Retailers, consumers and prices
Check Out Line: America’s still got to eat
Check out those popular fast-food chains.
Global sales at McDonald’s restaurants open 13 months or more jumped 7.7 percent in November. Same-store sales rose 4.5 percent in the United States, where bargain hunters enjoy the Dollar Menu. In November 2007, U.S. same-store sales rose 4.4 percent.
Of course, not everything can be bought for a buck. McDonald’s recently raised the price of the Double Cheeseburger to $1.19 and brought out a $1 sandwich called the McDouble with one less slice of cheese.
Meanwhile, Wendy’s/Arby’s got a boost from major shareholder Trian Partners. After a strong response to its tender offer, Trian is poised to hold a 21.6 percent stake in the restaurant company, up from 11.1 percent.
Also in the basket:
Teen retailer Hot Topic expands music focus (Billboard via Reuters)
U.S. apparel suppliers dwindling (WWD, subscription required)