Campbell Soup Company (CPB)
F4Q2010 Earnings Call Transcript
September 3, 2010 10:00 am ET
Archive for the ‘Retail’ Category
Campbell Soup CEO Discusses F4Q2010 Results – Earnings Call Transcript
On September - 3 - 2010
Retailers Gain in August
On September - 3 - 2010
Zacks.com submits:
The nation’s retailers have reported unexpectedly strong August sales numbers as back-to-school requirements kept shoppers from restraining their spending plans. Retailers posted strong results on the heels of solid traffic and sales, albeit backed by heavy promotion and discounting in the back-to-school season. Further, tax-free holidays also provided a boost to the overall sales of the retailers. Seventeen tax-free holidays during August lured shoppers to the malls.
Looking back to only a year ago, the recession had the nation firmly in its grip, and the back-to-school season was somewhat sluggish as consumers were determined not to spend more. High employment rates, a falling housing market index and lower consumer spending made retailers uncertain of consumer behavioral trends. But this year has come as a breath of fresh air for the retailers.
McDonald’s All-Time High
On September - 3 - 2010
Eddy Elfenbein submits:
Congratulations to McDonald’s (MCD). The stock just made a new all-time high today of $75.35. That’s not just a 52-week high, or a post-crash high; that’s an all-time high.
Forty years ago you could have picked up the shares for just 29 cents a piece. That’s adjusted for nine stock splits; four 2-for-1s and five 3-for-2s which equals 121.5-for-1. That’s a gain of close to 26,000% or nearly 15% a year, and it doesn’t include dividends.
Costco Keeps the Ball Rolling
On September - 3 - 2010
Zacks.com submits:
Costco Wholesale Corporation (COST), one of the leading U.S. warehouse club operators, recently posted healthy sales data for the four-week period ended August 29, 2010.
The company sustained its sales momentum. After a 6% increase in July 2010, Costco’s comparable-store sales for August rose 7%, reflecting comparable sales growth of 6% at its U.S. locations and 11% at its international divisions. Comparable-store sales for fourth-quarter 2010 grew 6% with U.S. sales up 4% and international sales up 14%. The results were favorably impacted by rising gasoline prices and a weaker U.S. dollar.
Campbell Soup 4Q EPS Beats Estimates
On September - 3 - 2010
Zacks.com submits:
Campbell Soup Co. (CPB) reported fiscal 2010 fourth-quarter adjusted earnings of 33 cents per share, topping the Zacks Consensus Estimate of 30 cents. Quarterly earnings also came in ahead of the year-ago result of 30 cents per share.
Campbell’s net sales during the quarter declined by a modest 0.7% year-over-year to $1.52 billion, which missed the Zacks Consensus Estimate of $1.60 billion. The decline was primarily caused by higher promotional spending, partially offset by favorable currency translations.
Coke Acquires Fourth Largest Russian Juicemaker
On September - 3 - 2010
Zacks.com submits:
The Coca Cola Company (KO) has acquired Nidan, the fourth largest juice manufacturing company in Russia. The acquisition is a part of the company’s strategic plan to expand its presence in the fast growing emerging markets through strategic acquisitions. Nidan’s products include Moya Semya, Da! and Caprice; and the company has its facilities in Moscow and Novosibirsk.
Coca Cola already has a presence in the Russian juice market and commands a 22% market share through Multon. Now, with the acquisition of Nidan, which has a 14% market share, the company is expected to become the market leader in the Russian juice market. In 2008, the company’s rival, PepsiCo (PEP) had acquired Lebedyansky, a major juice company in Russia, through which it currently controls a 32% market share.
Coke Acquires Number Fourth Largest Russian Juicemaker
On September - 3 - 2010
Zacks.com submits:
The Coca Cola Company (KO) has acquired Nidan, the fourth largest juice manufacturing company in Russia. The acquisition is a part of the company’s strategic plan to expand its presence in the fast growing emerging markets through strategic acquisitions. Nidan’s products include Moya Semya, Da! and Caprice; and the company has its facilities in Moscow and Novosibirsk.
Coca Cola already has a presence in the Russian juice market and commands a 22% market share through Multon. Now, with the acquisition of Nidan, which has a 14% market share, the company is expected to become the market leader in the Russian juice market. In 2008, the company’s rival, PepsiCo (PEP) had acquired Lebedyansky, a major juice company in Russia, through which it currently controls a 32% market share.
Burger King to Be Bought by 3G for 46% Premium
On September - 3 - 2010
Zacks.com submits:
Burger King Holdings Inc. (BKC), the world’s second-largest hamburger chain after McDonald’s Corp. (MCD), announced that it is being acquired by a private investment firm 3G Capital for $24 per share, or $4.0 billion, including the debt of the company.
The offer price is at a 46% premium to the share price before the speculation of buyout talks in the market on Wednesday. The transaction is expected to close in the fourth quarter of 2010.
The Burger King Buyout: Which Fast Food Operator Is Next?
On September - 3 - 2010
StreetAuthority submits:
By David Sterman
With a deal in place to acquire Burger King (BKC) for a tidy $24 a share, investors are handed the opportunity to quickly assess how its rivals are valued. Any rivals selling at a sharp discount to Burger King’s price are likely to see renewed investor interest as the M&A action heats up in the sector.
Beware of Renewed Consumer Spending With Regard to Retail Sector ETFs
On September - 3 - 2010
Kevin Grewal submits:
Despite a weak job market, consumers opened their wallets and started spending once again, shinning a ray of light on ETFs which track the retail sector, such as the SPDR S&P Retail ETF (XRT), the Retail HOLDRs (RTH) and the PowerShares Dynamic Retail Portfolio (PMR).
According to Thompson Reuters, comparable sales for retail stores open at least a year rose 3.3% in August, better than the 2.5% that was forecasted. Furthermore, it appears that this outperformance in the retail sector came at the expense of consumer savings rates, which dipped by 6% in August.