Shop Talk

Retailers, consumers and prices

Check Out Line: Earnings-palooza!

August 12, 2009

macys1Check out all the earnings in the consumer world.

Several retailers and food companies posted quarterly results, offering different views on where they stand in a recession that has consumers dialing back spending.

Macy’s posted a better-than-expected profit as it cut costs, but the department store operator’s new, higher earnings forecast shows full-year profit could still fall short of analysts’ expectations.

Sara Lee, the maker of baked goods and Jimmy Dean sausage, also reported a stronger-than-expected profit before one-time items on improvements in North America and said it was still considering divesting its international household and personal care business.

Underwear maker Maindenform also saw a profit that topped expectations, thanks largely to strong demand for its shapewear products, and raised its full-year outlook.

However, Liz Claiborne, owner of the Juicy Couture, Kate Spade and Lucky Brand chains,  posted a deeper-than-expected quarterly loss as the recession kept many shoppers from buying the company’s clothing and accessories.

Also in the basket:

Escada future uncertain as insolvency nears

Ackman alters Target stake, sticks with retailer

Walgreen in Delaware Medicaid plan, suit continues

Warnaco misses Street target by penny, ups outlook

Choice Advice From Meat Cutters (Wall Street Journal

(Reuters photo)

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