The Buzz
All markets and investing news all the time

WMN’S ARIAT Doll 27798 Baby SquareToe 16230 Suede/Leather Baby SquareToe Floral Cowboy Boots7M ($129) 1d712c9

Item specifics

Pre-owned: An item that has been used or worn previously. See the seller’s listing for full details and ... Read moreabout the condition
Brand: Ariat
Material: Leather Toe Type: Square Toe
Country/Region of Manufacture: China Fastening: Pull On
Pattern: Floral US Shoe Size (Women's): 7
Width: Medium (B, M) Heel Height: Med (1 3/4 in. to 2 3/4 in.)
Color: Brown Style: Cowboy, Western

WMN’S ARIAT Doll 27798 Baby SquareToe 16230 Suede/Leather Baby SquareToe Floral Cowboy Boots7M ($129) 1d712c9 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
WMN’S ARIAT Doll 27798 Baby SquareToe 16230 Suede/Leather Baby SquareToe Floral Cowboy Boots7M ($129) 1d712c9
WMN’S ARIAT Doll 27798 Baby SquareToe 16230 Suede/Leather Baby SquareToe Floral Cowboy Boots7M ($129) 1d712c9 -

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%.

WMN’S ARIAT Doll 27798 Baby SquareToe 16230 Suede/Leather Baby SquareToe Floral Cowboy Boots7M ($129) 1d712c9

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
WMN’S ARIAT Doll 27798 Baby SquareToe 16230 Suede/Leather Baby SquareToe Floral Cowboy Boots7M ($129) 1d712c9 -
About This Author
WMN’S ARIAT Doll 27798 Baby SquareToe 16230 Suede/Leather Baby SquareToe Floral Cowboy Boots7M ($129) 1d712c9 -
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
SLOGGERS waterproof rubber rain shoes Womens size 6 M red slip on shos FREESHIPPNEW VANELI Women's Suede Booties, Size 8.5M Gray, Heel Rubber Sole-BNW/O BOXNew Women's Knee high faux suede Military Combat Sexy Boots Best Quality shoes , Bandolino Thisone Brown Suede Boots Slouch Womens 9 M Mid Calf Half Zipper Cuff , Easy Street Womens Black Agatha Ankle Boots Shoe Size 11 MWhite Mountain Neponset Women's Boots Brown/Mul , Rampage Womens Black Ursula 3" Heel Knee High Boots Shoe Size 10 MWOMEN'S AEROSOLES JALAPENO BOOTIE GREY NEW!Very Volatile Womens Black Leather Ankle Boots 6.5KEEN Suede Leather Brown Tall Above Ankle Boots Dry Waterproof Women's size 6 , Sloggers Shoes Women's Sz 7 Black Polka Dot Low Top Rain Muck Mud GardenMatterial Girl Capri Women's Boots Cognac , Franco Sarto Size 7 Brown Pointed Toe Zipper Ankle Booties Shoes Women's 3" Heel , Cabelas Women 8 Waterproof Rubber Steel Shank Boat Ankle Duck Boot , Cobb Hill New Balance Women's 6.5 M Brown Leather Ankle Boots Chunky Heel BTS , LL Bean Leather Suede Wool Insert Waterproof Snow Winter Boots Women's Size 6Women Winter Snow Boots High Top Wedge Nubuck Large Plus Size Warm Velvet ShoesBlack heeled chelsea styled ankle booties, TOPSHOP, Leather(NJ-511) Women's La Sportiva FC 4.0 GTX Hiking Ankle Boots size 7.5Material Girl Persia Women's Boots Cognac , Nine West Women's Leather Knee High Boots Black Size 7.5Marc Fisher Leather Stacked Heel Chelsea Boots - Danton size 9 Bordeaux QVC $139WOMEN'S Matisse Ankle Boots BLACK 4 Inch Heels Shoes Leather Brazil Sz 8 M , Dingo Women's Fringe Cowboy Boots Tan Brown Leather Western Mid-Calf Shoes 6.5 M , Northside Pioneer Hiking Boots - Women's Size 8.5, Brown/PurplePRADA Black l Ankle Boots Booties Suede Size 38.5 Zip Number 9536 . (box33)Women's Lucky Brand Linnea Taupe Suede Heeled Ankle Booties Size 10 MKaren Scott Majar Women's Boots Grey , Womens Suede Flat Over The Knee Thigh High Stud Stretch Calf Ladies Riding Boots ,
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 Fergalicious Women's Rookie Slouch Boot, Black, Size 7.5 vfgdH&M Genuine Leather Heeled Chelsea Boots Black Size 41 Great ConditionBORN Brown Suede Fringe 'Thora' Ankle Boot Boho Hippie Size 8.5 LN , Delight 2018 Silver Glitter Knee Boot Clear Platform 6" High Heels Size 12 13 14 , Cat By Caterpillar Corrine Fireweed Womens Riding Boots 6.5 M, , New Ecco Norwich Suede Leather Side Zip Tall Dress Riding Boots Women's US 5.5MIndigo Rd. Margot Booties Blue Size 7.0 , Clarks Boots 8.5 M Brown Leather Riding Style Medium Block HeelZARA Women's Leather Ankle Boots with Studs(Black, US 7.5/)MIU MIU Leopard Ballet Flats (SIZE 39)Tommy Hilfiger Womens Ebonie Closed Toe Mid-Calf Cold Dark Chestnut Size 10.0 , Leather Riding Boots Block Heels Knee High Back Zipper Womens Shoes Autumn Size , Ralph Lauren POLO Women's Boots 7.5 , BareTraps Women's Bt Dallia Riding Boot, Dark Brown, 6 M US , Aquatalia Glenda Quilted Velvet Waterproof Shoes Burgundy Size 8 US , Flat Ivanka Trump Elise Modern GoldDrew Women's Monaco Dress Shoes Dusty Black Leather , John Fluevog - Size 7.5 - Black Hey Minstrel Love Sing Mary Jane Flats SandalsAsics Gel Enhance Ultra 4.0 Running Shoes-Women's size 10 Silver , NEW VANELi Womens Ballet Flat Shoes Size 9N | Gray & Silver Metallic | YOU PICK!Tod's penny loafers, blue suede, women's shoe size, US 9 $420 , Nine West Women's Blast Fabric Fashion Sneaker - Choose SZ/Color , Floral high top wedge mid heel sport shoes mesh sneakers creeper shoe US 4.5-8Skechers Sport Women's Gratis Bungee Fashion Sneaker , New Columbia Womens Vulc N Vent White,Oyster Fashion Shoes Size 8.5 , Inov-8 Womens Lite Black Running Shoes Size 8.5 (423646)Women's WOMENS WINTER BUTTON BOOTS (T7083) Boots , Bar lll*JILLIAN-Brown DistressLeather/Fabric Ankle Boots Heels Women's Sz"10M" , women's vogue new chunky heels zip pu leather ankle boots shoes size 4.5-10.5 , Spring Step Women's Acella Mid Calf Boot Camel Suede Zipper ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
WMN’S ARIAT Doll 27798 Baby SquareToe 16230 Suede/Leather Baby SquareToe Floral Cowboy Boots7M ($129) 1d712c9 Boots
Powered by VIP.