Check Out Line: Value is still in
Check out the consumer thriftiness still reflected in corporate announcements.
McDonald’s, the world’s largest hamburger chain, posted a higher quarterly profit that beat analysts’ expectations.
It also said April same-store sales were trending at least as strong or better than first-quarter sales in every part of the world.
The fast food giant has benefited from consumers cutting back amid the recession as they look for lower-priced fare, including the company’s Dollar Menu items.
McDonald’s Chief Executive Jim Skinner said last week that the financial climate was improving, citing “some thawing.”
The world’s second biggest retailer, Carrefour, wants in on that action. The French company unveiled its own low-cost brand to compete for increasingly cost-conscious customers. The products, mostly food, will be launched in France starting at the end of May.
On the other end of the spectrum, Kimberly-Clark, the maker of Kleenex tissues and Huggies diapers, reported a lower quarterly profit that was pressured by weaker demand for higher-end products.
Also in the basket:
Altria 1st-quarter profit beats estimates
Pepsi Bottling profit tops view
Heineken Q1 volumes hit, downturn impact unclear
LVMH denies in talks to sell Moet Hennessy
Electrolux posts Q1 core profit as cost cuts boost
Nestle sales hit by currency, confirms outlook
(Reuters photo)
