The Buzz
All markets and investing news all the time

Merrell Riveter Knit Women's Loop Women's 25%OFF Size 24599 7 Black 25%OFF 172024d

Item specifics

Condition: New without box :
A brand-new, unused, and unworn item (including handmade items) that is not in original packaging or may be missing original packaging materials (such as the original box or bag). The original tags may not be attached. For example, new shoes (with absolutely no signs of wear) that are no longer in their original box fall into this category. See all condition definitions- opens in a new window or tab
Seller Notes: These shoes are brand new. They are manufactures reps sales samples that are in mint condition.
US Shoe Size (Women's): 7 Brand: Merrell
Color: Black Style: Low Top
UPC: Does not apply

Merrell Riveter Knit Women's Loop Women's 25%OFF Size 24599 7 Black 25%OFF 172024d -

Americans love Corona, but is it paying off for investors? April 9, 2014: 11:06 AM ET
Merrell Riveter Knit Women's Loop Women's 25%OFF Size 24599 7 Black 25%OFF 172024d
Merrell Riveter Knit Women's Loop Women's 25%OFF Size 24599 7 Black 25%OFF 172024d -

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%.

Merrell Riveter Knit Women's Loop Women's 25%OFF Size 24599 7 Black 25%OFF 172024d

Now who needs a lime?

Join the Conversation
Follow CNNMoneyInvest
Fear & Greed
Sponsored by
Merrell Riveter Knit Women's Loop Women's 25%OFF Size 24599 7 Black 25%OFF 172024d -
About This Author
Merrell Riveter Knit Women's Loop Women's 25%OFF Size 24599 7 Black 25%OFF 172024d -
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
2Star Gold IT Shoes Women's 41 High-Top Silver , NEW! Under Armour 1298664-003 Womens Charged BANDIT 3 Black/White 100O aa2Star Gold IT Shoes Women's 36 High-Top Black , T.U.K Kitty Embroidery Mary Jane Womens Black Suede ShoesNIKE Women's Free 5.0 Print Noble Purple/Summit White/Pink Running Shoe 5.5 W...Skechers Ez Flex 3.0 Quick Escapade Shoes Grey Women 23441-GRYAdidas Terrex Choleah Padded CP Women's Boot S80748 Size 8.5 , 2Star Gold IT Shoes Women's 37 High-Top Blue2Star Gold IT Shoes Women's 37 High-Top BlackPropet Women's TravelFit Wide Strap Sneaker Black Mesh Slip-Resistant (Non-Skid) , Nike Air Force 1 HI PRM Women's Fashion Shoe 654440 401 Size 10.5 , 2Star Gold IT Shoes Women's 39 High-Top Blue2Star Gold IT Shoes Women's 35 High-Top BlackAdidas Duramo lite Women's Running Shoe BB0886 Size 9NIKE ROSHE TWO CASUAL WOMEN's BLACK - SAIL - ANTHRACITE - VOLT - WHITE SIZE 6REBECCA MINKOFF Becky White Leather Embellished Leather Loafer Sneaker SZ 7 NEW , SAS Womens Free Time, Black, Size 10.0 4OoiWomens ASICS E350Y Gel-Resolution F140912 White Athletic Shoes Sz 12 NWOB , Nike Free 5.0 TR Fit 4 Women's Running Shoe 629496-102 Size11 , Brooks Chariot 120171-1B-685 Cream Red Heritage Casual Shoes Medium (B, M) Women , Shoes Skechers Ez Flex 3.0 Quick Escapade Grey Women 23441-GRYNew Puma 189938 06 Speed Ignite Netfit Cosmo Women's Running Shoes 6.5 USNike Flex Fury Women's Running Shoe 705299 009 Size 7.5 , GIORGIO BRATO Shoes 958004 Grey 40 , NIKE AIR MAX 1 ULTRA SE ATHLETIC SHOE WOMEN SIZE 7Occident Women Thick Bottom Casual Sequine Shiny Rhinestone Creeper Shoes Sbox14 , Converse Women CTAS Dainty Canvas 553419C Sneakers Polar Blue RRP BCF74 , Skechers Breathe Easy Jackpot Ladies Sneaker Shoes Memory Foam 22532-WHT New , Allrounder by Mephisto 8.5 Black Niro Mary Jane Flat Women's
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 Cliffs White Mountain Felisa Flat Knee-High Boots 660, Black, 6.5 US , Naturalizer Brown Boots SZ 7.5 Leather Low HeelSnake Print Open Peep Toe Side Cutout Flats Booties Shoes Cut Out Sandals WomensMARC FISHER Prenna Brown Suede Leather Slip On Mule Peep Toe Size 10 NIB $89Womens Dirty Laundry Rubber Boots Waterproof LIned Alligator Pattern Size 8 , Michael Antonio Women's Myan Boot, Steel, 6.5 M US , Womens Red Flat Slouch Round Toe Sexy Knee Boot Size 7.5Cole Haan dark dark dark brown leather Ankle boots Sz 10 MED.New Steve Madden Thunda Women Fleece Rain Boots Size 7 , VINCE CAMUTO Ankle Boots Black Suede Zip Wedge Heel Booties Size 9 M / 39 HAMIL , Women Embroidery Fringe Tassels Ankle Boots Feather Platform Snow Boots shoes , R25 Versace Genuine Fox Fur Cuff Black Leather Pull On FoldOver Boot Women Sz 39NEW Cole Haan Women’s Brown Suede Leather Heel Ankle Booties Boots Sz 10.5 BFranco Sarto Women's Wayra Zip Bootie - Black Size US 5.0 - New PRICE REDUCED ‼️Women's Sam Edelman, E6362F1020, Paloma Boots, Dark grey Suede, , Fratelli Rossetti Brown Woven Oxford Leather Shoes WomenSize Retail $350++ , Naot Alma Wedge Heel Mary Jane Shoes, Women's - Size (US 9), BrownWomen's Agl Buckle Strap Flat Mule, Size 9.5US / 39.5BlackTORY BURCH Gold REVA Ballet Flats Women's Shoes Size 8MIsola Black Bow Toe Studded Suede Ballet Flats~7MThe Fix Women's Daphne Satin Fringe Loafer Flat, Autumn Green Camo, 9.5 B US , Cole Haan Air Beau Mary Jane Zebra Print Pony Hair Patent Leather Accent 7.5B , AQUAZURRA Women's Christy Rose Gold Sequin Tie Ballerina Flats Sz 38.5 8.5 $790 , Saucony Women's Freedom ISO Running Shoe, Blue/Citron, 10 B(M) USAdidas Women's Distancestar W Running Shoes W/ Spikes - Choose SZ/Color , Women's Wildcat Black FS/NY Flat FlatsWomen's BOTTES FEMMES PATAUGAS POINTURE 39 BootsWomens Faux Suede Pointy Toe Buckle Ankle Strap Party Dress Pumps Shoes Sizes 40Womens Sequins Muffins Platform Bling Casual Sneakers Occupational Flat ShoesSkechers Sport 23432 Womens E Z Flex 3.0 Swift N Sly Fashion Sneaker
University of Phoenix is the latest college under investigation
Latest Buzz Videos
See all videos
Merrell Riveter Knit Women's Loop Women's 25%OFF Size 24599 7 Black 25%OFF 172024d Athletic Shoes
Powered by VIP.