Market Trends

WASHINGTON - The U.S. Commerce Department reported today that consumer spending dropped by 1.8 percent in September, following a modest 0.3 percent gain in August. This is the largest drop in more than 14 years, The Associated Press reported.

ROSWELL, Ga. - Harry's Farmers Market Inc. on Wednesday announced that it has completed the sale of its three mega-stores and related support facilities to Whole Foods Market Group Inc., as previously announced, for a purchase price of $35 million in cash. In addition, the company has changed its corporate name to Hurry Inc.

BOULDER, Colo. - Wild Oats Markets Inc., a leading national natural and organic foods retailer, today announced financial results for the third quarter and first nine months ended September 29, 2001.

Sara Lee Corp. today said net income fell almost 5 percent in its fiscal first quarter. Del Monte Foods Co. reported a slight loss in its earnings.

WASHINGTON, DC - The supermarket industry posted its highest net profits in nearly three decades at 1.25 percent of sales, according to the Food Marketing Institute's 2000-2001 Annual Financial Review. Operating income, at 3.03 percent, was near the 10-year high of 3.05 percent.

KOKIE, Ill. -Private label procurers Topco Associates Inc. and Shurfine International Inc. on Monday announced that their respective shareholder groups have voted in favor of a proposed merger of the Shurfine International operations into those of Topco Associates Inc. The transaction, which will be achieved through the formation of a new company, Topco Associates LLC, is effective Nov. 1, 2001.

ZAANDAM, The Netherlands - Ahold today announced its five Dutch subsidiaries are teaming up to offer a new joint Internet-based home delivery service called "Albert".

BANGKOK, Thailand - Cees van der Hoeven, CEO of Royal Ahold, and Antony Burgmans, chairman of Unilever, have been chosen to take over as co-chairmen of the Global Commerce Initiative, a worldwide advisory group for the development of voluntary electronic transaction standards for business.