The Buzz
All markets and investing news all the time

REGAL Shoes Shoes localjoes-25666 671171 Black Black 24cm 8df9859

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: Item which there is little feeling of wearing, and is not worried about a dirt and damage
Brand: Unbranded Style: Loafers
US Shoe Size (Women's): 7 Color: Black
UPC: Does not apply

REGAL Shoes Shoes localjoes-25666 671171 Black Black 24cm 8df9859 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
REGAL Shoes Shoes localjoes-25666 671171 Black Black 24cm 8df9859
REGAL Shoes Shoes localjoes-25666 671171 Black Black 24cm 8df9859 -

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%.

REGAL Shoes Shoes localjoes-25666 671171 Black Black 24cm 8df9859

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
REGAL Shoes Shoes localjoes-25666 671171 Black Black 24cm 8df9859 -
About This Author
REGAL Shoes Shoes localjoes-25666 671171 Black Black 24cm 8df9859 -
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
Rockport Cobb Hill Women's Paulette Flat, Grey, Size 11.0 , Frye Carson Collapsible Silver Multi Metallic Leather Ballet sz 8MDOLCE VITA CULLEN Black Leather Designer Loafers Comfort 8.5 M , Ladies Padders Extra Wide Fitting Ballerina Style Shoes - FearneBIRKENSTOCK Shoes 673842 Black 24cmDansko Womens Fashion Sneaker /7.5-- Select SZ/Color. , VANELi Womens Nadette NuBuck Round Toe Loafers, Black Nabuk, Size 7.5French Sole Womens Jigsaw Leather Closed Toe Ballet Flats, Pewter, Size 11.0 MwYNICOLE Kaci Cordovan Wingtip Oxfords RETRO VINTAGE Loafers Womens Sz 6.5 �b1 , ALESSIA GRAY LMSP70 Women's Shoes Size 7 M Eur 4.5 Leather Slip On Mephisto , French Sole FS/NY Women's Passport Ballet Flat, Black, Size 5.5 1HeM , Tod’s Women’s Loafers Blue Sz 35/5.5 , Sesto Meucci Women's Neda Slip-On Loafer Brown Size 8.0 aEdc , French Sole Womens radar Fabric Closed Toe Ballet Flats, Peach Cork, Size 6.0 K8ANNABELLA WHITE LMSP70 Women's Shoes Size 7 M Eur 4.5 Leather Slip On Mephisto , Josef Seibel Black 38 US 7.5 Mules Heels. Clark’s. Sz 7. Nice. , Womens 7.5 W Wide stuart weitzman tan alligator crocodile ballet flat shoes pumpNew Womens PU Leather Hidden Heels Shoes Platform Zip High Top Casual Sneaker SZ , ECCO Womens Fara Closed Toe Boat Shoes Black/Black Size 8.5 eDUHClarks ARTISAN Women's Soft Black Leather Flat Mules Sandals - Size 8.5Spring Step Lazarina Women's Slip OnSesto Meucci Women's Neda Slip-On Loafer, Brown, Size 8.0 aEdc , `NEW Mozo Style Womens Sports Flat Slip Green Canvas Shoes Sz 7 Eur 37 , Salvatore Ferragamo Bronze Leather Bow Ballet Flats Italy 9 B , Nurture Women's Slide Flats Glitzy Black Suede Shoes Sz 7.5 M NEW DISPLAY D7068Walking Cradles Women's Flick Shoes - Black Waxy Soft Leather - Size 8.5 W , Gentle Souls Women's Bay Unique Ballerina Multicolor Flats US Size 5.5 M $210ALEGRIA PG LITE WOMAN SHOES IRIDESCENT SNAKE CLOGS MULE SIZE 38/8 ALG 715 , $125 FitFlop Womens F-Pop Ballerina Suede Cap Toe Flat Shoes, Dark Tan, US 7 ,
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 DOLCE by Mojo Moxy - "Tinker" Tall Black Boots - Size 7 M - EUC!Wanted Cricket Women Round Toe Rain Boots Blue Knee High Waterproof Side ZipperWomens Over The Knee Thigh High Boots Stilettos High Heels Dress Shoes , New Nine West Navajoe Beige Suede Booties Stilettos sz 5 M , J Crew Parker Ankle Boots - size 10 Black , Trotters Hailey Ankle Boots, Black, 9.5MMarc Fisher Black Leather Fold Down Boots Low Heel Sz 10White Mountain Brown Leather Ankle Booties Side Zip Slim Heeled Size 9AEROSOLES Womens MAKE A WISH Black Combo Zip Up Boots US 7M (888671174073)NIB CROCS COLORLITE MID BOOTS, KHAKI ESPRESSO WOMENS SIZE 71.4.3. Girl Talory Black/White Chevron Women's RainBoot Shoe Size 7 MExpress Women Black Thigh High Stretch Boots Size 8Dolce Vita Size 8 PHILLIPA Black Suede Wedge Heels Ankle Boots New Womens ShoesMerrell Women's Black Albany Sky Waterproof Booties Boots Shoes Ret $150 NewFranco Sarto Womens Chandra WC Fabric Closed Toe Knee High Black LE Size 6.0 x , Paul Green Munchen Womens 5 Tan Leather Shoes Sport Casual WalkingGB- Gianni Bini Flaunt-It Black Suede Platform Ankle Bootie Sz 11 M , Sophia Webster Loca Leopard Print Holograph Flat Shoes Size 38 1/2Tommy Bahama Relaxology Caylee Flat- Women's, Size 7 B, Snake Print , AUTHENTIC TODS DOUBLE T LEATHER LOAFERS BLACK GRADE NS USED -ATSalvatore Ferragamo Taiga Suede Loafers Brown Size 7.5 BAlegria Classic - Black - WomensSaucony Womens Cohesion 10 Running shoes sneakers Sz 9.5 Wide G582Alegria By PG Lite Pal-601 Paloma Black Napa Nursing Clogs Shoes 39 8.5-9 , Dolce Gabbana Womens Black Pony Hair Kitten Heel Pumps Pointy Shoes US 7.5 , Skechers Women's Empress - Solo Mood Casual Shoe , Converse Chuck Taylor All Star Hi Women's Girls Classic Casual Plimsol TrainersWomen's Ladies Gabor Shoes - 64.340 Flats , Women's jeffrey campbell free people BootsEarth Black Leather Casual Plain Toe Pump Heel Ankle Bootie Women's 7 B ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
REGAL Shoes Shoes localjoes-25666 671171 Black Black 24cm 8df9859 Flats
Powered by VIP.