The Buzz
All markets and investing news all the time

Jslides - Women's Women's Raoul Leather - - localjoes-27703 Beige 245afc2

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: Jslides
Material: Leather upper and lining/rubber sole Style: Espadrilles
Color: Beige Size Type: Regular

Jslides - Women's Women's Raoul Leather - - localjoes-27703 Beige 245afc2 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Jslides - Women's Women's Raoul Leather - - localjoes-27703 Beige 245afc2
Jslides - Women's Women's Raoul Leather - - localjoes-27703 Beige 245afc2 -

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%.

Jslides - Women's Women's Raoul Leather - - localjoes-27703 Beige 245afc2

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Jslides - Women's Women's Raoul Leather - - localjoes-27703 Beige 245afc2 -
About This Author
Jslides - Women's Women's Raoul Leather - - localjoes-27703 Beige 245afc2 -
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
BNWOT Miu Miu Gold Glitter High Top Sneakers size 38 100% AuthenticNWB Stubbs & Wootton Purple Velvet Loafers Block Heel Round Toe Shoes Size US 11Hogan Wo's 10 M Red Patent Leather Pumps With Ankle Strap Made In Italy , BY967 MBT shoes blue leather patent leather women ballet flats , NIB - MM6 MAISON MARGIELA - GLITTER SEQUIN BUCKLE SHOE - SIZE 39 - BOOTWomen's Shoes FRYE 'Carson' Ballet Flats Black Leather Size 11 MexicoMARC JOSEPH WOMEN'S BROOKLYN DRESSY SLIP-ON LOAFER TASSEL, MADE IN BRAZIL , RALPH LAUREN MARLOW ALLIGATOR CROC TASSLE LOAFERS SHOES, AMAZING!Robert Clergerie Alicel Slip On Block Heel Loafers 550, Natural, 4.5 US / 35 EU , NIB Tory Burch York Snake Print Ballet Flat Shoe Sz 7.5 M Back / White Multi , KEEN TERRADORA WOMENS AUSTRAL in Astral Aura , $850 Givenchy Dog Print Black Leather Espadrilles size 36Dr. Martens Women`s 1461 3989 LIMITED EDITION MIE Black US 8.5 RARE , NIB $235+ Tory Burch Mini Miller Ballet Flat Shoe Melon Micro Tejus Sz 10 , PAUL GREEN Womens Beige Shimmer Leather Fashion Sneakers Sz UK-7.5 / US-10Tory Burch Miller Thong Sandal Stripped Patent Leather Flats Flip Flop 7 SlideNWT Tory Burch Natasha Ballet Flats - Size 6 - Retail $235 , ARA WOMEN'S MIRIAM WALKING COMFORT SLIP-ON SHOE STYLEMEDIUM WIDTH , NWOB Stuart Weitzman Atoll Aniline Moxie Patent Moccasin Flats, size 8US, TealNIB TORY BURCH AMBROSE BORDEAUX LEATHER GOLD REVA BALLET FLATS 8New Taryn Rose Cheetah print Metallic Leather Flats, 36/6 , JIMMY CHOO-Raspberry Suede & Pewter Leather Sandals, Size-38 1/2 , Drew Women's Delite Orthopedic Shoes Black Calf MeshGentle Souls Antique Pewter Ballet Flats 7 Brand NewEUC Authentic Valentino Garavani soft brown leather flats faux pearls , Givenchy Baby Breath Skaters Slides Slip On Flat Low top Shoes Size 39BNIB Tory Burch Quinn Gold Metallic Quilted Ballet Flats Sz 8 $235Loeffler Randall Lina Black Suede Scalloped Open Toe Flats Size 6Salvatore Ferragamo 7 C Black Embossed Leather Buckle Flats NIB 1242-13-51018
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 XOXO Womens Annabella Ankle Bootie- Pick SZ/Color.Candies Women's Tan Leather Platform Heels Slip On Loafers sz 8M , New Women's Winter Boots 10" Fur Lined Warm Side Zipper Snow Shoes, Sizes:5-11Womens LIFE STRIDE Solo Ankle High Heel Boots Size 7.5 , NWT Pony Hair Fur Leopard Animal Print Buckle Ankle Booties Wedge Heel Shoes 7.5 , Diba Women's Love Bug Leather Cut-Out Stacked Heel Ankle BootsNEW* Bearpaw Black NEVERWET Suede Ankle Boot with Faux Rabbit Cuff Trim 10Giuseppe Zanotti Platform Sculpted Heel Wedge White Suede 36.5eu 6us (ac50)STYLE & CO (SPUNKY BLACK MID CALF) WOMEN'S SIZE 10 BRAND NEW!! , PATAGONIA Womens Activist Puff High Waterproof Insulated Black Winter Boots 9.5New UNISA SUVINA over knee women's boots size 6.5Ladies Spot On F50683 Black Microfibre High Heel Gusset Ankle Boot/ Studded back , L'autre Chose Made In Italy Very Cute Genuine Leather Boots Sz 36/6 N Ret$410 , Women's Diesel Camel Suede Ankle Boots w/ Crepe Soles Size 7 , New MARC FISHER WOMENS OLYMPIA women's high boots size 8Womens 40 Peep Toe Ankle Boots Furry Bootie sz 10 M Taupe Suede 5inch A065 , Sam Edelman Rudie Studded Fringe Bootie Grey Suede size 12 woman EUC !! , ‘Modern Vintage’ Black Italian Leather Riding Boots Orig. $350 @ NYC boutique!NEW ALICE+OLIVIA Sz37.5 HILARY D'ORSAY CALF HAIR LEATHER POINTED TOE BLUE/BLACK. , Sam Edelman Women's Augusta Scallop Ballet Flats Pink Suede Size 8.5 M , Dior KCJ329VEL Flat Loafers 190, S14V, 6.5 US / 36.5 EUNike Women’s Wild Trail Grey/Purple/Magenta/Hyper Punch Running Shoes 12M , New Women's Sperry A/O 2-Eye Embossed Navy Boat Shoes Leather 8 8.5 9 9.5 10 11JENN ARDOR Penny Loafers Women Vegan Suede Leather Bow Knot Slip-On Flat CasualNEW NIKE WOMENS SHOX GRAVITY MULTIPLE SIZES WHITE WHITEOUT AQ8554 100 , Womens Round Toe Floral embroidery Slip On Loafers Wedge Heels Athletic Shoes sz , Women's Skechers Synergy 2.0-Mirror Image Air-Cooled Memory Foam 12386/NTLP , Women's Söfft Mytalini Flat ,Gunmetal (Women) Flats , Faux Suede Riding Boots Womens Girl Gothic Chunky Heel autumn Ankle Boot PLUS SzCLARKS Women's Flores Rose Ankle Bootie ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Jslides - Women's Women's Raoul Leather - - localjoes-27703 Beige 245afc2 Flats
Powered by VIP.