Finances

The Procter & Gamble Company (PG) reported its fourth quarter and full-year earnings report on Tuesday, July 29. The manufacturing company topped earnings expectations, resulting in its shares rising by 1% following the release.

Procter & Gamble’s net sales for the quarter were $20.89 billion. This was a 2% increase from $20.53 billion in net sales during the same quarter last year and above analysts’ expectations of $20.82 billion. Full-year revenue came in at $84.28 billion.

“We grew sales and profit in fiscal 2025 and returned high levels of cash to shareowners in a dynamic, difficult and volatile environment,” said Procter & Gamble CEO, Jon Moeller. “We remain committed to our integrated strategy – a focused product portfolio of daily use categories where performance drives brand choice, superiority – across product performance, packaging, brand communication, retail execution and consumer and customer value – productivity, constructive disruption and an agile and accountable organization, all aimed at delivering sustainable, balanced growth and value creation.”

The company reported net earnings of $3.62 billion or $1.48 per adjusted share for the quarter. This was up from net earnings of $3.14 billion or $1.27 per adjusted share at the same time last year. The company reported net income of $15.97 billion for the year.

The Cincinnati, Ohio-based company offers a variety of popular brands, including Crest, Dawn, Febreze, Gillette, Tide, Pampers and others. PG reported an increase in net sales in almost all its segments, totaling to a 2% increase year-over-year. Organic sales increased by 2% compared to last year. The company attributed the increase in organic sales to higher pricing and favorable mix impacts. For fiscal year 2026, PG expects all-in-sales growth to be in the range of 1% to 5% and organic sales growth to be in the range of flat to up 4%.

The Procter & Gamble Company (PG) shares ended the week at $150.65, up 5% for the week.

The Cheesecake Factory Serves Up Earnings

The Cheesecake Factory, Inc. (CAKE) released its second quarter earnings report on Tuesday, July 29. The restaurant chain reported increased revenue and income for the quarter causing shares to rise almost 4% following the release of the report.

The Cheesecake Factory posted quarterly revenue of $955.8 million. This was up from $904.0 million reported at the same time last year and above analysts’ expectations of $948.3 million.

“We delivered another quarter of strong results, with record-high revenue, continued margin expansion, and profitability that exceeded our guidance,” said The Cheesecake Factory CEO, David Overton. “The

Cheesecake Factory restaurants led our performance, with comparable sales finishing above our

expectations, reflecting healthy consumer demand for the delicious, memorable dining experiences we

provide. Looking ahead, we remain focused on carrying the momentum, operational discipline, and strong execution from the first half of the year into the back half of 2025, to continue driving the consistent performance that has long defined The Cheesecake Factory.”

For the second quarter, The Cheesecake Factory reported net income of $54.8 million or $1.14 per adjusted share. This is up from $52.4 million or $1.08 per adjusted share reported at this time last year.

The Cheesecake Factory’s comparable restaurant sales in the second quarter increased 1.2% year-over-year. The company opened eight new restaurants, including one North Italia restaurant, three Flower Child locations and two FRC restaurants. The company also expects to open as many as 25 new restaurants in fiscal 2025. Currently, the company has a total of 362 restaurants. The company’s Board of Directors declared a quarterly dividend of $0.27 per share payable on August 26, 2025, to stockholders of record on August 12, 2025.

The Cheesecake Factory, Inc. (CAKE) shares closed at $65.94, down 6% for the week.

Starbucks Reports Earnings

Starbucks Corporation (SBUX) reported its third quarter financial results on Tuesday, July 29. The coffeehouse chain reported revenue that surpassed expectations, causing its shares to climb nearly 5% following the release of the report.

The company reported first quarter revenue of $9.46 billion, up from $9.11 billion reported in the same quarter last year. This exceeded analysts’ expected revenue of $9.31 billion.

“We have fixed a lot and done the hard work on the hard things to build a strong operating foundation, and based on my experience of turnarounds, we are ahead of schedule,” said Starbucks CEO, Brian Niccol. “In 2026, we will unleash a wave of innovation that fuels growth, elevates customer service, and ensures everyone experiences the very best of Starbucks. We are building back a better Starbucks experience and a better business.”

Starbucks’ net income for the quarter was $558.3 million or $0.49 per adjusted share. This was down from $1.1 billion or $0.93 per adjusted share in the same quarter last year.

Starbucks opened 308 net new stores in the third quarter and ended the period with 41,097 stores in total. Comparable store sales in North America decreased by 2% and international comparable sales were relatively unchanged from the prior year. The company declared a quarterly cash dividend of $0.61 per share. The cash dividend will be due to the stockholders of record on August 15, 2025, with a payment date of August 29, 2025.

Starbucks Corporation (SBUX) shares ended the week at $86.86, down 9% for the week.

The Dow started the week at 44,947 and closed at 43,589 on 8/1. The S&P 500 started the week at 6,398 and closed at 6,238. The NASDAQ started the week at 21,176 and closed at 20,650.

Treasury yields varied throughout the week as investors waited for the latest consumer spending data. Yields fell slightly at the end of the week as the jobless claims report suggested a softening of the labor market.

On Thursday, the Commerce Department announced that the personal consumption expenditure (PCE) index, which measures the cost of goods and services purchased by U.S. households, rose 2.6% in June, above analysts’ expectations of a 2.5% increase. Core PCE, which excludes food and energy, rose 2.8% on an annual basis, also above the forecast 2.7% rise.

“Tariffs are beginning to make their mark on the inflation data,” said deputy chief U.S. economist at Oxford Economics, Michael Pearce. “While services inflation remains subdued, helped by slowing housing inflation, core goods prices are up sharply in recent months. As Federal Reserve Chair Jerome Powell argued on Wednesday, the Fed will not cut rates until it is confident that a temporary rise in goods prices is not bleeding through into broader inflation and inflation expectations.”

The benchmark 10-year Treasury note yield opened the week of July 28 at 4.39% and traded as high as 4.42% on Tuesday. The 30-year Treasury bond opened the week at 4.93% and traded as high as 4.97% on Tuesday.

On Thursday, the U.S. Department of Labor reported that initial claims for unemployment were 218,000 for the week ending July 26. This was an increase of 1,000 from the prior week and fell below analysts’ expectations of 224,000. Continuing unemployment claims decreased by 2,500 to 1.95 million. On Friday, the Bureau of Labor Statistics released its monthly jobs report for July which indicated the unemployment rate rose to 4.2%. The report also noted an increase of 73,000 jobs in July, below economists’ forecasts of 115,000.

“Initial claims have been noisy over the last few weeks due to seasonal factors,” said lead U.S. economist at Oxford Economics, Nancy Vanden Houten. "Sorting through the noise, initial claims are consistent with a low pace of layoffs. Continued claims are still elevated, signaling unemployed workers are finding it difficult to find new jobs, but are showing signs of leveling off."

The 10-year Treasury note yield finished the week of 7/28 at 4.23%, while the 30-year Treasury note yield finished the week at 4.84%.

Freddie Mac released its latest Primary Mortgage Market Survey on Thursday, July 31. The survey showed mortgage rates continue to inch down from the previous week.

This week, the 30-year fixed mortgage rate averaged 6.72%, down from last week’s average of 6.74%. Last year at this time, the 30-year fixed mortgage rate averaged 6.73%.

The 15-year fixed mortgage rate averaged 5.85% this week, down from last week’s average of 5.87%. During the same week last year, the 15-year fixed mortgage rate averaged 5.99%.

“The 30-year fixed-rate mortgage showed little movement, remaining within the same narrow range for the fourth consecutive week,” said chief economist at Freddie Mac, Sam Khater. “Continued economic growth, along with moderating house prices and rising inventory, bodes well for buyers and sellers alike.”

Based on published national averages, the savings rate was 0.38% as of 7/21. The one-year CD averaged 1.63%.

Editor’s Note: The publicly available financial information is offered as a helpful and informative service to our friends. This article is not an endorsement of any company, product or service.