[Is it soup yet?] Apparently comfort food soothes the soul even in times of crippling economic crisis. To wit, Campbell's was the only stock on the S&P Index of 500 large companies to rise during September's stock market debacle. Meanwhile, McDonald's reported an 11% increase in 3rd quarter profits and an overall revenue boost of 6%. And Kraft Foods Inc. has replaced AIG on the Dow Jones Industrial Average.
Why, even the fast food-loathing French are turning to Le Big Mac in times of turmoil and trouble. France (where a Parisian double cheeseburger costs $10.70 U.S.) is now McDonald's biggest overseas market, accounting for a whopper-ish 13% of global sales.
So the next time your stocks tank, just grab a bag of Oreos, a can of Campbell's Tomato Soup, a Big Mac and eat your financial worries away. (Ted Scheffler)
Interesting comment. There is nothing like crisis-proof stock (unluckily, this is not the way the world works...), but sure some stocks have their own life! Maybe this is caused by psychology - people are more nervous and stressed and food is a way how to fight it, especially fast food.
ReplyDeleteRegards,
Lorne