Retailers, consumers and prices
Check Out Line: Lowe’s sees better days, Campbell, not so much
Check out U.S. demand for remodeling projects rebounding while the appetite for soup cools.
Rob Niblock, CEO of Lowe’s, said “the worst of the economic cycle is likely behind us” as the home improvement chain reported better-than-expected quarterly results thanks to higher lumber prices and demand for appliances. The chain is optimistically forecasting a sales rise in 2010.
Apparently there is less pent up demand for soup, despite an especially cold winter that at one point last week saw 70 percent of the US landmass covered in snow. Campbell’s reported soup sales fell 8 percent with pricier soups hit hardest as it fell behind in a face-off with frozen dinners offered by other processed food makers.
Also in the basket:
- TreeHouse Foods to offer $100 million common shares
- In emerging markets push, follow the freezer
- Lots of products, but are people ready to pay?
- Pepsi, Kellogg top investor lists in consumer goods