Despite Rising Food Costs, Heinz, Kroger, And Wendy’s Improve Sales

Forbes (blog):

As markets brace themselves to react to higher food costs due to rising commodity prices, Heinz, Kroger, and Wendy’s/Arby’s posted earnings before the bell on Thursday.

While Heinz and Kroger grew sales as consumers bought more condiments, fuel, and food products, Wendy’s/Arby’s saw its revenues fall but its losses narrows as it lowers costs and looks to spin off the Arby’s brand.

Heinz, the world’s largest producer of ketchup and other condiments by revenue, posted a very strong third quarter, with net income up 19.8% to $274 million, or 84 cents, 2 pennies above Wall Street’s consensus forecasts. More.