The Buzz
All markets and investing news all the time

Susina localjoes-27758 Boots Suede Stevie 10 Boots Booties 10 Mushroom Shoes LN 5544356

Item specifics

Condition: Pre-owned :
An item that has been used or worn previously. See the seller’s listing for full details and description of any imperfections.See all condition definitions- opens in a new window or tab
Seller Notes: Wore one time
Brand: Susina Material: Suede
US Shoe Size (Women's): US 10 Style: Booties

Susina localjoes-27758 Boots Suede Stevie 10 Boots Booties 10 Mushroom Shoes LN 5544356 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Susina localjoes-27758 Boots Suede Stevie 10 Boots Booties 10 Mushroom Shoes LN 5544356
Susina localjoes-27758 Boots Suede Stevie 10 Boots Booties 10 Mushroom Shoes LN 5544356 -

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%.

Susina localjoes-27758 Boots Suede Stevie 10 Boots Booties 10 Mushroom Shoes LN 5544356

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Susina localjoes-27758 Boots Suede Stevie 10 Boots Booties 10 Mushroom Shoes LN 5544356 -
About This Author
Susina localjoes-27758 Boots Suede Stevie 10 Boots Booties 10 Mushroom Shoes LN 5544356 -
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
Lucky Brand Jean Co ELENA Black Leather Mid Calf Boots Tan Stitching 8M , American Rag Seleste Black Womens Shoes Size 10 M Boots MSRP $69.99Capelli New York Waterproof Rubber Black Matte Buckle Pull On Womens Boots Sz 6Minnetonka Womens Size 9 Triple Fringe (11" Tall) Gray-Brown Boots 1631T , JESSICA SIMPSON Womens Fashion Boots Leather Western Fashion 8.5BWomens Aldo Black Leather Knew Hi Boots Size 37 , NEW! Eastland 3932-02 Womens Belmont Mid Calf Boots Brown 6M 121N aaKK-9 Kelly & Katie Women's Paisley Rain Boots, Size 9M US , Woman's Sigerson Morrison Black Flat Boot - Size 8Women's Diba Tan Leather Butterfly Point Toe Pull On Heel Cowboy Boots Sz.8.5Womens MOSSIMO Sz 8 Brown Faux Leather Cowboy Boots Studs & HeelsWomen's Size 7.5 M LifeStride Georgette Ankle Bootie, Dark Chocolate BrownEUC Lucky Brand Fedora Black Leather Wedge Heels Boots Women's Size 9.5M , Tommy Hilfiger 6 M Blue Suede Leather Ankle Crepe Sole Chukka Boots Shoe TwzakryLAUREN RALPH LAUREN Sorissa Black Leather Buckle Boots Women 7 , WRANGLER Brown Leather Western Boots Women's Size 6.5 , Puddletons Black & Pink Rain Boots with Buckle Classic Tall - Women Size 11Joie Women's Dalton Suede Ankle Boots Size 39STEVE MADDEN Women's RITTE RINDING BOOTS Knee Height LEATHER / Suede Round sz 6NEW Anne Michelle women's ladies laser cut mid calf silver sparkle boots size 6To Be Announced Black Heeled Gold Spiked Shoes Womens Nasty Gal , Women's Laura Scott brown knee high kitten heels full boots size 7 newTeva Womens Foxy Brown Leather Ankle Boot Zip up Size 6 (b24) , KL-10 Khombu Lily Women's Winter Boots, Black, Size 10M US , Women's Size 6.5 M LifeStride Georgette Ankle Bootie, Dark Chocolate BrownFashion nova thigh high open toe boots , Style & Co Charlees Women Round Toe Synthetic Brown Ankle Boot, Size 7.5Worthington ladies' 8.5M boots knee-high brown suede fabric uppers 4.25" heelSperry Top-Sider Saltwater Petrol Rubber/Tan Leather Duck Rain Boots Women’s 6 M ,
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 Sexy Faux Suede Rabbit Fur Knee High Platform Gogo Boots Shoes Adult WomenBAMBOO Saber 03 Cut Out Detailed Ankle Bootie Black , Andiamo Terra Brown Studded Mid-Calf High Heel Boot 9 NEWS.C Vedaa Riding Boots, Black Multi, 6 US Display , Wild Diva Ankle Boots Booties Faux Suede Clear HEAL SIZE 8 1/2 �FREE SHIPPING� , L@@K Clarks Women Brown Leather Ankle Boots Zipper Cap Toe Sz 10M EUC , Diane Von Furstenberg Brazil Womens Size 9 Beige Suede Fur Stiletto Boots , Dan Post Light Brown Leather Tall Buckaroo Cowboy Boots Womens Sz 8 C Style 4228Columbia Womens 7.5 Vallara II BL 1236-613 Winter Snow Boots Pink , Womens Fur Trim Warm Knee High Boots Platform Faux Suede Winter Shoes Vogue ZipChic Womens Stretchy Hidden Wedge Heels Knee High Boots British Plus Size Shoes , Marc Fisher ‘Hulie’ Black Synthetic Velvet Over The Knee Boots Women's Size 8 MHarley Davidson Women's Black Textured Leather Harness Biker Boots Size 8 NWOT , New Roma Sadie Robertson Floral Rain Boots Size 7Hunter Original Tall Matte Blue Rubber Rainboots Women's Size 5 very good condit , Sesto Meucci Stretch Suede shoes, Pewter - Size 6.5B - NIB RT. $299.00 , Jeffrey Campbell Women's Charlin Point Toe Mules, Black, 6 M US , NWT KENZO Paris CANVAS ANIMAL PRINT ESPADRILLE FLAT SHOES SIZE: EUR7 38 / USA 8Rocket Dog Rynna Coast Quilted Fabric Womens Flat- Choose SZ/Color. , Womens Real Leather Slip On Metal Loafers Casual Shoes Slippers Stylish , Avec Les Filles Gisella Women's FLATS White Floral , Kenneth Cole New York Women's Wynter Mule , BNIB Clarks "Jocolin Vista" Cloudsteppers™ Casual Loafers, Women, Black, Size 6WNB Christian Dior Jadior Black White Logo Checkered Espadrille Slip On Flat 37.5MEN'S NIKE FLYWIRE SHOES/ HIGH TOP/BLACK /SIZE 8.5/ LEATHERCole Haan ZERØGRAND Black Suede Wingtip Oxfords - Women's Size 11 BNaturalizer Womens jetty Leather Low Top Zipper Fashion, Black, Size 7.0 , Women's Skechers Women's GOrun 6 Athletic ShoesWomen's Born Kenley sz 6,5 BootsNew Balance Women's Fresh Foam Kaymin Trail Running Shoe Black/Phantom Sneakers
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Susina localjoes-27758 Boots Suede Stevie 10 Boots Booties 10 Mushroom Shoes LN 5544356 Boots
Powered by VIP.