Budgets/Spending/Market Size

Austin, Texas -- Whole Foods Market reported that its net income in the third quarter increased 21% to $142 million, better than analysts had expected. The company also sounded a bullish note about expansion.

Walter Robb, co-CEO, Whole Foods, said the company continues to gain market share and still sees the potential for 1,000 stores in the United States alone. It currently operates 355 U.S. locations.

NEW YORK — Consumer confidence in July rose to the highest level in six years as Americans’ views of their finances and the economy improved, according to the the Thomson Reuters/University of Michigan index of consumer sentiment.

The index increased to 85.1 in July from 84.1 at the end of June. It was the highest level since July 2007.

Consumers said they were move favorable toward making purchases, including automobiles and homes.

New York -- Consumers continue to hold tight to their purse strings and will rely heavily on online and mobile channels while they shop, according to Deloitte’s annual “Back-to-School” and “Back-to-College” surveys. 

Shoppers are far more optimistic about the economy than this time last year. Nearly four in 10 (37%) are more confident in the economy’s prospects, compared with just one-quarter (26%) a year ago. 

New York – The Great Atlantic and Pacific Tea Co. (A&P), which exited bankruptcy last year, is reportedly looking to sell itself. A report in the Wall Street Journal indicates that an internally distributed company memo from A&P chairman Gregory Mays to store managers states a sale of A&P is one of several options for funding growth, along with raising capital and refinancing.

Driven by strength in its baby and parenting and tools business units, Newell-Rubbermaid grew second quarter sales 3.5% to $1.47 billion, but profits fell slightly to $109.8 million, or 37 cents a share, compared with $111.8 million, or 38 cents a share, the prior year.

Earnings per share surged to 50 cents a share if restructuring and restructuring related costs and discontinued operations are removed from the profit picture.

New York — Nearly 70% (68%) of consumers plan to spend up to $500 this back-to-school shopping season compared with 63% in 2012 and 48% in 2011, according to a new spending forecast from e-commerce platform provider PriceGrabber.  Additionally, 17% of respondents plan to spend between $500 and $1,000, and 15% of shoppers said they have no back-to-school shopping budget this year. Conducted from June 17 to July 8, 2013, the survey includes responses from 2,191 U.S. online shopping consumers.

Canton, Mass. — Dunkin’ Brands Group, parent of Dunkin’ Donuts, beat Wall Street expectations by more than doubling its second-quarter profit. The company reported a profit of $40.8 million for the period ended June 29, up from $18.5 million a year ago. The year-earlier period included a $20.7 million increase in a litigation reserve.

Revenue increased 5.9% to $182.5 million from $172.4 million. U.S. same-store sales rose 4% at Dunkin' Donuts shops and improved 1.6% at Baskin-Robbins shops.

LOS ANGELES — With the back-to-school season well underway, a new spending forecast from e-commerce platform provider PriceGrabber conflicts with other recent studies and highlights the danger of placing much credence in what shoppers say about their spending intentions.