Happy meal? Steady demand for french fries is good news for U.S. economy
Publishing timestamp: 2023-10-05 15:54:06
Summary
Potato supplier Lamb Weston reports that the rate of customers ordering french fries with meals at fast-food restaurants remains high, indicating consumer willingness to splurge despite inflation. The company notes a shift in consumer behavior towards quick-service food providers. CEO Tom Werner remains confident in the long-term growth prospects for the frozen potato category, although inflation and uncertainty may impact restaurant traffic trends in the near term. Lamb Weston stock jumps over 9% in response.
Sentiment: MIXED
Tickers: LW,
Keywords: breaking news: business, economy, tom werner, retail industry, breaking news: economy, food and drink, lamb weston holdings inc, restaurants, lifestyle, agriculture, business news,