The Buzz
All markets and investing news all the time

$260 NWB Donald $260 J. NWB Pliner Hadlee 6.5 Ankle Boots Expresso Women's 6.5 432fa03

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
Brand: Donald J. Pliner
Color: Brown Style: Fashion - Ankle
Heel Height: Med (1 3/4 in. to 2 3/4 in.) US Shoe Size (Women's): 6.5
Material: Suede Width: Medium (B, M)
UPC: Does not apply

$260 NWB Donald $260 J. NWB Pliner Hadlee 6.5 Ankle Boots Expresso Women's 6.5 432fa03 -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
$260 NWB Donald $260 J. NWB Pliner Hadlee 6.5 Ankle Boots Expresso Women's 6.5 432fa03
$260 NWB Donald $260 J. NWB Pliner Hadlee 6.5 Ankle Boots Expresso Women's 6.5 432fa03 -

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%.

$260 NWB Donald $260 J. NWB Pliner Hadlee 6.5 Ankle Boots Expresso Women's 6.5 432fa03

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
$260 NWB Donald $260 J. NWB Pliner Hadlee 6.5 Ankle Boots Expresso Women's 6.5 432fa03 -
About This Author
$260 NWB Donald $260 J. NWB Pliner Hadlee 6.5 Ankle Boots Expresso Women's 6.5 432fa03 -
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
CAT Caterpillar Colorado Beaned Tan Leather Unisex Ankle Boots UK-4HARLEY DAVIDSON slouch leather mid calf high heel western biker boots 6 MG by Guess POTENT Womens Ankle Boots SZ 10 M Black 5" Heel Zipper Sale Designer , Journee Collection Sun Bootie Women Grey 6 M$140 NIB Steve Madden Women Cacti Brown Suede Ankle Boot sz 8M , Sperry Top-Sider Womens 7 Cream Ivory Fleece-Lined Duck Shoes WaterproofLC LAUREN CONRAD WOMEN'S 9.5 MEDIUM, COLOR - TAUPE STRETCH MATERIAL LONG BOOTSteve Madden Jaque Women's Boots Black Size 9.5 MAlfani Womens Vandela2 Closed Toe Ankle Fashion Boots, Black, Size 5.0 CZSg , Cougar Womens Exceed Chelsea Suede Bootie - Black US Size 6.5 NWOB , Carlos Santana New Womens Lovage Black Animal Print Black Boots Shoes 5.5 Med , STUART WEITZMAN tall pointy toe lambskin leather high heel zip boots 5.5 B ***Chinese Laundry Women's Brinna Over The Knee Boot Toffee Suede Size 6.0Journee Collection Paris Womens Slouch Riding Boots Brown Size 7.5 , Nomad Pokie Blue BROWN LEATHER WESTERN Cowboy BOOTS TALL Sz 9 Snip Toe Cowgirl , NEW URBAN OUTFITTERS BLACK MILTI-STRAP RIDING BOOTS SZ 6Elyse Walker Black Suede Fringe Trim Wedge Heel Ankle Boots SZ 40 , Unisa Womens Zali 2 Closed Toe Ankle Fashion Boots, Brown, Size 7.5 jcsKVANELi Womens Xlan Pointed Toe Ankle Fashion Boots, Black suede, Size 8.0 , Evercreatures Womens Green Rain Boot Gumboots Ankle WelliesNEW Splendid Rihana Bootie Black Open Toe Bow Suede Block Heel Zipper Size 6.5 , Sam Edelman Womens Brown Leather Ankle Boots Wedge Sz 6.5 , Report Women's Dilena Western Boot, Black, Size 8.0 GMIYSTUART WEITZMAN soft dark brown leather back zipblock heel ankle boots 7.5 M , INC International Concepts Hadli Over-The-Knee Boots Warm Taupe 5 MGiorgio Armani Black Mesh Evening Sandals Heels Size 36.5 , Original Intention Women Ankle Boots Glitter Peep Toe Slim High Heel Prom Shoes , MUK LUKS Women's Luanna Winter Boot Grey Size 7.0H Halston Cozy Leather Ankle Boots Faux Fur Lining Olga Grey 6.5M NEW A271618
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 Cole Haan Booties Womens Size 8 B Pull On Ankle Leather Tennley Buckle Black , MIA Womens berdina Suede Almond Toe Ankle Fashion Boots, Black suede, Size 5.5 D , CALL IT SPRING COGNAC MARROTTE WOMAN'S BROWN HIGH HEEL BOOTS SIZE 7 NEW!ZARA Black Leather Moto Boots Size 38 / 8 , Sbicca Sound Fringe Ankle Boots-Women's size 7.5 KhakiALDO Black Synthetic Suede Side Zip Over the Knee Thigh Boots Women's Size 8.5 , SAM EDELMAN LOUELLA BACK SUEDE SIDE FRINGE PULL ON KNEE HIGH BOOTS WOMEN'S 7 MLANE BRYANT SUEDE OVER THE KNEE BOOTS 9WStyle & Co. Womens Astarie Closed Toe Mid-Calf Fashion Boots Brown Size 9.5TORY BURCH WOMEN BALLET FLAT STRAW LEATHER SIZE 7 BLACK , BCBGeneration Womens Craftee Leather Round Toe Ankle Fashion, Tan, Size 9.0 PmPgSplendid Womens Lakota Suede Ankle Slip-On Boots Nut-SS Shoe Size 7.5 MSam Edelman Rivers Women's Black Pointed Toe Flats Sz 8 1654 , NIB JUICY COUTURE BROWN SATIN PARADISE BALLET STONES BOW FLATS 6.5 ITALY , Calvin Klein E6317 Womens Shannin Loafer Flat- Choose SZ/Color. , Cole Haan Gilmore Mary Jane Ballet Flat Suede Leather Grey 6023 Sz 9.5 B , TOD'S WOMEN'S LEATHER LOAFERS MOCCASINS NEW HEAVEN BLUE 1FBMiu Miu Belted Ankle Wrap Leather Ballet Flat , New Balance Women's Running Shoes W690HB4 Size 8Sweet Womens Girls Pointy Toes Suede Loafers Buckle Low Block Heels Flats Shoes , USA Espadrilles Size 7 Vintage / Retro NEW! Women's Shoes 1980's YugoslaviaRebecca Minkoff Womens Romy Almond Toe Loafers, charcoal felt, Size 8.0 SygG , DC Women's Heathrow SE Shoes - Choose SZ/ColorWomens Adidas Grey Prime Knit Shoes Sz 8.5Women's Nike FREE 5.0 TR FIT 5 Training Shoes Bright Crimson / Pink/White Size 7 , aravon by New Balance Brown Walking Casual Shoes 6 2A Narrow Oxford Quality $175 , Nike Womens Free Gym Split Toe Run Running Yoga Shoes Size 7 Black SN 487788-001 , Women's JESSICA SIMPSON..OVER THE 5.5 BootsMango-51 Fashion Knee High Zipper Buckles Low Heel Comfort Women's Boots BlackPropet Women's Ghillie Walker Slingback Sandal Brown Full Grain Leather ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
$260 NWB Donald $260 J. NWB Pliner Hadlee 6.5 Ankle Boots Expresso Women's 6.5 432fa03 Boots
Powered by VIP.