The Buzz
All markets and investing news all the time

Tory Burch Ruby Embossed 27741 Black Leather Ruby 7.5 EUC With Box Embossed Logo e5450a2

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: Tory Burch
Material: Leather Model: Ruby
Style: Ballet Flats US Shoe Size (Women's): US 7.5
Width: Medium (B, M) Heel Height: Flat (0 to 1/2 in.)
Color: Black

Tory Burch Ruby Embossed 27741 Black Leather Ruby 7.5 EUC With Box Embossed Logo e5450a2 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Tory Burch Ruby Embossed 27741 Black Leather Ruby 7.5 EUC With Box Embossed Logo e5450a2
Tory Burch Ruby Embossed 27741 Black Leather Ruby 7.5 EUC With Box Embossed Logo e5450a2 -

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%.

Tory Burch Ruby Embossed 27741 Black Leather Ruby 7.5 EUC With Box Embossed Logo e5450a2

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Tory Burch Ruby Embossed 27741 Black Leather Ruby 7.5 EUC With Box Embossed Logo e5450a2 -
About This Author
Tory Burch Ruby Embossed 27741 Black Leather Ruby 7.5 EUC With Box Embossed Logo e5450a2 -
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
Classic Prada flat black and ivory leather ballet flat 39.5 / 8.5 M , NEW NIB Women's TORY BURCH NAVY SEA MARITIME FLATS ESPADRILLES SHOES LOAFERS 9.5Floral Dr. Martens Polly Daze Mary Jane T strap leather shoes Womens Size 6 NWOB , Two Pairs Bally Red and Black Flats Women’s Shoes Size 10 , Marc Fisher LTD Sunny d'Orsay Flat - Women's Size 8M Black , Kenneth Cole New York Wallice Slip-On Flat Mules, Mutli, 9 US / 40 EU , NEW GEOX Respira Women Navy Breathable Italian Patent Leather Loafers , Tory Burch Womens 11 M Snakeskin Leather Ballet Flats Shoes , WOMEN'S ARIAT CRUISER FLEECE LIGHT TAN SUEDE 10025058 , DANSKO Brown Sz 38 (7.5/8) Women's Work Mules Nursing , Everlane Ballet Flat ’The Day Glove’ Shoes Black So Comfy Sz 6 $115 RetailNavy Blue "Pretty Ballerina" ladies shoes with low block heel size 10.5DIEPPA RESTREPO Black Suede Leather Stacked Heel Smoking Slipper Loafer Flats 9 , Prada Women's Leather Driving Loafer Moccasin Slip On Shoes Size 36 , Tory Burch Jolie Ballet Flat Light Oak Patent Leather Gold Logo Size 8.5 , EVERLANE LEATHER GRAY LOAFER WOMEN’S SHOES SIZE 7.5 MADE IN ITALY , New Womens Caprice on Air Burgundy slip on Mary Jane block heel shoes Sz 6.5 37 , Tory Burch Reva Women’s Size 6.5 Navy Blue Patent Leather Medallion Ballet FlatsTory Burch black patent leather flats women sandals EU36 UK3 US6NEW J. Crew Addie Gallop Gray Flannel Embroidered Horse Loafers Flats Size 6FRYE GWEN WOMENS SLIP ON SUEDE MULE SHOES NEW SIZE 7.5Twisted X Ladies Breast Cancer Awareness Dusty Tan Driving Moc - SIZE US 8LK Bennett Scott Cap Toe Patent Leather Ballet Flats 37.5 7 7.5 , NEW WOMEN'S DR. MARTENS 1461 MULTI COLOR GLITTER LEATHER OXFORDS US SIZE 8Dansko Womens Shoes Size 38 US 7.5 Brown Suede Leather Slip On Moccasin Oxford 8 , Stubbs & Wootton Wo 8.5 Olive Green Canvas Grosgrain Orange Trim Loafer Shoes , Women's Dansko Professional Brown Floral Embossed Leather Clogs 806780202 Sz 41 , Acne Studios Jackson Denim Moccasins Black/white Size 7us ❤Clarks Caval Dixie women size 8.5W Navy color ,
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 Skechers Womens Easy Going-Quantum Ankle Bootie- Select SZ/Color. , LANDS END Brown Suede-Fleece Lined Boots Women's Size 11 , Womens Fashion Shoe Boots Slouchy Riding Combat Military Mid Calf Equestrian NEWMarinelli Archer Black Tooled 2.5" Heel Leather Boots Size 7 , Vogue Womens Suede Pointed Toe Ankle Boots Block Chunky Heels Casual Shoes I174Womens Bling Sequins Transparent High Heel Shoes Party Over Knee High Boots HotVINTAGE 50'S YODLERS LADIES WINTER FAUX FUR WOOL BOOTS APRES YETI MUKLUKS 8 USAWomens Bearpaw boots Meadow 6 brown NEW , MONTRAIL DGL2121 WOMEN'S MOUNTAIN MASOCHIST GORE-TEX WATERPROOF MID BOOT US 7 , New Balance Terra Stryder Boots Gray 1201 GTX Gore-Tex Vibram Sole Size 8.5 , BOBS from Skechers Womens Highlights-Get Knitty Flat- Pick SZ/Color.WALKING CRADLE CLASSICS Women TERI Black Slip On Loafers US 10.5N (0234147)GEOX RESPIRA 41 BEIGE LEATHER SLIP ON HORSEBIT DRIVING SHOE MOC WOMEN USA 10.5 M , ARRAY Womens Camille Leather Closed Toe Oxfords , NEW MINNETONKA VENICE BROWN RUBBER SOLE FRINGE ANKLE BOOTS WOMEN'S SIZE 10 , North Face Chilkats Womans Winter Boot 7 Primaloft 200 Gram Waterproof Pink Grey , Ariat A-1 All Around brown leather western cowgirls 9.5 ATS softIsaac Mizrahi Brown Boots size sz 9 4" heel Knee HighAK Anne Klein Sport 25028097 Womens Ulisa Synthetic Ballet Flat 7Reebok Womens Sublite Xt Cushion Alloy/LuminousLime/White Running Shoes Size 8 , Tony Little Womens Cheeks Fit Body Ankle Sneaker Boot - Grey Size 7.5M NWB , Eastland Women's Anna Monk Strap Slip On Black 6 M , Women's Cartoon Loafers Flats Moccasins Shoes Slip On Casual Leather Pumps 35-39Aerosoles Women's Over Drive Loafer, Chambray Nubuck, 11 M USNEW COLE HAAN WOMENS WOMEN'S NANTUCKET LOAFER - CHALK-IVORY , Asics Womens Leather Gel-Foundation Walker 3 (Xtra Wide Width) Sneakers/Trainers , Nike Wmns Air Force 1 HI PRE 654440-004 Max 90 NEW , NIKE Women's Free 5.0 TR Fit 4 Print (Size 5, Color Pink) , Puma Womens Suede Heart Reset Pink Fashion Sneakers 8.5 Medium (B,M) BHFO 5807 , Women's Via Spiga Ankle Boots Booties Shoes Size 6.5M Nude Leather Side Zip U1
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Tory Burch Ruby Embossed 27741 Black Leather Ruby 7.5 EUC With Box Embossed Logo e5450a2 Flats
Powered by VIP.