Check out all the wine drinking going on.

Two-thirds (67 percent) of Americans surveyed said they partake in wine on holidays and special occasions while at home, while another 58 percent drink wine at home with dinner on an ordinary night, according to consumer trend tracker Mintel.

The wine market has grown 20 percent from 2004 through 2009 despite the recession, but at the peak of the slowdown in 2008 it declined 3.2 percent, Mintel said. With consumers slowly feeling better about the economy, the firm expects the wine market to increase by 2.1 percent this year.

“The future of the wine market looks bright, at least for moderately priced segments,” Mintel senior food and drink analyst Sarah Theodore said in a statement. “Value wines have helped consumers rethink their perceptions about wine.”

And how does wine stack up vs beer?

Mintel said so far this year nearly half (47 percent) of survey respondents say they drink beer compared to 35 percent who drink imported and domestic wines. Champagne and sparkling wines are next at 17 percent, followed by port, sherry and dessert wines at 7 percent.

Certainly wine was on the minds of analysts and executives on Hormel’s earnings conference call on Tuesday.

Hormel, whose foods include Jennie-O turkeys, usually reports its fiscal fourth-quarter results days ahead of Thanksgiving. During Tuesday’s call, Credit Suisse analyst Robert Moskow asked a follow up question — well, really, he gave more of a plea.
 
“I’m just trying to encourage Tim Ramey to call in with a wine selection for Thanksgiving,” Moskow said, referring to a D.A. Davidson analyst, who also follows Hormel and has offered wine pairings with Hormel foods on the call in the past. 
 
“It’s a Thanksgiving tradition. I don’t know where Tim is today,” replied Hormel CEO Jeffrey Ettinger.
 
“Don’t you guys have anything you can throw out our way? I’m more of a Diet Coke fan,” joked Moskow.
 
“I think just as long as you go with a Jennie-O Turkey, or a Cure 81 ham, we have that part of the meal covered,” Ettinger said.
 
When the call wrapped up, Hormel’s director of investor relations, Kevin Jones, offered up some pairing advice. “In response to Rob’s question, a good new Beaujolais, a Chardonnay, or Pinot Noir will go very well with a Jennie-O turkey, and either a Pinot Grigio or Riesling with the Cure 81 ham.”

Rising wine consumption goes nicely with reduced salt intake. Last week, Mintel said in its predictions for consumer packaged goods in 2010 that sodium reduction was poised to be the next big health push.

Also in the basket:

British union to meet Kraft over bid for Cadbury

Tiffany profit beats; view raised ahead of holiday

Wal-Mart has not applied for retail stores-India minister

Starbucks eyes China as next major market

Cheap and Cheerful for the Holidays (New York Times)

(Additional reporting by Jessica Wohl)

(Reuters photo)

Check out the expected increase early next year in import cargo volume at U.S. retail container ports.

The numbers could rise year-over-year in February, for the first increase in more than two years, according to the monthly Port Tracker report released by the National Retail Federation (NRF) and IHS Global Insight.

“This could be the turnaround we’ve been waiting to see for a long time,” NRF Vice President Jonathan Gold said in a statement. “There’s not enough data yet to establish a clear trend, but we’re hopeful that this is a sign of recovery.”

U.S. ports surveyed handled 1.14 million Twenty-foot Equivalent Units (TEU) in September, the most-recent month for which actual numbers are available. That was down 3 percent from August and 16 percent from September 2008.

Volume for October, traditionally the peak month of the year, was estimated at 1.17 million TEU, down 15 percent from last year, according to the survey. November, December and January are forecast to be down 11 percent, flat and down 3 percent, respectively.

However, February, the slowest month of the year, is forecast to report cargo of 973,872 TEU, which would be a 16 percent increase over February 2009, while March is expected to show a 5 percent increase at 1.02 million TEU, according to the survey.

“The second half of 2009 has continued to see declines from 2008’s levels, but not as large as we saw during the first half of this year,” IHS Global economist Paul Bingham said. “These ‘less bad’ numbers are evidence that the industry is seeing early signs of recovery.”

Also in the basket:

Heinz profit falls, raises full-year view

Zale posts wider loss on weak jewelry demand

Hormel 4th-qtr profit jumps despite sales decline

American Eagle posts in-line 3rd qtr profit

Dollar Tree profit beats estimates

Carl’s Jr. restaurants serving Coke’s vitaminwater

(Reuters photo)

What is sticky, shaped like a fish and helps Japanese people shrug off the lingering effects of the country's worst recession since World War Two?

The economy is struggling but sales of a traditional, fish-shaped sweet snack are going along swimmingly, thanks to its low price and auspicious name.

Taiyaki, which means baked sea bream, is a pancake stuffed with a sweet bean jam and served hot and cheap in stalls all over the country.

The name helps. "Tai", Japanese for sea bream, sounds similar to the word for happiness.

With a price tag of as little as 130 yen ($1.45), the snack, which celebrates its 100th anniversary this year, is making a lot of people happy -- including those needing a job as the stalls are easy to get going. 

"Taiyaki has been around from ancient days but I still want to eat one once in a while," Masako Kano, a 69 year-old housewife queuing outside a new store, told me. "Compared to other cakes, which normally cost around 200 yen to 300 yen, its price is attractive."

Fancy Corporation recently opened its 45th taiyaki outlet in Kawasaki, just south of Tokyo, saying the cheap snack is as popular as ever in tough times. 

"In this economic environment, customers prefer products that are low-priced, safe and reliable. I think that's why the number of our stores is growing," says company spokeswoman Eriko Yano.

Japan's snack industry association says sales of expensive confectionery is waning, leaving more room for the little treats in life.

"I think the taiyaki boom has to do a lot with the capability that you can buy one or two pieces at a time. The decrease in our income has been serious," 76-year-old Michiko Hoshi told me as she queued up to buy the snack.

Photo credit: REUTERS/Yuriko Nakao

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 what women buy when they get tired of being a frugalista: boots, plaid and outerwear. 

Those were some of the products that helped October U.S. retail sales improve from a year ago, when the unfolding financial meltdown had shoppers fearing a second Great Depression.

“Frugal fatigue is setting in,” said NPD Group analyst Marshal Cohen. After a year of scrimping, he added, the numbers suggest that some women are going in for a little retail fix.

“Women (not only moms) are shopping their closets, discovering new and fresh looks and filling in with some key updates,” he said.

But selective shopping is not enough to ease worries about the all-important holiday sales.

Thomson Reuters research shows that while October sales rebounded, results from individual retailers were mixed.

Also in the basket:

Warnaco beats estimates; Liz Claiborne misses

Children’s Place October same-store sales beat estimates

CVS says won’t meet pharmacy benefits view in 2010

US commercial real estate to bottom in 2010-survey

Productivity at 6-year high, jobless claims fall

Wine sales at restaurants and bars are falling as diners trade down to less expensive options or skip wine altogether to save a buck.  But some restaurants are cooking up contrarian strategies to squeeze sales from the vine.

California Pizza Kitchen took its wine list more upscale and wine sales followed.

The pizza chain launched the new wine list on Oct. 5. It includes Cakebread Cellars Chardonnay, La Crema Pinot Noir and Stags’ Leap Merlot for around $10 a glass.

“This is us going back to our roots. When we first opened CPK, (in 1985) part of the concept was we that we would have familiar wines at unfamiliar prices,” said Rick Rosenfield, CPK’s co-chief executive officer.

Morton’s steakhouse, on the other hand, is working the downturn in fine wine prices to its advantage.

It is hitting auctions as luxury restaurants clear cellars and striking exclusive relationships with wineries like Charles Krug, Gundlach Bundschu and Liverano when they have unsold premium wine.

Its limited-time Krug 1881,  which sells for around $13 a glass, is the restaurant’s top-selling Cabernet, said Tylor Field, Morton’s vice president of wine and spirits.

While wine sales at retail continue to outpace those in restaurants, Charles Krug’s Peter Mondavi Jr said the winery recently has made inroads at restaurants like  Smith & Wollensky, Roy’s and Landry’s.

(Photo/Reuters)

Check out the probable lower level of tips for service providers during the holidays.

Chalk up tips for cleaning people, school teachers, barbers, mail carriers and others as another probable victim of the weak U.S. economy, according to a new poll conducted by Consumer Reports magazine.  

The magazine polled Americans about their tipping habits during the 2008 holidays and again in October and found 26 percent of Americans who usually tip or give a gift to a service provider said they would spend less this holiday season. Just 6 percent planed to spend more.

“Families are looking for ways to balance their financial concerns with the need to thank people who have helped them during the year,” Tobie Stanger, senior editor at Consumer Reports, said in a statement. “This year, tipping is more of a challenge than ever, but CR’s survey shows that people are still trying to do it, for the most part.”

The average value of tips (i.e. some were gifts instead of cash or gift cards) varied by occupation, with a cleaning person at $50, a child’s teacher and a hairdresser at $20, and a manicurist at $10, according to Consumer Reports.

Some readers told the magazine they plan to still say thanks with a card or homemade gift.

Also in the basket:

Food the focus as Wal-Mart starts holiday giving

Kraft quarterly results could make a case to Cadbury

ADM profit soars past Wall Street estimates

Polo 2nd-qtr profit tops Street view

Walgreen October sales up a bit more than expected

Energizer quarterly profit falls

(Reuters photo)

Talk about a disconnect.

Experts say U.S. economic growth has returned, signaling the end of the longest and deepest recession since the Great Depression.

But the good news for Wall Street — where shares have been running up — is showing no signs of trickling down to Main Street, where unemployment is flirting with 10 percent, foreclosures continue to rise and record numbers of families now depend on government-issued food stamps to make ends meet.

“For every person out of work, for every family facing foreclosure, for every small business facing a credit crunch, the recession remains alive and acute,” U.S. Treasury Secretary Timothy Geithner said in testimony to a congressional committee.

“Many people you might have called middle class or working class before have been ground down toward poverty or even destitution,” said author Barbara Ehrenreich, who has chronicled America’s working poor during her career.

While most Americans either fret about a job loss or deal with the financial devastation of joblessness, the income gap between the super rich in the United States and the average Joe is the largest since the 1920s. Nearly one-sixth of the U.S. population is uninsured. And, contrary to popular belief, Americans are less likely to move to a higher financial status than people who live in “socialist” countries like Germany, Canada, France or Sweden.

Many economists, who warn that the U.S. economy is in for a “jobless recovery,” caution that the turnaround is on fragile ground.

“Sure the economy’s standing up on its own legs again, but for how long once the government stimulus starts to fade?  That’s the million dollar question for the nation’s unemployed, all 15.1 million of them sitting idle through no fault of their own,” said Chris Rupkey, an economist with Bank of Tokyo-Mitsubishi in New York.

“We’ve got a long way to go,” U.S. President Barack Obama said.

(Additional reporting by Emily Kaiser; Reuters photo)

Check out the tale of two cities in the retail world.

We are in the heart of the earnings season and every day brings reports that offer grist for both sides of the argument about whether the recovery has begun.

For the optimists, we have sports clothing and footwear maker Under Armour, which posted a stronger-than-expected quarter and raised its outlook, and yoga clothing and athletic gear maker Lululemon Athletica, which raised its forecast.

Meanwhile, DineEquity, home of the Rooty Tooty Fresh ‘N Fruity breakfast at IHOP, topped Wall Street’s expectations due to lower costs, and better sales and more efficient staffing allowed outdoor gear retailer Cabela’s to post stronger-than-expected earnings.

On the other side of the tug-of-war, pessimists can point to VF Corp. The maker of such brands as the North Face, Vans, Wrangler and Lee missed analysts’ expectations and said consumer spending would remain challenged.

Meanwhile, Winn-Dixie posted a wider loss and gave a weak 2010 outlook as recession-hit consumers shopped for fewer items on visits to the supermarket chain, and Limited Brands, the operator of the Victoria’s Secret and Bath & Body Works chains, warned that its October sales are trending below expectations.

The market weighed in as S&P 500 index futures edged higher on Tuesday as better-than-expected earnings offset worries that the market’s seven-month rally was reaching its end.

Also in the basket:

PepsiCo wins EU approval to buy two bottlers

Analyst: Store Closures Predicted to Peak in ‘10 (WWD, subscription required)

Men’s Wearhouse to spiff up K&G stores (New York Post)

(Reuters photo)

JC Penney stores in the United States and Puerto Rico are going exclusive with Liz Claiborne Inc’s namesake brand and celebrity designer Isaac Mizrahi will sell his upscale Liz Claiborne New York line only on QVC, a TV shopping network.

The moves from Liz Claiborne were seen by some as a downward shift to mass-market retail channels and came as department store orders for Liz Claiborne’s products have fallen during what has become the longest recession since the Great Depression.

Analysts said the JC Penney deal is more lucrative for Liz Claiborne and signals the end of a decades-long relationship between Liz’s main brand and the Macy’s department store chain – which didn’t exactly go quietly.

“The Liz Claiborne brand has sold poorly in recent years and has continued to decline. As a result, we could not justify expanding it at Macy’s,” a Macy’s spokesman said.

JC Penney is known in the United States for stressing affordability and discounts while higher-end department stores like Nordstrom or Saks carry more designer merchandise and higher price tags. Macy’s tends to be somewhere in the middle of the two extremes, but lately has been discounting aggressively and focusing on everyday values.

Liz Claiborne, which recently hired a turnaround firm, said its “bold steps” would  “further the revitalization” of the Liz Claiborne brand and “significantly alter its earnings trajectory.”

The agreement with JC Penney begins in August 2010. The Liz Claiborne New York line will partner with QVC after this year’s holiday season.

Mizrahi is no stranger to the small screen — or the silver screen. The outspoken designer currently is co-hosting Bravo’s “The Fashion Show” and was the subject of the 1995 documentary film “Unzipped.” 

While Mizrahi is not the first celebrity to pitch products on a home shopping channel, he did break new ground in 2003 with his exclusive women’s apparel and accessory line for Target.

His QVC show called “Isaac Mizrahi Live!” debuts in December and will sell Liz Claiborne New York apparel, accessories and home goods.

(Photo/Reuters)