The Buzz
All markets and investing news all the time

NIB Valentino Black Star Canvas on Print Espadrille 39 Flat Slip Print on Shoe 39 - 9 8b6e838

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: valentino
Heel Height: Flat (0 to 1/2 in.) Style: Espadrilles
Color: Black US Shoe Size (Women's): 9
Country of Manufacture: Italy Width: Medium (B, M)
Pattern: Star Material: Canvas
Fastening: Slip On UPC: Does not apply

NIB Valentino Black Star Canvas on Print Espadrille 39 Flat Slip Print on Shoe 39 - 9 8b6e838 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
NIB Valentino Black Star Canvas on Print Espadrille 39 Flat Slip Print on Shoe 39 - 9 8b6e838
NIB Valentino Black Star Canvas on Print Espadrille 39 Flat Slip Print on Shoe 39 - 9 8b6e838 -

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 Valentino Black Star Canvas on Print Espadrille 39 Flat Slip Print on Shoe 39 - 9 8b6e838

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
NIB Valentino Black Star Canvas on Print Espadrille 39 Flat Slip Print on Shoe 39 - 9 8b6e838 -
About This Author
NIB Valentino Black Star Canvas on Print Espadrille 39 Flat Slip Print on Shoe 39 - 9 8b6e838 -
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
Burberry Plaid Printed Slip-On Espadrille, 40 , Y's Yohji Yamamoto Studded Black Leather Oxford ShoesVALENTINO White Noir Rockstud Patent Leather Cage Flat 38Christian Louboutin Tan Gold Twisted Leather Trim Ballet Flats Shoes 36 6M , NIB * Chloe Lauren Scalloped Suede Ankle-Strap D'Orsay * Elephant Grey * Sz 37.5 , New $690 MARNI Sabot Calf Leather Mules Slides Flats Loafer Black White Sz 37.5NEW $ 520 PRADA BLACK SLIP ON SUEDE LEATHER LOAFER SNEAKERS SIZE 37.5 , Marsell Sacchina Flats Gold Metallic Leather Size 37.5 Pointed Toe Slip-On NEWHermes "Natural" Brown "Box Calf" Leather "Irving" Loafers SZ 38Chloe Gabes Women's Velvet Ballerina Flats Black Dark Blue Deep Night Sz 40 EUR , VALENTINO Ballet Ankle Strap Flat Ballerina Shoe Black Suede Sz 36.5 - 6CHARLOTTE OLYMPIA Kitty Embroidered Velvet Slippers Flat Shoe 40.5 Blue , New Prada Womens Shoes Ballet Flats Size 37.5 Calzature Donna Loafers , Alexander Wang Dylan Wedge Espadrille Slip-On, Black, Womens Size 7 / 37 B $395Valentino Rockstud Flats 39.5 Pink BlushValentino T-strap Rockstud Ballerina Flats Size 6 , Christian Louboutin Toerless Muse Leather Flats sz 38$525 SS15 Moschino Couture Jeremy Scott Barbie Black Pink Logo Flat Ballet Shoes , New Prada Women Open Back Loafers In Red Velvet Black Leather w/Fringe Size 9 USGianni Renzi 005a Black Leather Studded Loafers Slip-On Platform 38 / US 8NEW BURBERRY LADIES CHECK COTTON LEATHER TRAINERS SNEAKERS SHOES 38/US 8 , Burberry Deardown Black Oxford Women’s size 7.5 Studded PlatformSO CUTE! Women's $450 Stubbs and Wootton Velvet "MOOR" Slippers Loafers Shoes , Simone Rocha Silver Transparent-Heel Leather Derby's Womens size 9 / 39 $1035 , Arche Laius Metallic Black Smooth Leather Slip-On Flat Comfort Shoe 9 New , Lanvin Paris New in Box w/Tag Champagne Satin Flower Ballerina Flats/Shoes Sz 38 , Salvatore Ferragamo Blue Varina Grommet Bow Ballet Flats Size US 10 / , ROBERT CLERGERIE Womens Black Croc-Embossed Loafers Slip-On Shoes 9-39 $495Authentic Alexander Wang Kori Geyser Ankle Boots Size 35
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 Romanini Womens Boots Size 7.5 Euro 38 Lavorazione Artigiana Leather Calf Italy , Crocs Womens Jaunt Shorty Boot- Select SZ/ColorFITZWELL Brown Suede and Leather Knee High Zip Fashion Boots Size 5.5 WRoxy Womens Ramona Black Leather Ankle Boots Shoes 6 Medium (B,M) BHFO 9842Willowbee Women's Sadie Boot, Grey, 10 M USBEARPAW RAINA Sheepskin Knitted Wool Winter Boots Womens 5 NEW IN BOX , Camy-6 Over the knee Thigh High Pointy toe Chunky Heel Dress Snug Fit Boots , $160 NEW Steve Madden Carnaby Black Suede Ankle Boots Platform High HeelsBANDOLINO BLACK SUEDE BOOTIES-NEW WITHOUT BOX , Cole Haan Womens RTN Closed Toe Mid-Calf Riding Boots, Black, Size 6.5 , New Womens Black Leather Chelsea Ankle Fashion Dealer Boots , BZees Womens Nurture Fabric Round Toe, Brown Leopard, Size 7.0ECCO Womens Fara Closed Toe Boat Shoes, Black/Black, Size 8.5 eDUH , New Women Handmade White Pearl Slides Mules Sandals Shoes , WOMENS 5 M DINGO WESTERN COWBOY BOOTS BROWN LEATHERWOMAN'S BLACK LEATHER BOOTS SIZE 8.5 BY FOSSIL , Bearpaw Women's Jade Booties Black Faux Suede Size 6 M , Sz 9.5 Womens Yellow Leather Slip-On Loafers Made In Italy London Euro Size 411.State Facia Women's Size 9M Black Pewter Floral Brocade Fabric Mules New , Fendi Suede Ballet Flat Perforated with Leather Trim Size 8.5 , Dolce Vita Women's Elvah Mule, Mocha Leather, 8.5 M US , REBECCA MINKOFF Slip On Sneaker White GORGEOUS!! , New TORY BURCH Miller Gold Logo Pumps Wedges SIZE 5.5 New Model Closed Toe $295SPLENDID Racy Coconut RAILRAOD Tie CANVAS Stripe SHOES Flats 6 FREE SHIPPING , Inov-8 Trail Roc 236 Running Women's Shoes Size 10.5PUMA Women's Riaze Prowl Wn Sneaker, - Choose SZ/Color , Twinkle Toes by Skechers Golf Women's Go Pro ShoeTretorn Nylite Bold 3 III Perforated Soft Blush Pink Platform Sneakers 9 , NIB A2 BY AEROSOLES RIDE OUT BLACK TALL KNEE HIGH BOOTS 8 M MSRP $100Womens Eva & Zoe Brown Suede Zip up Heel Botties Size 9 1/2 M
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
NIB Valentino Black Star Canvas on Print Espadrille 39 Flat Slip Print on Shoe 39 - 9 8b6e838 Flats
Powered by VIP.