The Buzz
All markets and investing news all the time

stuart weitzman Abierto localjoes-27710 7.5 Suede Abierto Cocoa Suede 1af22ff

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
US Shoe Size (Women's): 7.5
Heel Type: Stiletto Style: Classic pumps
Color: Brown Heel Height: High (3 in. and Up)
Material: Suede Brand: Stuart Weitzman

stuart weitzman Abierto localjoes-27710 7.5 Suede Abierto Cocoa Suede 1af22ff -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
stuart weitzman Abierto localjoes-27710 7.5 Suede Abierto Cocoa Suede 1af22ff
stuart weitzman Abierto localjoes-27710 7.5 Suede Abierto Cocoa Suede 1af22ff -

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%.

stuart weitzman Abierto localjoes-27710 7.5 Suede Abierto Cocoa Suede 1af22ff

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
stuart weitzman Abierto localjoes-27710 7.5 Suede Abierto Cocoa Suede 1af22ff -
About This Author
stuart weitzman Abierto localjoes-27710 7.5 Suede Abierto Cocoa Suede 1af22ff -
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
Clarks Sillian Chell Bootie - Women's Size 10N, Black , New Gianni Bini Nailah Women's Size 8.5M Silver Patent Zip Pointed Toe BootiesSPERRY TOP-SIDER Rain Boots Nellie Kate Tall Black Brown Rubber Pull On Boot 10VINCE CAMUTO ANKLE BOOT SUEDE PARKA PICK SIZE & COLOR NWStuart Weitzman Black Patent Leather Boots Size 8 , Lucky Brand Linnea Studded Ankle Boots 604, Brindle, 6 US / 36 EUBP Nordstrom Tessie Tall Boot Gray Tuape Suede Womens 7 Over the Knee , Blondo Women's Black Textured Leather Flat Knee High Tall Buckle Zip Boots 6MKickers Boots grayish tan leather size 8Women Minnetonka Black High Fringe Suede Boot Size 10Naturalizer "Karmic" Leather Belted Ankle Bootie 423453-JJUSTIN Brown Snakeskin Leather Cowboy Boots Womens Size 8.5 B Style F3734 USA , Women's Fashion Shoes American Indian Dream Catcher Martin Boots For WomenNEW Vince Camuto Lehanna Bootie Show Down Brown Verona Suede Women Size 8.5 $160 , Steve Madden Womens Black Leather Ankle Boots 10 MNWT Womens Totes Waterproof Blizzard Boots w/ thermolite Red size 9M NWT NO BOXSergio Rossi Brown Suede Leather Knee High Heel Boots Womens Size 38 EUR , NWT Dolce Vita Carling Western Short Bootie Ankle Boot Nubuck Stella Black Sz 8 , Ivanka Trump Fashion Boots Over the Knee Women's size 5.5Carlos by Carlos Santana Rumer Over the Knee Slouch Boots Darkstone Womens 9.5Via Spiga Corene Pointed Toe Booties - Women's Size 10 M, BlackLauren Ralph Lauren MESA Boots 6.5B $179.00 BLACKMarc Modavi Black Leather Booties - 9.5COLUMBIA Brown Suede Hiking Boots Women’s Size 9.5 , Women Wolverine Serve Sr Oxford Slip Resistance Work shoes W20533 Black Original , CODE WEST Black Leather Western / Harness Boots Women’s Size 6Miz Mooz Leather Wedge Sandals - Kona Black 39((8.5-9) , Laredo Black Leather Cowboy Western Boots Womens Size 10D Style 2410 USA , Dr Martens Brown Leather Ankle Boots Made In England Womens US 6 / / ,
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 LADIES ANNE MICHELLE BURGUNDY BOOTS F50586NINE WEST BLACK BOOTS BUTTERY LEATHER SIZE 7mEMU AUSTRALIA PEMBERTON CASUAL SLIP ON SHOES HAZELNUT SIZE 6 NEW IN BOX , Seven Dials Womens Oriole Suede Closed Toe Ankle Cold Weather, Grey, Size 8.0Womens Madeen Girl Ankle High Brown Boots. Size 9. New. $49.99 RetailDizzy Womens P-Picabow Rubber Almond Toe Ankle Rainboots Black Size 8.0 1Q7E , Bruno Valenti Women's Black Leather Kneehigh Boots Heels Shoes - SZ 8 M 8M , $100 size 5.5 Alfani Venah Black Leather Heels Ankle Booties Womens Casual shoes , Matisse Rockland Boot - Women's Size 6.5M Black , ✿MIA HERITAGE Tan Suede Oiled Leather Straps 2.75" Heel Zip Boots 7.5 NEW! L@@K! , Bottes DORKING Cuir Marron T 40 TRES BON ETAT , Dark Brown Ladies Ankle Boots with Removable Fringe and Strap DecorationNine West Black Leather Knee High Womens Size 6.5 , BCBG BCBGeneration Sigmond Knee High Boots Black 5.5Unisa Womens Zali 2 Closed Toe Ankle Fashion Boots, Brown, Size 7.5 j0PH , CLARKS Women's Glick Darby Champagne Metallic Leather 6 M US , MARNI Shoes 131318 Brown 35NEW HOGAN WOMENS LOAFER US Sz 7, EU Sz 37.5NEW Earth Woodland Women 8.5M Loafer Shoes Bronze Leather Soft Step Comfort FlatDonald J Pliner RAVE-D Womens Sz 8.5 M Black Crepe Elastic Leather Shoe Slip OnNIB Vince Darlington Flat Women Size 5 , BEAUTIFEEL WOMEN'S LILOU DRESSY PUMP STRAP SHOE KITTEN HEELOpening Ceremony Leah Pearl Oxfords Black US 7.5/ , NEW! Women's $450 Stubbs and Wootton Linen "PALM TREES" Slippers Loafers Shoes , Clarks Ladies Smart Flat Shoes 'Candra Light' , Lacoste Carnaby EVO 317 & 417 SPW Leather Women Trainers in Navy Blue & Whitefun KEEN NEWPORT blue athletic washable bumper toe sport sandals shoes 7 , Nike Dart 10 Women's White/Pink Running Shoes Size 10, 580427-100Women's Puma Contact Sky High Green Hidden Wedge Sneakers. Size 9 , Life Stride Women's Charli Mary Jane Black PU Comfort Shoes ,
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
stuart weitzman Abierto localjoes-27710 7.5 Suede Abierto Cocoa Suede 1af22ff Boots
Powered by VIP.