NEW YORK/LOS ANGELES (Reuters) – Rebecca Sumrow is one of the customers food and restaurant company executives have in mind when they consider raising prices to offset higher costs as meat and milk soar to record highs.
The 30-year-old from San Clemente, California, was out of work for a short time last year and saved money by moving in with her boyfriend and cutting back on clothes shopping and dining out. Though she now has a good job working for an investment firm, she’s maintaining her frugal ways.
(Reuters) – Hillshire Brands Co said on Monday it would buy Pinnacle Foods Inc in a $4.3 billion deal that will combine its lineup of Jimmy Dean sausages and Hillshire lunch meats with Pinnacle’s Birds Eye frozen vegetables and Vlasic pickles.
Shares of Hillshire fell 5 percent after the announcement of the cash-and-stock deal, which analysts said dashed some investor hopes that Hillshire would be bought by a larger company.
May 8 (Reuters) – McDonald’s Corp reported global
sales growth at established restaurants for April on Thursday
that met expectations, as a rebound in Asia helped offset
disappointing sales in Europe and flat results from the United
The world’s biggest restaurant chain by revenue said
worldwide sales at restaurants open at least 13 months grew 1.2
percent last month, matching analysts’ average estimate,
according to Consensus Metrix.
NEW YORK (Reuters) – By Lisa Twaronite
TOKYO, April 30 (Reuters) – Asian shares firmed on Wednesday after earnings-fuelled gains on Wall Street, while the euro remained under pressure after weaker-than-expected German inflation data raised speculation of more easing in Europe.
Investors stayed cautious before central bank decisions from the Bank of Japan and then the Federal Reserve later in the session, as well as key U.S. jobs data on Friday.
(Reuters) – McDonald’s Corp (MCD.N: Quote, Profile, Research, Stock Buzz) is getting back to basics after a string of disappointing quarterly results in its home market of the United States, which accounts for 30 percent of overall revenue.
The fast-food giant has reported roughly two years of turbulent sales at established U.S. restaurants due to sluggish economic growth, stiffer competition and internal missteps that have complicated menus and slowed service.
April 17 (Reuters) – With the Chicago weather finally
getting a little nicer, Chris Anderssen wanted to grill some
burgers outside for a group of family and friends. When she got
to the meat aisle at her local Jewel-Osco supermarket, a case of
sticker shock made her change the menu: extra lean ground beef
was $4.99 a pound.
“Five adults, four teenagers, that’s a lot of hamburger to
buy,” said Anderssen, a 42-year-old mother of two who works as
an office manager. She bought chicken instead for $2.99 a pound.
April 17 (Reuters) – Chipotle Mexican Grill Inc on
Thursday said it will increase menu prices for the first time in
nearly three years, fueled by all-time high costs for steak as
well increasingly expensive avocados and cheese.
Shares of the popular burrito chain jumped as much as 6.5
percent on top-line results, but retreated 1.4 percent to
$544.68 in midday trading after executives said they expect food
costs to head even higher.
April 16 (Reuters) – The Vermont Senate passed a bill on
Wednesday that would make it the first U.S. state to enact
mandatory labeling of foods made with genetically modified
organisms, or GMOs.
Unlike bills passed last year in Maine and Connecticut,
which require other states to pass GMO labeling laws before they
can be enacted, Vermont’s contains no such trigger clause.
(Reuters) – The Vermont Senate passed a bill on Wednesday that would make the state the first in the United States to enact mandatory labeling of foods made with genetically modified crops.
“We are really excited that Vermont is going to be leading on this,” said Falko Schilling, a spokesman for the Vermont Public Interest Research Group, which backed the bill.
April 10 (Reuters) – Wal-Mart Stores Inc wants
Americans, even those on a budget, to buy more organic food.
The retailer that leads U.S. stores in grocery sales said on
Thursday it struck a deal to sell Wild Oats brand organic foods
at non-organic prices.