK 41 11 MEDIUM $135 , Summer Women's Leather Slingbacks Rock Roman Hollow Out Open Toe Zip Decor ShoesChloe Kyle Susanna Studded Black Hightop Sneakers Shoes 37 $699SARTORE Shoes 868621 BlackxMulticolor 36BATZ FC10 Handmade Leather Womens Ladies Slip-on Clogs Mules White 39Womens Size 6 CONVERSE Chuck Taylor 647626F CT DBL TONGUE BLACK/BERRYSAS "FREETIME " White Leather Comfort Loafer Shoes NIB sz 10 N USA madeNike Air Huarache City Low Women's Running Shoes Obsidian AH6804 401 Sz6-9 K , Hoka One One Women's Clifton 4 - Red Orange/Peacoat 1016724ROPC Size 6 , Women's BareTraps Quarles Riding Boots, Black BootsWomen's casadei boots Size 7 Boots , Enzo Angiolini Black Leather Side Zip Knee High Gold Buckle Boots Sz 7.5 MFila Women's Memory Elleray 5 Slip Resistant Black/Black/Black , Nike Air Max 90 Ultra Plush Womens Trainer Size 4 Pink New RRP /- ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Drew Size Tulip in Comfort Shoe in White- 8 Size 8 aa2419e Comfort Shoes
Powered by VIP.