DIRS.INFO The most relevant business & tech news

☆ Biden calls on snack makers to stop 'shrinkflation' rip-offs. Here's how to spot downsized grocery store products
▼ + stars: | 2024-02-12 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

The phenomenon called shrinkflation — where consumer products become smaller in quantity, size or weight while their prices stay the same or increase — is a "rip off," Biden said. "Some companies are trying to pull a fast one by shrinking the products little by little and hoping you won't notice," said Biden, who called for the companies to put a stop to the practice. These tactics tend to become more prevalent during times of high inflation, Dworsky said. "This corporate greed is one of the reasons that Americans are frustrated by expensive grocery bills," Casey said in a December statement. "I'm hoping with inflation subsiding a little bit that we'll see fewer examples, but it's never going to go away," Dworsky said.

Persons: Anna Bizon, Joe Biden, Biden, Edgar Dworsky, Dworsky, Sen, Bob Casey, Casey, it's, shrinkflation Organizations: Getty, Finance, shrinkflation, U.S . Bureau of Labor Statistics Locations: TikTok, Washington, shrinkflation

☆ Biden calls on snack companies to stop shrinkflation ahead of Super Bowl
▼ + stars: | 2024-02-11 | by ( Eva Rothenberg | ) edition.cnn.com time to read: +2 min

New York CNN —Joe Biden doesn’t want corporate greed to eat into your Super Bowl snack spread. “The American public is tired of being played for suckers,” said Biden in the video. He called on companies “to put a stop to this,” but did not mention any actionable steps his administration would be taking. Biden also didn’t address the companies by name, although the video panned over snacks like Doritos, Wheat Thins and Gatorade, which were mentioned in Casey’s report. Another 13% who feel the economy is still in decline cite Biden or Democratic policies.

Persons: New York CNN — Joe Biden doesn’t, ”, Shrinkflation, Democratic Sen, Bob Casey of Pennsylvania, Biden, Wheat, SSRS, CNN’s Ariel Edwards, Levy Organizations: New, New York CNN, Twitter, Democratic, Gatorade, CNN, Democrats Locations: New York

☆ The US economy is doing well. President Biden wants to know why so many Americans are still feeling bad
▼ + stars: | 2024-02-06 | by ( Mj Lee | ) edition.cnn.com time to read: +6 min

That has prompted President Joe Biden to repeatedly ask his advisers: Why then are so many Americans still not feeling great about the economy? While inflation has eased in recent months, prices on most goods are still higher than they were in the spring of 2021. Still, Biden’s economic advisers are increasingly telling the president in private that they feel optimistic about the direction things are headed. Historic-high prices that plagued the first few years of the Biden administration continue to moderate, all while economic growth is outpacing expectations. If those trend lines continue, they have cautiously told Biden, consumer sentiment, too, should begin to course-correct.

Persons: Joe Biden, Inflation, Biden, ‘ Sir, we’ll, “, ”, SSRS, Donald Trump, –, ” Biden, – we’re, – Sen, Bob Casey of, greedflation Organizations: Washington CNN, CNN, White, University of Michigan, Conference Board, New York Times, UBS Global Wealth Management Locations: Columbia , South Carolina, America, Bob Casey of Pennsylvania, Las Vegas, American

☆ Biden Takes Aim at Grocery Chains Over Food Prices
▼ + stars: | 2024-02-01 | by ( Jim Tankersley | ) www.nytimes.com time to read: +1 min

President Biden, whose approval rating has suffered amid high inflation, is beginning to pressure large grocery chains to slash food prices for American consumers, accusing the stores of reaping excess profits and ripping off shoppers. “There are still too many corporations in America ripping people off: price gouging, junk fees, greedflation, shrinkflation,” Mr. Biden said last week in South Carolina. Aides say those comments are a preview of more pressure to come against grocery chains and other companies that are maintaining higher-than-usual profit margins after a period of rapid price growth. Mr. Biden’s public offensive reflects the political reality that, while inflation is moderating, voters are angry about how much they are paying at the grocery store and that is weighing on Mr. Biden’s approval rating ahead of the 2024 election. Those prices jumped by more than 11 percent in 2022 and by 5 percent last year, amid a post-pandemic inflation surge that was the nation’s fastest burst of price increases in four decades.

Persons: Biden, Mr Locations: America, South Carolina

☆ Jack in the Box went through 60 different versions of its new burger before landing on the final recipe
▼ + stars: | 2024-01-23 | by ( Anneta Konstantinides | Nancy Luna | ) www.businessinsider.com time to read: +3 min

Read previewIt's been eight years since Jack in the Box released a new burger, and the Smashed Jack is already making a huge splash . "I think there was a year straight of trying different patties, different blends of meat, different types of ways we're going to cook it, how long we're gonna cook it." Jack in the Box's Smashed Jack, the first new burger launch in eight years, sold out in two weeks. Anneta Konstantinide/Business InsiderOstrom told BI that he and the chain's kitchen team went through 60 burgers before landing on the final Smashed Jack. The $8 Smashed Jack features a ¼-pound smashed-style beef patty, plus cheese, pickles, grilled onions, and the new "Boss" sauce.

Persons: —, Jack, It's, Ryan Ostrom, Ostrom, Anneta, Nancy Luna, I've, We're Organizations: Service, Business, Pepsi, Coke Locations: San Diego

☆ Branding’s corporate titans face moment of truth
▼ + stars: | 2023-11-22 | by ( Aimee Donnellan | ) www.reuters.com time to read: +8 min

Now for the first time this century, sales volumes at the big consumer goods manufacturers are falling. In the first nine months of the year, Kraft Heinz said the quantity of its sold items declined by nearly 6 percentage points year-on-year. That’s likely to allow Nestlé, Kraft Heinz and Unilever to see flat or modest increases in 2023 sales, LSEG data shows. Earlier this year, outgoing Kraft Heinz Chief Executive Miguel Patricio said the company lost market share to a branded competitor that spent more. Unilever, Nestlé and Kraft Heinz have all pointed to a slowing of price growth in the coming year.

Persons: Kraft Heinz, Nestlé, ’, Xavier Roger, Kraft, what’s, John Furner, Miguel Patricio, Mars, ”, François, EY, George Hay, Streisand Neto, Thomas Shum Organizations: Reuters, Consumer, Kraft, Unilever, Danone, ’, United Nations, Reuters Graphics Reuters, Nestlé, Kraft Heinz, Target, Reuters Graphics, Obesity, Mondelez, Walmart, “, Thomson Locations: U.S, Europe, Australia, Norway, Chocolat, London

☆ What is retail shrink, and how does it differ from theft?
▼ + stars: | 2023-11-21 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

"Shrink" has come up frequently as retailers like Walmart and Target talk about theft at their stores. AdvertisementExecutives at retailers like Walmart and Target often mention "shrink" or "shrinkage" when they talk about theft at their stores. In 2022, retailers lost $122.1 billion in shrink, or 1.6% of all retail sales, according to the National Retail Foundation. External theft represented 36% of shrink that year, while 29% came from employee theft. And executives at Dick's Sporting Goods said in August that higher-than-expected shrink from theft pulled the retailer's profits down during its second quarter.

Persons: —, it's Organizations: Walmart, Service, National Retail Foundation, Dick's Sporting Goods, CNBC

☆ Retailers are using a simple mind trick on you to make their discounts seem bigger than they are
▼ + stars: | 2023-10-13 | by ( Cork Gaines | ) www.businessinsider.com time to read: +4 min

This has retailers using an old trick to hide the true value of discounts from consumers, Walmart's ex-CEO says. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This means prices are still rising faster than the Fed's goal of getting inflation back down to 2.0%. The same logic applies here as a percentage discount doesn't mean you're getting a good deal if the original price was already greatly inflated.

Persons: Walmart's, —, it's, Bill Simon, Simon, they'll Organizations: Service, CNBC, Walmart, Hanes, Darden, Brands, Costco

☆ Even as job creation surges, Americans still think the economy stinks. Here's why
▼ + stars: | 2023-10-07 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

"You see all these high-level headline numbers, and those numbers don't jibe with your economic reality," said Elizabeth Crofoot, senior economist at labor analytics firm Lightcast. Higher prices have been one problem. Are the jobs numbers really that good? Beyond the housing costs, there's some evidence that the jobs numbers may not be all they're cracked up to be, either. After all, more than a quarter of the job creation for September came from lower-wage occupations in the leisure and hospitality industry.

Persons: Frederic J, Brown, Elizabeth Crofoot, nonfarm, Joe Biden's, Crofoot, millennials, Jessica Lautz Organizations: Shell, Afp, Getty, Labor Department, Reuters, Consumer, University of Michigan, Consumers, National Association of Realtors, NAR, Federal Reserve Locations: Alhambra , California, U.S

The data, compiled by NielsenIQ, showed overall sales volumes for shower gel, tampons, dishwashing products, laundry detergent and toilet paper declined in the year ended Sept. 17. Reuters GraphicsMajor brands like Ariel laundry detergent and Dove soaps have for years dominated the market versus retailers' private label goods. But the NielsenIQ data shows volumes for private label personal products are inching up while those for big brands decline. For instance, shower gel volumes fell 6% overall and 10% for big brands but rose 14% for private label products. Similarly, while laundry detergent volumes were down about 2% across the category and fell 10% for big brands, they surged 28% for private label brands.

Persons: Sarah Meyssonnier, NielsenIQ, Anton Delbarre, Emmanuel Macron's, Bernstein, Bruno Monteyne, Alexandre Bompard, Henkel, Eurocommerce, Richa Naidu, Helen Reid, Matt Scuffham, Catherine Evans Organizations: Carrefour, REUTERS, Unilever, Reuters, Nestle, Pepsico, Reuters Graphics, Consumer, Procter, Gamble, Delbarre, Thomson Locations: Montesson, Paris, France

☆ French supermarkets to demand food groups cut prices by up to 5%
▼ + stars: | 2023-09-20 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +3 min

French retailers have criticised consumer goods giants like Unilever and Nestle for price hikes they say are unjustified. The government has also put pressure on the consumer goods makers to cut prices. "We should probably be able to demand that the big (consumer goods) groups cut prices by between 2% and 5%," he said. Consumer goods firms are likely to face increased pressure across Europe to cut prices, industry experts say. Lawmakers also asked about buying alliances, which some supermarkets use to negotiate prices jointly with peers at the European level, and whether they enable retailers to evade French regulations on pricing.

Persons: Sarah Meyssonnier, Les Mousquetaires, Thierry Cotillard, Cotillard, Mousquetaires, Jan, Alexandre Bompard, Lawmakers, Systeme, Dominique Schelcher, E Leclerc, Philippe Michaud, Miloud, Leclerc, Michaud, Helen Reid, Hugh Lawson Organizations: REUTERS, Unilever, Nestle, Carrefour, Senate, REWE, Thomson Locations: Carrefour, Montesson, Paris, France, Portugal, Spain, Europe, Greece, London

☆ France to let fuel retailers sell below cost in inflation fight, prime minister says
▼ + stars: | 2023-09-16 | by ( ) www.reuters.com time to read: +2 min

PARIS, Sept 16 (Reuters) - The French government plans to temporarily lift a ban on retailers selling road fuel below cost as part of efforts to stem inflationary pressures on households, Prime Minister Elisabeth Borne told newspaper Le Parisien. A renewed surge in pump prices this summer has complicated the government's attempts to curb consumer inflation, with ministers calling on fuel and food industries to cut their margins. TotalEnergies (TTEF.PA) has extended a cap on fuel prices past the end of the year while some supermarket chains have held promotions to sell petrol at cost. "With this unprecedented measure, we will obtain tangible results for the French people, without subsidising fuel," she said in an interview published on Saturday. Regarding food prices, Borne told Le Parisien that companies from November would be required to indicate on labels when they modify the size of a product.

Persons: Elisabeth Borne, Le, Borne, Bruno Le Maire, Le Parisien, Gus Trompiz, Camille Raynaud, Jason Neely Organizations: Finance, Carrefour, Thomson

☆ Carrefour uses 'shrinkflation' stickers to pressure PepsiCo, Nestlé and Unilever
▼ + stars: | 2023-09-15 | by ( ) edition.cnn.com time to read: +3 min

French supermarket chain Carrefour has slapped price warnings on products ranging from Lindt chocolates to Lipton Ice Tea to pressure suppliers such as Nestlé, PepsiCo and Unilever to cut their prices. Carrefour is putting stickers on products that have shrunk in size but cost more even though raw materials prices have eased. After a new round of meetings last month, Le Maire said Unilever (UL), Nestlé and PepsiCo (PEP) were among companies not toeing the line on prices. Consumer groups say “shrinkflation” is a widespread practice, which supermarkets like Carrefour are also guilty of in their private label products. The shrinkflation warnings are in all French Carrefour stores, and will last until the targeted suppliers agree to price cuts, Bompais said.

Persons: Stefen Bompais, Alexandre Bompard, Bruno Le Maire, Le Maire, Nestlé, “, Bompais, — Organizations: Carrefour, Lipton, PepsiCo, Unilever, UL, Nestlé, Reuters Locations: France, Swiss, Carrefour

☆ French grocery chain adds 'shrinkflation' labels to products in bid to shame supplier pricing
▼ + stars: | 2023-09-15 | by ( Hannah Ward-Glenton | ) www.cnbc.com time to read: 1 min

Shopping cart in a department of a Carrefour supermarket, in front of pastas and sauces. French grocery chain Carrefour has taken the unusual step of adding labels to its products that have recently shrunk in size but have ramped up in price. The move — both in stores and on its website — looks to pile pressure on its suppliers that have increased prices for the chain, despite raw material prices having recently eased. Carrefour added the "shrinkflation" warning stickers to a range of products, from Lipton Iced Tea and Pepsi , to boxes of Lindt chocolates and baby milk powder. Carrefour did not immediately respond to a CNBC request for comment.

Organizations: Carrefour, Lipton, Tea, Pepsi, Reuters, CNBC

☆ Carrefour sticks price warnings on food to shame suppliers
▼ + stars: | 2023-09-14 | by ( Dominique Vidalon | ) www.reuters.com time to read: +3 min

PARIS, Sept 14 (Reuters) - French supermarket chain Carrefour (CARR.PA) has slapped price warnings on products from Lindt chocolates to Lipton Ice Tea to pressure top consumer goods suppliers Nestle, PepsiCo and Unilever to reduce inflation ahead of much-anticipated contract talks. After a new round of meetings last month, Le Maire said Unilever, Nestle and PepsiCo were among companies not toeing the line on prices. But Carrefour's move to name and shame suppliers marks an escalation in the war of words between retailers and big multinationals. The shrinkflation warnings are in all French Carrefour stores, and will last until the targeted suppliers agree to price cuts, Bompais said. Le Maire said last month consumer goods companies and retailers had agreed to bring forward annual price negotiations - which would normally have taken place next year - to September.

Persons: Bompais, Alexandre Bompard, Bruno Le Maire, Le Maire, Dominique Vidalon, Richa Naidu, Helen Reid, Silvia Aloisi, Richard Chang Organizations: Carrefour, Lipton, Nestle, PepsiCo, Unilever, Finance, Thomson Locations: France, Carrefour, Paris, London

French Economy and Finance Minister Bruno Le Maire attends the China-France Economic and Financial Dialogue at the Diaoyutai State Guesthouse in Beijing, China, July 29, 2023. He said they had also agreed to bring forward annual price negotiations - initially planned for next year - to September. Le Maire went a step further on Thursday, naming Unilever, Nestle and Pepsi Co as being among the companies which he said were refusing to toe the line on prices. "The large multinationals could do much more," Le Maire said. "No one is willing to say 'I am going to reduce my prices' because the government is saying so," he said.

Persons: Bruno Le Maire, Thomas Peter, Le Maire, Le, Sybille De La, Silvia Aloisi, David Holmes, Frances Kerry Organizations: Finance, France Economic, REUTERS, Rights, Unilever, Nestle, PepsiCo, Federation du Commerce, Pepsi Co, Thomson Locations: China, France, Diaoyutai, Beijing, Paris

☆ 'We all have to pay more attention to the fine print': consumer advocate Edgar Dworsky on 'shrinkflation'
▼ + stars: | 2023-08-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'We all have to pay more attention to the fine print': consumer advocate Edgar Dworsky on 'shrinkflation'Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Edgar Dworsky, Brian Sullivan, “ Organizations: CNBC

☆ People online are losing it over Campbell changing the recipe for Rao's pasta sauces after a buyout. The backlash even forced Campbell CEO to say they won't 'touch the sauce.'
▼ + stars: | 2023-08-11 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +3 min

Campbell Soup is acquiring the parent company of Rao's pasta sauce for $2.7 billion. Fans of the product are going on social media to mourn the end of Rao's saucy goodness. The social media backlash has driven the company's CEO to say they won't "touch the sauce." But within hours of the announcement on Tuesday, social media was rife with fans concerned about the fate of their beloved sauce. "I appreciate all the encouragement on social media, but we are not going to change it," he said, referring to the pasta sauce.

Persons: Campbell, it's, Mark Clouse, Campbell Soup, Clouse, Frank Pellegrino Sr, Campbell's, Sovos Organizations: Service, Twitter, Yahoo Finance, New, Sovos Locations: Wall, Silicon, New Yorks, American

☆ Offices are turning into amenity-filled campuses to entice employees back to work
▼ + stars: | 2023-06-20 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Businesses are stuck with trillions of dollars of commercial real estate they need to use. But supply and demand are starting to even out: National demand for office space in May was up 13% from April. But are corporations downsizing the amount of office space they rent as they permanently shift some roles to work from home? Have you seen a shift in the commercial real estate market since the collapse of Silicon Valley Bank and Signature Bank in March? The commercial real estate market is largely a regional business, landlords are local.

Persons: That’s, Bell, Nick Romito, It’s, We’ve, hasn’t, Chris Isidore, Ella Nilsen, Ian, ’ We’ve, Anna Cooban, Greene King, Shepherd Neame, ” Organizations: CNN Business, Bell, New York CNN, US Treasury Department, Federal Reserve, Securities and Exchange Commission, CBRE, Estate Services, Covid, Silicon Valley Bank, Signature Bank, Farm, Allstate, State, Brewers, CNN, Heineken Locations: New York, United States, Silicon, Florida, California, California , Florida, Louisiana, United Kingdom

☆ British brewers reduce alcohol in beers as inflation bites
▼ + stars: | 2023-06-19 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

Since, under UK law, brewers pay less tax on drinks with a lower alcohol content, the newspaper claimed that the companies had pocketed this saving rather than passing it onto customers through lower prices. Brewer Greene King has cut the alcohol content of its Old Speckled Hen pale ale to 4.8% from 5%. In January, Dutch brewer Heineken lowered the ABV content of Foster’s larger — which it sells in the UK — to 3.7% from 4%. Consumer price inflation in the UK remains stubbornly high, reaching 8.7% in April. Inflation has fallen back in recent months, but still clocks in higher than in any other country in the Group of Seven.

Persons: ” Greene King, Greene King, Shepherd Neame, Brewer Greene King, Chris Ratcliffe, Emma McClarkin, ” McClarkin, Mark Carney, Brexit, ”, Carney, revel, “ Organizations: London CNN — Brewers, CNN, Sunday, Bloomberg, Heineken, Beer and Pub Association, “ Brewers, Seven, Former Bank of England, Daily Telegraph Locations: United Kingdom, what’s

☆ CNBC Daily Open: Beware the real shrinkflation
▼ + stars: | 2023-06-09 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What's scarier is the shrinkflation that's happening in economies. But it's still "too high" and "set to remain so for too long," said European Central Bank President Christine Lagarde. But with April's inflation jumping more than expected to 6.8%, the central bank seems compelled to slow the economy further. Yesterday's gains in markets is certainly welcome, but investors should beware shrinkflation hitting the U.S. economy as well.

Persons: Christine Lagarde, Philip Lowe, shrinkflation Organizations: CNBC, European Central Bank, Reserve Bank of Australia, Federal Reserve Locations: Brussels, Belgium, Canada, Australia, U.S

☆ CNBC Daily Open: Economies can suffer from shrinkflation too
▼ + stars: | 2023-06-09 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

View of the building which houses the headquarters of the European Economic and Social Committee and the European Committee of the Regions on April 28, 2023 in Brussels, Belgium. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. But it's still "too high" and "set to remain so for too long," said European Central Bank President Christine Lagarde. But with April's inflation jumping more than expected to 6.8%, the central bank seems compelled to slow the economy further.

Persons: Christine Lagarde, Philip Lowe, shrinkflation Organizations: European Economic, Social Committee, European Committee of, Regions, CNBC, European Central Bank, Reserve Bank of Australia, Federal Reserve Locations: Brussels, Belgium, Canada, Australia, U.S

☆ It's not just the Costco $1.50 hot dog combo—4 products that have beaten inflation
▼ + stars: | 2023-06-02 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +3 min

Customers wait in line to order below signage for the Costco Kirkland Signature $1.50 hot dog and soda combo in Hawthorne, California. Hot Wheels' $1 toy carHot Wheels toy cars have been able to hover around $1 since their inception. In fact, when you account for inflation, it's cheaper to buy a new Hot Wheels car today than it was 55 years ago. Today, you can buy a single Hot Wheels car from Target for just $1.29. Costco's $1.50 hot dog and soda comboNot many companies pledge to never raise the price of an item, which is part of why the famous Costco $1.50 hot dog and soda combo gets so many headlines — especially when inflation is running rampant.

Persons: Don Vultaggio, Jim Sinegal, Craig Jelinek, Jelinek's, Jelinek Organizations: Costco, CNBC, Hershey, Walmart Locations: Hawthorne , California, AriZona, Target

☆ Chick-fil-A fans are debating whether its fries are shrinking or the chain is cutting portions
▼ + stars: | 2023-05-15 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Chick-fil-A customers are debating whether an order of fries at the chain are getting smaller. One patron posted time-lapsed photos to suggest that the chain's waffle fries get soggy over time. Customers of the Southern fast food chain have posted pictures of the fries on Reddit in the last few days. A larger order of waffle fries was $3.49 in Washington, DC, at lunchtime on Monday, according to Chick-fil-A's website. Another Reddit user posted three photographs showing an order of waffle fries after they received them and again nine minutes later.

☆ Some brands are 'slack-filling' to cleverly disguise how much product you actually get
▼ + stars: | 2023-03-11 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

There's a name for that empty part of the packaging: slack-fill. Dworsky suggested that some brands used slack-fill to deliberately mislead shoppers into thinking they're getting more product than they really are. The firm noted that these lawsuits are generally dismissed, in part because it's hard to prove that slack fill is nonfunctional. Halo Top and Mondelez have been unsuccessfully sued over slack-fill, too, lawsuits viewed by Insider show. But slack-fill lawsuits aren't always dismissed.

Search resuls for: "shrinkflation"

25 mentions found