Ya gotta love it! This just in from today’s Wall Street Journal:
If you believe U.S. corporations, Americans are drinking less coffee, eating fewer doughnuts and taking fewer cruises, all because of the presidential election. Companies have made a habit of finding excuses for their quarterly results. Blaming the weather is a perennial favorite. The fear of rising interest rates is another. Brexit is a newer culprit.
Now, Tuesday’s vote is front and center.
Among the companies blaming election angst for lagging performance, according to WSJ, are Starbucks, Dunkin’ Brands (Dunkin’ Donuts married to Baskin-Robbins), Carnival Cruises and McDonald’s. After tomorrow, of course, companies can blame it on whoever wins.
Oh, for the days when companies blamed slow sales on weather – snow in winter (or too-mild weather), heat (or cool) in summer and so on. Is the problem ever that we aren’t selling what people want to buy?
Is this a question investor relations people should ask before news releases and conference calls make these excuses an official message point? My guess is investors are taking notes.