The Buzz
All markets and investing news all the time

Sugar Women's Genius Casual Casual Fashion Women's Sugar Sneaker c4ee583

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: Sugar
Pattern: Solid Width: Medium (B, M)
Style: Running, Cross Training Color: Black

Sugar Women's Genius Casual Casual Fashion Women's Sugar Sneaker c4ee583 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Sugar Women's Genius Casual Casual Fashion Women's Sugar Sneaker c4ee583
Sugar Women's Genius Casual Casual Fashion Women's Sugar Sneaker c4ee583 -

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%.

Sugar Women's Genius Casual Casual Fashion Women's Sugar Sneaker c4ee583

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Sugar Women's Genius Casual Casual Fashion Women's Sugar Sneaker c4ee583 -
About This Author
Sugar Women's Genius Casual Casual Fashion Women's Sugar Sneaker c4ee583 -
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
Brooks Adrenaline GTS 16 Ed Blue Silver Teal Womens 11.5 Sz 44 EU Running Shoeswomens size 8.5 wide new balance 556 walk run washed driedMBT Physiological Footwear slip on rocker shoe Womens size 10 BlueVasque Womens Talus Trek Low UltraDry Leather Athletic Support Hiking Shoes 8Womens Nike Zoom Rival M 8 Multi Use Track & Field Spikes Blue 806559 401 8.5SKETCHERS SHAPE-UPS BLACK WHITE 11809 RUNNING TRAINING TONING WOMENS SIZE 7.5M , Skechers Women's D'Lites-Spark Interest Sneaker, Navy Blue, Size 6.5 ZjIRWomens BROOKS Grey / Blue / White Running Sneakers Sz. 7 US 5 EU , BROOKS RAVENNA 7 JOG RUNNING WALKING Women's Shoes Size 6.5 US MEDIUM , New Womens Skechers Go Walk City Champion 13827 (B9) , ASICS GEL STRIKE 3 RUNNING SHOES WOMENS SZ 7.5 WHITE PINK ATHLETIC GYM WORKOUTNike Flex Trainer 5 Women's Training Shoes (Grey/Sky/Lime) , Skechers Performance Womens Go Walk Lite- Boat Shoe- Select SZ/Color.Skechers Skecher Street Womens Hi-Lite-Metallic Toe into- Select SZ/Color. , Women Adidas XCS Spikeless G96481 Blast Purple Silver Red 100% Authentic NewHOTTER DayTIME Ladies shoes Colour Dark/blue Size Realistic for 40 sizes , Womens Sz 7.5 Simple 9470 Beige Pink Argyle Suede No INSOLES , Womens Size 8 Asics Gel Noosa Tri 10 T580N Running Shoes Flash Yellow Turquoise$170 NEW Superga 2790 Black Perforated Leather Sneakers 41 / 9.5 Women S0093K0 , CREATIVE RECREATION Womens Black Red Leather Fashion Sneakers Sz. 9SFC Shoes for Crews Revolution Women's Leather Shoes 9041 Wide Sz 11 / 42.5 NEW , New Women's Skechers GOwalk 3 - Equalize Walking Shoes (14041) (K4) , New Women's Skechers 12492 Empire Big Winner Slip On Walking Shoes (C4)MINNETONKA Pacific Women | White (672P)New Balance WL501FCA Floral Print Grey Red Lifestyle Women's NIB Sz 5 5.5Skechers Sport Womens E Z Flex 3.0 Willowy Fashion Sneaker- Select SZ/Color.New Women's Skechers 700 Utopia Wing It Sneakers - Black/Gold Size 6 (G13)Saucony Omni 14 Sauc Fit Running Cross Training Sneakers- Womens 7 W Blue/SilverEasy Spirit Women's Romy Walking Shoe, Black, Size 9.0 IKui
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 Very Volatile Womens heartbeat Almond Toe Knee High Fashion Boots , Pour la Victoire Gray Leather Pointed Toe Ankle Boots Size 9TAHARI black leather boot Size 7 Side Zipper , Vintage Makron Mid Calf Boot Women size 7.5 Tan LeatherAttention Women's Auden Cognac Bootie~size 11 High Heel boots ShoesCrown Vintage Boots Size 9 Suede , Cole Haan Tennley Engineer Fashion Boots Buckle Size 6.5B D38290 EUC , Women's pull on Stiletto High Heel Tassel kiltie Moccasin Boots Knee High ShoesSpring Step Women's Lilou Ankle Bootie, Black, 37 EU/6.5-7 M US , Teva Delavina Perforated Ankle Boot, Women's Size 8.5, Tanwomen's shoes OLGA RUBINI 7 () elegant black leather BX798-37ZARA New Burgundy Velvet Over The Knee High Boots SIZE USA 4.5 , Skechers 44911 Womens Commute-Carpool-Heathered Deco Stitch MuleLucky Brand Womens Linnea Leather Closed Toe Ankle Fashion BootsZara Woman Velvet Plimsolls With Faux Pearls Size 6.5 NWTZARA WOMAN NEW AW18 BEJEWELLED SLINGBACK SLIDES BLACK SHOES 5510/301BCBG Craftee Brown Womens Shoes Size 9.5 M Boots MSRP $118 , VINTAGE SHOE COMPANY Boots Women's Size 8.5 Classic Red/Brown Leather #B1889 , Cole Hann NikeAir Black Leather Over The Knee Riding Boots “Marisol” SZ 7 B $350Munro American Cruise Fabric Loafer Blue Women Sz 8.5 W 1186 , NWOB L'Amour Des Pieds Women’s Sz 9.5M Dareau Black Leather Flats Shoe Comfort , $225 size 6.5 Vince Maxwell 2 Olive Satin Ballet Flat Slip On Womens Shoes NEWSalvatore Ferragamo Saba Dot Ostrich Loafers Driver Moccasins Size 9.5 / 39,5Women's BOBS Skechers Spotlights Insta Glam Flat 34367/BLK Black/White Brand NewRalph Lauren Polo Tennis Shoes Casual Pink & Orange Sneakers Women's Size 5.5 US , Women Sport Run Sneakers Embroidery Flower Shoes Leisur WhiteWomen's Via Spiga Bristol Ankle Bootie Boots , Gil Peterson Black Knee High Boots Snakeskin Heels Toes Size 8.5 , Women Metal Buckle Punk Retro Mid-calf Riding Combat Boots Zip Shoes Plus Size , Dansko Women's Pro XP Cabrio Black 3912-000202 (All Sizes,Free Shipping)
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Sugar Women's Genius Casual Casual Fashion Women's Sugar Sneaker c4ee583 Athletic Shoes
Powered by VIP.