Armstrong World Industries today reported a small drop in net profits for the fourth quarter but a sizable increase for the year.
For the quarter, net profits slid 1.2 percent to $8.4 million (14 cents a share) from $8.5 million (14 cents a share) in the 2011 quarter.
Sales dipped 1.6 percent to $612.8 million.
Read more: http://lancasteronline.com/article/local/816802_Armstrong-s-yearly-profit-climbs.html#ixzz2LOK0sAFf
Bigmac mcdonald’s japan (Photo credit: Wikipedia)
Restaurant discounts and special offers have returned after a recent sales cool-down at some of the nation’s hottest chains, a trend that threatens to squeeze industry profits at a time when food costs are set to rise.
U.S. consumers ate fewer Big Macs at McDonald’s Corp., skipped some caffeine runs to Starbucks Corp. and passed on the occasional burrito at Chipotle Mexican Grill Inc. – sending a shiver through the investment community that has grown used to those chains posting strong growth in the face of the nation’s lackluster economic recovery.
McDonald’s on Wednesday vowed to focus more on value after reporting flat sales at established restaurants around the world in July — its worst showing in more than nine years.
Starbucks and Chipotle’s industry-leading same-restaurant sales growth decelerated last quarter, forcing both chains to make adjustments to reinforce their positions.
Investors are shunning Bon-Ton Stores Inc.‘s bonds – a bad sign for the York-based department store chain with seven stores in the Lehigh Valley.
In contrast, other retailers have recently gained from rising consumer confidence in the U.S.
Bon-Ton’s $480 million of 10.25 percent notes due in March 2014 lost 2.8 percent last month, the worst performance of any bonds in the Bank of America Merrill Lynch U.S. High Yield Super Retail Index, which climbed 1.7 percent overall. Moody’s Investors Service put its Caa1 rating for the securities on “negative outlook” on Dec. 1, citing the company’s “persistent underperformance.”
Read more: http://www.mcall.com/business/mc-allentown-bontton-20120103,0,3027398.story
