business news in context, analysis with attitude

  • 7-Eleven Inc. reported that its total May sales rose 5.5 percent to $1.15 billion, with US same-store sales up 3.4 percent.

  • Krispy Kreme Doughnuts said yesterday that it will not file its quarterly reports with the US Securities and Exchange Commission (SEC) on time, blaming in part the time and money being spent dealing with regulatory and legal issues. The company said that first quarter revenue would be “about” $153 million, compared to $184.4 million during the same period a year ago.

  • Foodarama Supermarkets reported second quarter net income of $54,000, down 94 percent from the same period a year ago. Sales for the quarter were up 4.8 percent to $292 million.

  • Ahold reported first quarter net profit that was the equivalent of $177.4 million, down from $370.1 million during the same period a year ago. Sales were down one percent for the quarter to $17.2 billion.

    CEO Anders Moberg, who has been promoting his “Road to Recovery” agenda for the company, said that “the year has only just begun” and that “"I am happy with where we are at this point in time.”

KC's View:
Reading Anders Moberg’s comments about Ahold’s first quarter performance made us wonder when he became such a big Carpenters fan.