Check out the latest better-than-expected earnings, this time from Campbell Soup and Tyson Foods.

It looks like food investors may have plenty to be thankful for when they sit down to their Thanksgiving tables later this week.

Campbell’s first quarter profit came in well ahead of analysts’ expectations.  The soup maker also said its full-year profit and sales should be stronger than it had expected.  In September, Campbell forecast adjusted earnings per share growth of 5 percent to 7 percent.  Now, just one quarter into the year, it expects adjusted earnings per share to jump 9 percent to 11 percent.

Tyson Foods, the world’s largest meat producer, posted a net loss.  But excluding an impairment charge it earned 28 cents per share, topping analysts’ expectations by 2 cents.  Revenue came in a little bit higher than last year, and well ahead of analysts’ projections.

We’ll hear more about food tomorrow, when Heinz and Hormel issue their quarterly reports.

Also in the basket:

Cadbury hits new high as bidders circle

“Black Friday” deals may not signal retail comeback

Michael Jackson’s glove sells for $350,000 at auction

Forever 21 Launches Beauty Line (WWD, subscription required)

(Reuters photo)

Who says people have to dress frumpy or dowdy in a recession?

Apparently not Chico’s FAS.  The mature women’s chain, which operates Chico’s, White House/Black Market and Soma Intimates chains, has made major strides in making its merchandise more fashionable in the past year, and has been rewarded with stellar results in the third quarter and shares that are up eightfold in the last year.

The move towards trendier– dare we say, sexier – clothes helped sales this autumn  rise 13.3 percent and allowed the chain to win market share while rivals such as Talbots and Clearwater Coldwater Creek continued to struggle. (A year and a half ago, U.S. gold medalist Michael Phelps’ mother Debbie boasted that her Olympics’ wardrobe at the Beijing Games came from Chico’s.)

Chico’s took advantage of Vogue editor Anna Wintour’s glamorous “Fashion Night Out” this fall to open a store in Manhattan’s SoHo district. And last year, the chain won national attention in 2008 when First Lady Michelle Obama wore a dress from a White House/Black Market store during on an appearance on the talk show “The View.”

The firm is apparently not done with its makeover: it is planning to open about 40 new locations of its lingerie chain Soma Intimates in 2010 and offer more risqué items,  Chief Executive Officer David Dyer hinted on a call to analysts on Wednesday.

“We’re making great strides in our merchandise assortment for Soma, not only through our Soma touch and Soma solutions, but we’re also adding a layer of sensual, sexy merchandise that will infuse emotion and excitement back in the brand,” Dyer said.

But he left what, exactly, those new sexy products are to our imagination.

(PHOTO: Michael Phelps and his mother Debbie in Los Angeles July 15, 2009. REUTERS/Danny Moloshok )

Check out Macy’s disappointing fourth-quarter forecast.

Apparently, the Thanksgiving Day Parade may be the highlight of the quarter.

The department store chain operator forecast fourth-quarter profit below analysts estimates and its shares fell Wednesday morning.

The retailer also expects same-store sales to drop 1 percent to 2 percent in the quarter.  While that is less of a decline than the full year, it is also off a pretty easy comparison.  Same-store sales fell 7 percent in the year-earlier fourth quarter, when the country was waist deep in a recession and credit crunch.

Macy’s, which grew through acquisitions into a national brand, has shifted its focus to offering local items in specific markets in order to try to boost sales.

So far, that might have staunched the bleeding.  But most department stores are still out of favor as consumers stay at shops like Wal-Mart in order to save money.

But hey, Wal-Mart doesn’t have the cool balloons in Manhattan in November, does it?

Also in the basket:

Wal-Mart to offer $100 gift card on BlackBerry purchases

Flowers Foods Q3 sales miss estimates, cuts FY view

Best Buy’s international CEO to retire

Luxury brands step up expansion in China (WWD, subscription required)

(Reuters photo)

Check out the mixed messages about the U.S. economy from the various consumer earnings.

Like any other earning day nowadays, it’s pick your poison on whether you want to focus on the good news or the bad news when it comes to whether the economy is improving.

Watchmaker Fossil reported a stronger-than-expected third-quarter profit and raised its profit forecast for the fourth quarter, sending shares up. And clothing retailer American Apparel also posted a profit above analysts’ expectations and said it saw signs of momentum in sales.

Meanwhile, InterContinental Hotels, the world’s biggest hotelier, said it was too early to forecast a recovery as room rates continued to fall due to cutbacks by business travelers. The group, whose brands include InterContinental, Crowne Plaza and Holiday Inn, and which earns 70 percent of its profit in the United States, said occupancy is stabilizing but room rates are under pressure across the board.

For what it’s worth, top forecasters are growing more confident the U.S. economy has embarked on a sustainable recovery, according to a survey. However, a report last week showed the jobless rate jumped to a 26-1/2 year high of 10.2 percent in October.

Also in the basket:

PREVIEW-AB InBev Q3 profit growth seen slowing

Yum India aims for $1 billion sales by 2015

Firms Loaded With Cash in Position to Diversify (WWD, subscription required)

(Reuters photo)

Check out Estee Lauder’s profit coming in well ahead of raised expectations.

Sure, we should have expected that.  After all, the cosmetics maker said two weeks ago that its fiscal first-quarter profit would be “significantly higher than previous guidance” due to a variety of factors.

Apparently Estee Lauder management, including CEO Fabrizio Freda, has a different understanding of “significantly” than Wall Street.

The company’s old forecast was 23 to 30 cents per share.  So, after the brighter tone came on Oct. 16, analysts’ average forecast ticked up from 25 cents to 34 cents, based on Thomson Reuters I/B/E/S data.

How did Estee Lauder do?  Try 85 cents.  That’s what the company posted on Friday.

Also in the basket:

Simon Property Group third-quarter FFO rises

Horror video games scare up record sales

Walmart.com glitch keeps shoppers from checking out

Drop the Halloween Mask! You Might Scare Somebody (NY Times)

(Reuters photo)

Check out this morning’s lineup of quarterly results.

Hershey said price increases helped offset rising cocoa costs, but was silent on the biggest news in the chocolate world — will Cadbury be acquired?

Meanwhile, cigarette makers Philip Morris International and Reynolds American topped expectations and raised their full-year forecasts.

Who else did the same thing?  Kimberly-Clark.  It wasn’t sales of Kleenex tissues that drove its better than expected results.  The company got a boost from sales of face masks as H1N1 takes hold.

Hungry for more?  How about results from McDonald’s?  The fast food giant said sales rose in all regions, and it expects sales at existing locations to remain positive in October.

Still craving earnings?  Stay tuned this afternoon, when we’ll hear from Chipotle, Cheesecake Factory and Amazon.com.

Also in the basket:

Bunge posts lower profit, cuts outlook

Time to trim Fido’s “eco pawprint”, authors say

More Americans plan to delay retirement, surveys show

Procter & Gamble said to consider Sara Lee brands (Bloomberg)

Check out cost cuts at Tiffany.
 
it is (was?) a recession and people aren’t buying as much expensive jewelry. Sales at Tiffany fell 16 percent in the latest quarter.
 
But even though profit also fell almost 30 percent, Tiffany shares still rose.
 
Cost cuts helped Tiffany beat analyst expectations. The company said SG&A expenses fell 14 percent. It’s also slowing its pace of store openings because of the recession.
 
“Breakfast at Tiffany’s?” Right now, it might be an Egg McMuffin and coffee from the deli on the corner.
 
Also in the basket:
 
Consumer spending lifted by “cash-for-clunkers”
 
L’Oreal H1 beats forecasts, ready to make purchase

(Photo: Reuters)

Check out the Retail Metrics earnings snapshot.

About two-thirds of the way through the second-quarter earnings season, retailers are beating earnings expectations by 5.1 percent on average, the research firm said.

But those were pretty low expectations and earnings are still down 6.4 percent compared with a year earlier. It is even worse when Wal-Mart is excluded. Then earnings are down 9.8 percent, Retail Metrics said.

Revenue is also down 2 percent.

With 83 retailers reporting, 41 percent had year-over-year earnings gains and 57 percent had declines.

Auto parts, drug and apparel retailers were among the groups seeing earnings gains, while teen apparel, department stores and home building supply stores were among the worst performers, Retail Metrics said.

Also in the basket:

Chico’s profit rises,  meets street view

Staples profit falls; says won’t give outlook

Burger King profit rises

Borders posts wider-than-expected loss

(Reuters photo)

Check out the lack of interest in pens and purses.
 
Retailers as varied as Coach and Office Depot reported lower quarterly sales, continuing to show that despite some forecasts that the recession may be at an end, consumers are cutting back on just about everything.
 
Coach sales fell 1 percent and profit, excluding one-time items, dropped 21 percent.
 
Sales at Office Depot fell 22 percent and the company posted a wider than expected loss, sending its shares down 14 percent.
 
Oh, and it isn’t just office supplies and fancy bags consumers are cutting back on.
 
Grocery chain operator Supervalu reported a 4.5 percent drop in quarterly sales as it cut prices to try to keep consumers from going to stores like Walmart.
 
Economists are looking for “green shoots” everywhere these days, but the consumer still doesn’t seem to be buying it … or anything.
 
Also in the basket:
 
CIT courts creditors, plans large debt exchange
 
Under Armour posts surprise second-quarter profit
 
PepsiAmericas Q2 profit beats estimates, ups FY outlook
 
Italian group makes offer for Christian Lacroix (N.Y. Times)
 
(Reuters photo)

Check out the better-than-expected profits at Alberto Culver, Lorillard and RadioShack.

Alberto Culver, the maker of VO5 shampoo and Mrs. Dash seasoning, said its third-quarter profit, excluding one-time items was 30 cents a share, a penny above what analysts had expected, thanks to strong demand for its TRESemme shampoo.

Cigarette maker Lorillard earned $1.71 a share in its second quarter, easily topping the $1.43 Wall Street was expecting, as it boosted prices and its market-share. It also OK’ed a new $750 million stock-buyback plan.

Electronics retailer RadioShack’s second-quarter profit was 39 cents a share — 10 cents above forecasts — on lower costs and improved sales of netbooks, prepaid wireless handsets and digital TVs.

Nielsen said global consumer confidence remains subdued but has risen slightly since March, notably in Asia and Brazil, on the belief an economic recovery may be in sight, according to a survey by the firm. However, U.S. consumer sentiment was unchanged with those consumers ranking only 17th most confident among 28 markets surveyed.

Also in the basket:

THQ prevails in Jakks Pacific arbitration dispute

Wave of Store Closures Expected (WWD, subscription required)

(Reuters photo)