The Buzz
All markets and investing news all the time

Vince Camuto Jakayla Shoetie/Bootie 27792 Size 8, Size In Smoke Camuto Color f4fc0fd




Item specifics

Condition:
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: Vince Camuto
Style: Booties US Shoe Size (Women's): 8
Color: Gray

Vince Camuto Jakayla Shoetie/Bootie 27792 Size 8, Size In Smoke Camuto Color f4fc0fd - momosaddison.com

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Vince Camuto Jakayla Shoetie/Bootie 27792 Size 8, Size In Smoke Camuto Color f4fc0fd
Vince Camuto Jakayla Shoetie/Bootie 27792 Size 8, Size In Smoke Camuto Color f4fc0fd - momosaddison.com

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%.

Vince Camuto Jakayla Shoetie/Bootie 27792 Size 8, Size In Smoke Camuto Color f4fc0fd

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Vince Camuto Jakayla Shoetie/Bootie 27792 Size 8, Size In Smoke Camuto Color f4fc0fd - momosaddison.com
About This Author
Vince Camuto Jakayla Shoetie/Bootie 27792 Size 8, Size In Smoke Camuto Color f4fc0fd - momosaddison.com
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
Contributors
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
 
womens frye boots size 8 pre-owned , 02-3934 Joules Kids Printed Welly Rain Boot SIZE 7KEEN Dry Tall Brown Leather Winter Boots Womens 6.5 embossed Snow outdoor hiking , 02-3940 Naturalizer Cassandra Women's Pull-on Boots Black Leather SZ 9MColin Stuart Tan Ankle Boots Size 8.5 B Heels Gold HardwareFRANCO SARTO Brown boots Rustic Distressed Leather KEEGAN Ankle Booties 8 W WideJessica Simpson Boots Size 6.5 B , 02-3683 Sofft Women's Baywood Leather Closed Toe Ankle Riding Boots 9MRag And Bone Harrow Black And White Heel Ankle Western Buckle Boots Size 8BP. Women's 100% Gemuine Leather Pull-On Beige Boots, Size 6.5 , White Mountain Size 8.5 Black Suede Shoe BootieSporto Women's Tan/Brown Leather Outsole Classic Christina Duck Boots Size 10CEDAR & SPRUCE WOMEN SUEDE LEATHER BOOTS SAMPLE SHOES TAN SIZE 6 (P65)VTG MISS CAPEZIO Cowboy Western Boots Reddish Brown Women's 6 M USA , J Jill Gray Booties Size 9.5 Leather BootsSONOMA LIFE & COLOR VIOLABROWN WOMEN BOOTS SIZE 8.5Womans Pour La Victoire Red Bissit Bootie 10 MSpring Step Cardanom Brown Leather Ankle Boots Women’s Sz 8.5/39 Zip , Vintage White Doc Martens, 8 Holes, Boots, Size 5 (8), Mint , Franco Sarto Kelton Gray Suede Leather Side Zip Ankle Boots US 6.5 M , Poppies Black Granny Boots Leather 9B steampunk , 02-1507 CHINESE LAUNDRY KRISTIN CAVALLARI BRANDIE KID SUEDE BLACK SZ 8.5 , Tommy Hilfiger Women’s Black Leather Knee High Boots Size 8.5 M Free Fast ShipBanana Republic Shoes men’s Gray 11 1/2 Felix Nwb , DONALD J PLINER 'Paige' Ankle Black Leather Boot Women's Size 6MSteve Madden Platform Wedge Knee High Suede Boot - Madden Girl02-4013 Carlos BY Carlos Santana Women's Brie Ankle Boots Siz 7.5MEUC FRYE COGNAC BOOTS..GORGEOUS COLOR SIZE 7NEW Womens Wide Footbed Buckle Low Cuban Heel Short Calf Ankle Booties Size 5-10
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 American Rag New Womens Wylee Black Ankle Boots 5.5 M ShoesWomen's Jaclyn Smith Black Knee High Boots size 10M02-566 Women's Steven By Steve Madden Bennett Booties size 7.5Dolce Vita Shootie / Bootie (Size 8.5) , Asolo AFX 535 Women's Size 7.5 Brown Leather Hiking Ankle Boots Vibram SolesIKRUSH Womens Kim Peep Toe Knee High BootsAsh Brand Biker VinBrown DistressedLeather Classic Boots Italy 36/6 Mid Calf , Womens Cowboy Boots Brown Faux Lizard Indie Cowgirl 7 7.5 Mexico Size 24.5 VTGAndré Assous Milan Tall Over Knee Boots Size 6.5 Black Leather Water Resistant , Arturo Chiang Fedra Coffee Brown Leather Ankle Boots 6.5R2 Footwear Womens NWB Mackenzie Brown Boots Shoes 6 MED NEWBandolino Womens Ed. Leather Ballet Flat- Select SZ/Color. , Born Womens Baily Leather Almond Toe Ankle Fashion Boots Black Size 7.0 vIAc , Boot Blowfish Daphna Black Embossed Fawn PU54% OFF NEW TEVA Foxy Mid Boot Bison Brown Nubuck sz 7.5, 8, 9 Ret. $150Andrew Charles 7502 SOFTY DARK VIOLET Loafers Women's Purple USAgl Attilio Giusti Leombruni Beige Ankle Sandal Shoe 37 , Kenneth Cole REACTION Women's Gen-ie Bottle Glitter Ballet Flat W/ Feather PomDansko Professional Black Metallic Suede US 12 $130 New In Box , Calvin Klein Dayo Oxford Flats 596, Dark Silver, 11 US / 41.5 EUNike Women's Free Running Shoe Size 10 , SPRING STEP PRO SELLE-B-M - SELLE Size: - Color: , Soft Style by Hush Puppies Women's Hadie FlatScholl Orthaheel Yale Womens Comfort Supportive Leather Moccasin Shoes , Saucony Men's Excursion Tr11 Running Shoe - Choose SZ/ColorNew FILA Disruptor II 2 Unisex Sneakers Athletic Shoes - White/Pink(FS1HTZ3074X)Nike Women's Huarache Premium ID Hot Lava-Black SZ 7 [777331-994] , Puma Tazon 6 FM Athletic Sneakers, Women's Size 8, Black/PinkWomen's Manolo Blanhnik Flats FlatsImpo Womens Osie Fabric Closed Toe Ankle Fashion Boots, Black, Size 6.5 3fIf ,
 
University of Phoenix is the latest college under investigation
 
Latest Buzz Videos
See all videos
Vince Camuto Jakayla Shoetie/Bootie 27792 Size 8, Size In Smoke Camuto Color f4fc0fd Boots
4769828
6351605
7579937
7598899
8632166
11073703
11604671
13555699
16063120
Powered by WordPress.com VIP.