Chillin' out till it needs to be funded
Retail sales were so dodgy that McDonalds’ great results for Q2 last week were lost int he din of a global flatlining of comparable store sales in July. The burger giant thinks US comparable sales were weak because of a Mango Pineapple smoothie launch in July 2011. Sales were obviously weaker in Europe. This ogre obviously has not seen the many banana peels in the retail economy in the US one can slip on as it surges on d
espite weak retail and the shares may be quite a bargain after the smoothie takes them down to nearer $83 levels
Macy’s reported a 16% jump Y/Y in results on strong Spring sales according to Reuters. Macy’s earnings rose from 55 cents per share to 67 cents per share or $271 mln in profits in the April May June trimester. Fashion sales rose at Ralph Lauren too but it could not really get to the mint in time growing profits by just 8% for all the hard work in the middle of a bad economy. That puts the designer label in quite a spot financially as GAP (GPS:US) powereed ahead on results last week having convinced the world of its turnaround after 7-8 excruciating years for the branded store company. GAP reported comparable store sales up 10% over July last year and 4% for the Trimester it reported. GAP now expects a 35% higher $0.47 eps for the quarter coming up on the turnpike as it signs off the blues int he middle of the most tough Economic reports from the Redbook to the GS ICSC Store Sales reports and even the beige book
Disney in the meantime ran up profits to a $1.81 ahgainst estimates of less than a $1.50 as Avengers grossed its Spring quarter a huge profit and Thor a symbol of the Mickey headed movie mogul looking to break out in China along with Avatar Director James Cameron as Hollywood goes East for more Shanghai nights
Reuters insider (Three Times square , called 3XSQ for its branded short offering daily) also reports a new Bond movie only channel in the UK even as Aussie James Bond apparitions fight with an Aussie contingent that has lost more gold coming to the games than it won. The county of Yorkjshire in the North of England seemingly won twice the number of Golds the Aussies did with 5 Golden scalps.