The Buzz
All markets and investing news all the time

NIB Flat $495+ BURBERRY 26986 LEYGREEN Rosey Beige Buckle Ballet Flat Ballet Shoe 39.5 -9.5 ITALY 2176dfb

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: Burberry
Heel Height: Flat (0 to 1/2 in.) Style: Ballet Flats
Color: Beige US Shoe Size (Women's): 9.5
Country of Manufacture: Italy Width: Medium (B, M)
Pattern: Solid Material: Leather
Fastening: Buckle UPC: Does not apply

NIB Flat $495+ BURBERRY 26986 LEYGREEN Rosey Beige Buckle Ballet Flat Ballet Shoe 39.5 -9.5 ITALY 2176dfb -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
NIB Flat $495+ BURBERRY 26986 LEYGREEN Rosey Beige Buckle Ballet Flat Ballet Shoe 39.5 -9.5 ITALY 2176dfb
NIB Flat $495+ BURBERRY 26986 LEYGREEN Rosey Beige Buckle Ballet Flat Ballet Shoe 39.5 -9.5 ITALY 2176dfb -

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%.

NIB Flat $495+ BURBERRY 26986 LEYGREEN Rosey Beige Buckle Ballet Flat Ballet Shoe 39.5 -9.5 ITALY 2176dfb

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
NIB Flat $495+ BURBERRY 26986 LEYGREEN Rosey Beige Buckle Ballet Flat Ballet Shoe 39.5 -9.5 ITALY 2176dfb -
About This Author
NIB Flat $495+ BURBERRY 26986 LEYGREEN Rosey Beige Buckle Ballet Flat Ballet Shoe 39.5 -9.5 ITALY 2176dfb -
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
$1100 Auth New Aquazzura Christy Jewel Flats Blue Satin Strass SZ 40Ralph Lauren Purple Label Womens Leather Wingtip Oxford Shoes 37.5M Made n ItalyLaurence Dacade Fifi Belted Flat Fringe Sandal Metallic Gold / Black US 8 $850new $650 PRADA off-white black leather trim pointy ballet flats shoes 38.5 8.5Valentino Ivory Leather Espadrilles IT 34 , Manolo Blahnik Teal Blue Suede Loafers SZ 38.5NIB Miu Miu Giada Green Yellow Lurex Print Pointed Bow Ballet Flats Shoe 37 $675 , NEW $700 DOLCE & GABBANA Shoes Ballerina Purple Velvet Crystal Strap EU39 /US8.5New BRUNELLO CUCINELLI Brown Patent Leather Oxford Shoes Size 36/6 $1180 , FENDI Red Monster Leather Slip On Sneakers Size 42 , Tod’s 38,5 Us 8,5 Black Leather Rubber Sole Shoes Oxfords 100% Authentic , $670 NIB Prada Leather Ballet Flats Black Leather 6.5EU/6.5US GORGEOUS!! , Alaïa Studded Cutout Nude Leather Ballet Flats sz 36AUTH NIB Christian Louboutin CL Glitter Suede Platform Sandals Hot Pink 38Mephisto Yliane Scarlet Nubuck 38.5 US8.5M NEW , Authentic Burberry Checked Flats Brown Shoes Size 7.5 , NIB BOTTEGA VENETA Pale Mist Suede Boat Shoes 6/36 $595 , .NWOB $1125 Brunello Cucinelli Leather Gold Lamé Cap Toe Ballerina Flat Sz37/7USPROENZA SCHOULER Grey Felted Obi Knot Loafer 36 , $670 Jimmy Choo Wyatt Gold Disc Flat Brown Leather Sandals Shoe Slingback 42-11 , MIU MIU WOMAN BALLERINA FLATS SHOES PATENT LEATHER CODE 5F9284 , VIVETTA Princi pink leather red toe nail bow upper platform monk shoes EU37 US7 , Saint Laurent Shoe Black Patent Ankle Strap Pointed Ballet Flat 39 / 9 , P-466900 Off White Women's Leather Sneaker US 8.5 Marked 38.5TOD'S WOMEN'S SUEDE LOAFERS MOCCASINS NEW BLUE F3ANEW VALENTINO WHITE LEATHER ROCKSTUDS BLK MINK FUR SNEAKERS FLAT SHOES 40/US 10 , sz 6 / 36.5 Valentino Black Leather Soul Rockstud Gold Stud Slide Flat ShoesNIB Christian Louboutin MEDINANA Fringe Convertible Loafer Spike Flat Shoe 36 -6 , Tod's XXW0HI040703JO3399 ballerina shoes Women's Green US ,
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 Exc cond NIKE HEAVY DUTY HIKING TRAIL MOUNTAIN BOOTS LADIES 8 M ARMY Canvas Tan , Vintage Women’s Dr. Marten's Brown Leather Grunge Hipster Boots-Sz. 5---8287 , SC35 Deenah Double Buckle Ankle Booties, Chocolate, 7 US , Women's Size 8.5 Black Suede Go-Go Boots by Amanda Smith , Aerosoles Double Trouble 2 Leather Ankle Boots, Women's Size 5 M, Brown NEWBCBGMaxazria Fillie Tall Leather Riding Boots Black Size 7 MSRP $395 see notesNew~NIB~EASY STREET 'Burke' Tall Riding Boots~Brown~$90~Size 7 M , Natural Soul Womens Harvard Closed Toe Ankle Fashion Boots, Dark Taupe, Size 6.0 , Italina By Summer Rio Women's High Heel Fashion Ankle Boots Pewter 98660 Size 6 , Evercreatures UK Brand Gumboot Red Rain Boots Wellies For Women , ECCO Womens Shape 75 Ankle Boots Blue Leather Booties Heels Sz US 10-10.5Jessica Simpson New Womens Nermin Tobacco Suede Leather Boots 6 M ShoesFrye womens boots high heels 7.5 black leather strap slouchy pull on Andrea mid , New $189 MIZ MOOZ 'Darien' Black Triple Western Buckle Buckle Bootie 37 , Earth 601271WLEA/601271WWLEA-0 Womens Elderberry Calf Leather PumpB (M)EMU Australia Womens Sheepskin Amity Moccasin , COMPTOIR DES COTONNIERS Black All Leather Hair On Penny Loafer Shoes Women 39 8Prada FW 2012 Runway Flower Brogue 36.5TOD'S women shoes Black leather white patent penny loafer XXW39A0U240H8S0002 , TOD'S WOMEN'S LEATHER LOAFERS MOCCASINS NEW BLACK E3FNIB $250+ Tory Burch LOWELL 2 Ballet Flat Shoe BLUE MACAW Leather Sz 8 WIDE , Nine West Womens Smoak Denim Ballet Flat- Pick SZ/Color.Nike Womens Nike Freefocus CoolGrey/WolfGrey-hyperVolt-summitWhite Running ShoesAdidas Womens Baseline W White/Black/White Fashion Shoes Size 8.5 (361723)PRADA Black Calfskin & Patent Leather Spectator Cap Ballet Flats Slippers 7.5 38 , Womens Leather Low Top Trainers With Buckle StrapWomens Nike Free Rn 2017 Running Wolf Grey Trainers 880840 002Dr. Scholl's Women's Madison Fashion Sneaker Black/Black Lizard Print 9 B(M) US , Women's VANELi Womens Flat- Pick SZ/Color. Flats , Dansko Womens Size 40 Pro XP Cabrio Oiled Black Leather Clog Slip Resistant Work ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
NIB Flat $495+ BURBERRY 26986 LEYGREEN Rosey Beige Buckle Ballet Flat Ballet Shoe 39.5 -9.5 ITALY 2176dfb Flats
Powered by VIP.