business news in context, analysis with attitude

• The Great Atlantic & Pacific Tea Co. reported that in its most recent quarter, sales were flat at $1.61 billion and same-store sales were down 1.5 percent. The company also declared a loss of $7.2 million, which was good news when you consider that during the same period a year ago it had a loss of $39.1 million.

• PepsiCo reports first-quarter net income of $1.1 billion, up 16 percent compared with $947 million a year ago.

In the latest quarter, PepsiCo Beverages North America had revenue of $2.09 billion, up from $1.99 billion. Revenue in the Frito-Lay North America segment rose to $2.55 billion from $2.39 billion. Revenue in the Quaker Foods North America unit rose to $463 million from $443 million. PepsiCo International profits increased 29% on strong snacks and beverage growth.

• reports that its first quarter rose to $111 million, up from $51 million during the same period last year. Revenue rose 32 percent to $3.02 billion.
KC's View: