The Buzz
All markets and investing news all the time

Lacoste Lanas Lanas* W AP SRW** Women's shoes 6.5* NEW* fb592af

Item specifics

New without box: A brand-new, unused, and unworn item (including handmade items) that is not in original packaging or ... Read moreabout the condition
Style: Flats
Color: LT BLU/PNK/WHT US Shoe Size (Women's): 6.5
Brand: Lacoste

Lacoste Lanas Lanas* W AP SRW** Women's shoes 6.5* NEW* fb592af -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Lacoste Lanas Lanas* W AP SRW** Women's shoes 6.5* NEW* fb592af
Lacoste Lanas Lanas* W AP SRW** Women's shoes 6.5* NEW* fb592af -

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%.

Lacoste Lanas Lanas* W AP SRW** Women's shoes 6.5* NEW* fb592af

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Lacoste Lanas Lanas* W AP SRW** Women's shoes 6.5* NEW* fb592af -
About This Author
Lacoste Lanas Lanas* W AP SRW** Women's shoes 6.5* NEW* fb592af -
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
J. Crew Factory Addie gallop loafers gray sz 7Ted Baker Thfia Slip On Shoes - Women's Size 8, Blushing BouquetSperry Top-Sider A/O Navy Woven Leather Boat Shoes Womens Sz 8.5 NIB , $178 FREE PEOPLE Abbey Road Black Patent Slingback Mule Crystal Toes 37 6.5Sam Edelman Brina studded flats size 7naturalizer Dove Wedge Ballet Flats, Black Leather, 6.5 W USRebecca Minkoff Nana Leather Slip On Shoe - Women's Size 9M, Black , TORY BURCH GOLD BALLERINA FLATS LEATHER SHOES 6 , CLAUDIA CIUTI BROWN WHITE CALF HAIR FUR LEATHER BALLET FLATS 7.5 M CAP TOE NEWARCOPEDICO ELIO PARODI BLACK LEATHER SLIDE FLATS 37 6.5 7 M SLIP ON PORTUGAL NEW , Matt Bernson Waverly Cap Toe Leather navy and gold Ballet Flats sz 9.5Sperry Top-Sider Angelfish Washed Red Perforated Boat Shoes 9342361 NEW Sz 11 M , Clarks- Channing Ann Loafers, Women's Size 6.5 M, BlackAuthentic Tory Burch Daria Driving Navy Blue Loafers Moccasins Size 8MMARGAUX LONNBERG Womens Black-Suede Round-Toe Ballet-Flats Slip-On Shoes 9.5-401.State Facia Women's Size 7.5M Black Pewter Floral Brocade Fabric Mules NEWSam Edelman FELICIA 6.5 RED Leather~Ballet Flats~NewNEW Fitflop Superskate Slip-On Sneaker Snake PRINT, Women Size 7.5 $ 130 , G H Bass & Co Weejun Women's Wynn Genuine Leather Mule Loafer Shoe Slip On 8.5Munro Womens Dark Brown/ Black Shoes 5 M , Seychelles Coast Slides size 7 new in box redPAUL MAYER. Embossed Black Suede Ballet Wedge. Size 8 ½. , Madison Harding Women's Size 7 M US Mawby Canvas Ballet Flat, Leopard Print1.State Facia Women's Size 8M Black Pewter Floral Brocade Fabric Mules NewTsubo Women's Orange Leather Flats 8Stella McCartney Cute Flats 6.5 / 36.5Soludos Women's Embroidered Avocado Platform Espadrille Shoes AB4 Sand Size 8 , Aetrex Dakota leather ballet flats 2/arch support. Sz 9.5 , Tory Burch MINNIE Travel Ballet Flats Black Leather Logo Medallion Size 9 * ,
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 TESORI womens black suede wedge ankle boots size 8.5WOMAN'S 7.5 BROWN TAN LEATHER WESTERN COWBOY BOOTS SHOES EUC �✌️������� , Ladies Spot On Flat Shoes F9729 , LADIES SPOT ON TAUPE ZIP ANKLE BOOTS WITH POINTED TOE STYLE - F4363Womens Italian Leather Knee High 3" Heel Leather Boots Size 6 M Made in Italy , new ladies Fuchsia/Gold Button Winter Warm Flat Ankle Sexy Boots Size 7WOMENS GIANNI BINI TAUPE HARNESS ENGINEER SHORT SUEDE LEATHER BIKER BOOTS 5.5 M , Twisted Shelly 78 Boot Women's ShoesZARA Embroidered Stocking-Style High Heel Court Shoes New US//37; 7.5/38 , $250 BCBG MAX AZRIA Womens MA-Naples1 Platform Pump Booties Shoes, Black, US 9.5$199 BCBG Max Azria Women Lexy Zip Up Canvas Tall Boot Shoe,Dark Caramel,US 6.5Arizona Katy Womens Slouch Boots Grey Size 12M , Seven Dials Nicki Studded Pointed Toe Over the Knee Boots - Black - Size 8HARLEY DAVIDSON TAN LEATHER ANKLE HARNESS MOTORCYCLE BOOTS WOMEN'S SZ 5.5Spring Step Conchetta Oxfords - Women's Size 7.5/8 M, BlackLFL by Lust for Life Women's L-Hypnotic Ballet Flat Blush Size 7.0Rudel Rogers Boots Womans Size 5.5 E Cowboy Western , Sexy 3" High Heel Gogo Dancer Gold Knee Boots Halloween Costume GOGO300/G/PUFranco Sarto Ankle Zip Boots Booties Gray Grey Size 8MXOXO Women's Belina Ankle Bootie Taupe 10 M US , Rare VTG NEW Ralph Lauren Country Leather Moccasin Loafers Sz 6.5 B , Kenzo Womens Block Heel Derby Patent Leather Black Designer Shoes Size 36 US 6Women Hollow Wedge Heels Creepers Summer Leisure Running Breathable Shoes Pumps , Brooks Adrenaline GTS 13 Women's White Blue Gray Turquoise Running Shoe Sz 7.5 , Propet Women's W2034 Stability Walker Sneaker,Black,9 X (US Women's 9 EE) , Nike Flex 2017 RN Womens 898476-101 White Glacier Blue Running Shoes Size 10Skechers Sport Women's Dreamchaser Ante up Walking ShoeTaupe10 M USSkechers Sport Womens Dlite Ultra Sneaker- Pick SZ/Color. , Skechers Bright Idea Off Base Womens - Casual Shoe 8- Choose SZ/Color.Fashion Women Cute High top Casual Shoes Ankle Boots Low heel Back Plus US4-11 u
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Lacoste Lanas Lanas* W AP SRW** Women's shoes 6.5* NEW* fb592af Flats
Powered by VIP.