Word: quarterly
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...recession has been good to McDonald's. As consumers trade down to cheaper, faster food on the go, McDonald's has kept up its growth during the downturn. Same-store sales rose 4.3% for the quarter that ended March 29. Profits were up 4%, to $980 million. In this economy, that's an explosion...
...chosen brands, it's too early to anoint her a savior. "Michelle Obama hasn't done enough to significantly change the financial performance of J. Crew and Talbots," says Betty Chen, retail analyst at Wedbush Morgan Securities. J. Crew's same-store sales fell 13% in the fourth quarter of 2008. The company lost $13.5 million, compared with a $25 million profit in the fourth quarter of 2007. Talbots has updated its merchandise to fit its repositioning as a younger company. According to Chen, however, the company is too indebted to revamp its musty stores, a big hindrance...
...First Lady might save another retailer, Talbots, from extinction. The company lost $128.4 million, excluding special charges, in the three months ending Jan. 31, compared with a $7.1 million loss the previous year. Same-store sales fell 14.2% for the year, and an incredible 24.6% in the fourth quarter. Over the past year, the company has desperately tried to reposition itself from a frumpy brand for the over-50 set to a stylish look for the new sophisticated 40-something. In early April, the May issue of Essence hit newsstands, with Obama wearing a $169 Talbots silk dress...
...Eating, Sleeping and Leisure: "Americans spend around an hour and a quarter eating every day, slightly more than only Canadians and Mexicans but less than half the eating time spent by the French. Despite this limited time spent eating, their obesity rates are the highest in the OECD." (That's ten times the rate in South Korea, mind you). "Spain reports the highest proportion of leisure time spent doing regular physical activities. Even there, exercise accounts for a mere 13% of leisure time. ... Italian men have nearly 80 minutes a day of leisure more than women. Much of the additional...
...unemployment keeps rising, consumer spending won't rebound strongly, bank-loan losses will keep rising and a recessionary relapse isn't out of the question. The next monthly employment report, due Friday, is expected to show continued heavy job losses. So no signs of a reprieve from that quarter...