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As food inflation rose over the last few years, companies like PepsiCo have been able to push through price increases to retailers and consumers — and then some. Food inflation has increased at a steady pace over the last few months. While PepsiCo is one of the largest food manufacturers in the world, it's far from alone in hiking prices. McMullen told investors last month he expects more discounts coming from national brands this year. Of course, national brands have been bragging about strong profits in recent years, which would suggest they're now in a position to offer discounts and promotions without breaking the bank.
Persons: , Cheetos, Jefferies, Ramon Laguarta, Laguarta, Crisman White, Rodney McMullen, McMullen, John David Rainey, Christina Hennington, they're Organizations: Service, Frito, PepsiCo, Business, Quaker Foods, Pepsi, Kroger, Walmart Locations: Quaker Foods North America
If shoppers already go to Amazon's stores or other places with an Amazon locker, it's quite convenient, said Jeremy Bartlow, a partner and consumer expert at PA Consulting. There's another reason why Amazon would love for you to pick up your Prime Day deals instead of delivering them to your front door: their bottom line. AdvertisementEarlier this year, Amazon offered a discount at Amazon Fresh grocery stores if patrons used one of the supermarkets to return something they bought on Amazon.com, for example. Whole Foods and Fresh Prime customers can also get their groceries selected from the selves and pre-packed for pick-up for free. Do you work for Amazon, Whole Foods, or Amazon Fresh and have a story idea?
Persons: , Amazon, Prime's, Jeremy Bartlow, Bartlow, you've Organizations: Service, Business, Foods, Amazon, U.S, PA Consulting, SEC, U.S . Postal Service, Amazon Fresh, Fresh Locations: U.S
Costco said Wednesday that it's raising its annual membership fee. AdvertisementCostco's annual membership fee is getting more expensive. The membership prices are the same amount regardless of currency — a Gold Star membership in Canada runs 60 Canadian dollars, for example. The increase is the first time that Costco has raised its membership fee since 2017. In May, Costco CFO Gary Millerchip said that a fee increase would happen at some point, adding that it was a question "of when we increase the fee, rather than if we increase the fee."
Persons: , Gary Millerchip Organizations: Costco, Service, Star, Business Locations: Canada
Nike's "performance" segment, meanwhile, includes many of its core sports products, such as basketball shoes. AdvertisementWhile revenue from performance products grew in Q4, declines in its lifestyle business overshadowed them, contributing to the worse-than-expected results. In its last fiscal year, lifestyle products have grown to about 60% of Nike's business, UBS analyst Jay Sole estimates. "One of our big takeaways from Nike's 4Q report is its lifestyle business needs a major reset," Sole said. That could help drive performance sales — especially those through Nike's digital business, a major pain point at the moment for the company.
Persons: , Tom Peddie, Peddie, hasn't, Matthew Friend, Friend, John Donahue, Phil Knight, Donahue, Jay Sole, Jefferies, Randal Konik, Simeon Siegel, we're Organizations: Service, Business, Nike, Bloomberg, Reuters, UBS, Nike's, Street, BMO Locations: China, Portland, Nike's
Read previewAt a Cracker Barrel in the Midwest, busloads of diners pull in from the interstate most Saturday nights and swarm the entrance. Cracker Barrel is upselling customers with packaged foodThe hostess said her Cracker Barrel location is increasingly trying to get customers to buy more food and drinks through various upselling strategies. "As a company, Cracker Barrel communicates menu updates and innovations to guests in a variety of ways including in-store through our servers and hosts and through signage throughout the restaurant and digitally though email, social media and through the Cracker Barrel app and Cracker Barrel Rewards," the spokesperson said. Cracker Barrel said in May that quarterly revenue declined 1.9% to $817.1 million year-over-year. AdvertisementDo you work at Cracker Barrel or another major restaurant and have a story idea to share?
Persons: , Craig Pommells Organizations: Service, Business Locations: Pennsylvania
Gen Z's latest hot club is Costco
  + stars: | 2024-07-05 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +3 min
Read previewOne of Gen Z's biggest tools for fighting persistently high food prices: Sharing a big cart of groceries — and potentially a membership card — from Costco or Sam's Club with roommates or family. Costco and Sam's Club might be happy for the new customers, but they're likely less eager about those who share membership cards to make the purchases. Wholesale retailers like Costco and Sam's Club have long appealed to consumers who shop for big families or parties. But some single people say a Costco membership makes sense for them thanks to benefits like savings on gas. Are you a shopper or employee at Costco or Sam's Club with a story idea to share?
Persons: , Z, Devak Nanda, Nanda, abitter@businessinsider.com Organizations: Service, Costco, Sam's, Wall Street, Business, Sam's Club, Walmart, of Illinois, Champaign, Devak Locations: of Illinois Urbana
They also pointed to some ways Cracker Barrel could get diners back in the chain's iconic rocking chairs waiting for a table. Last month, one guest responded: "It seems like Cracker Barrel is trying to squeeze every dollar out of its patrons." AdvertisementA Cracker Barrel spokesperson said patrons "have responded positively" to the $5 offering since it was introduced last year. CEO Masino, who previously held executive roles at Taco Bell and Starbucks, has indicated that changes are coming to Cracker Barrel. Do you work at Cracker Barrel or another major restaurant and have a story idea to share?
Persons: , Neal Klein, Klein, Julie Felss Masino, We've, crave, Masino, Tom Smith, it's, Bob Horner, Horner, That's, I've, It's, Smith, he's Organizations: Service, Business, Space, Taco Bell, Starbucks Locations: Florida, Chicago, Tennessee, Texas, Midwest
Read previewWhole Foods has long had a reputation as a pricey place to buy groceries. Since Amazon acquired the grocery chain in 2017, it has cut prices several times. The reductions appeared to take aim at Whole Foods' higher-than-average prices — something that had long led critics to refer to the chain as "Whole Paycheck." AdvertisementI then compared the prices I found there with those at a nearby Safeway, a middle-market grocery chain owned by Albertsons. I also used loyalty programs to get discounts at both stores — including Amazon Prime at Whole Foods.
Persons: , John Mackey, Mackey, Jeff Bezos, Jason Buechel Organizations: Service, Amazon, Foods, Business, Safeway, Albertsons, Whole Locations: Fairfax , Virginia, Washington
Read previewAmazon Prime Day is approaching, and as usual, the online retailer is offering a slew of specials for customers during the two-day shopping extravaganza. It also wants you to sign up (and pay for) Amazon Prime at $14.99 a month — and possibly a whole host of other Amazon subscriptions. (The Amazon Fire HD 10 tablet is 46% off this Prime Day, down from $139.99 to $74.99.) "We sell a lot of devices during our Prime Day events," CFO Brian Olsavsky said on an earnings call after Prime Day 2022. AdvertisementFor those with a Prime subscription, Prime Day represents "the new Black Friday," Bartlow said.
Persons: , gunning, Jeremy Bartlow, haven't, Bartlow, that's, Amazon's, Brian Olsavsky Organizations: Service, Amazon, Business, Consumer Intelligence Research Partners, PA Consulting, Whole Foods, Amazon Music, Kindle, Amazon's Alexa, Big Tech, Apple, US Department of Justice, Microsoft, Walmart, Target
Nike is struggling to get its stride back
  + stars: | 2024-06-29 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +5 min
One answer rests in what the company calls its "lifestyle" business — basically, shoes and clothing meant for casual wear. Related storiesWhile revenue from performance products grew in Q4, declines in its lifestyle business overshadowed them, contributing to the worse-than-expected results. AdvertisementIn its last fiscal year, lifestyle products have grown to about 60% of Nike's business, UBS analyst Jay Sole estimates. "One of our big takeaways from Nike's 4Q report is its lifestyle business needs a major reset," Sole said. While CFO Friend said management is "confident that we are repositioning Nike to be more competitive," investors have yet to be convinced.
Persons: , Matthew Friend, Friend, John Donahue, Jay Sole, Donahue, Jefferies, Randal Konik, Simeon Siegel, we're Organizations: Service, Business, Nike, Reuters, UBS, Nike's, Street, BMO Locations: China, Portland, Nike's
Detergent leaks from crushed bottles in one recent delivery to a Family Dollar store. It already unveiled a plan in March to close 1,000 Family Dollar stores — about 13% of the chain's locations. Related storiesThen, earlier this month, it went a step further and said that it was considering a sale of Family Dollar. Alex Bitter/BIWhat Family Dollar and Dollar Tree are doing about the damaged products is unclear. Do you work for Family Dollar, Dollar Tree, Dollar General, or another retailer and have a story idea to share?
Persons: , I've, Alex Bitter, It's, he's Organizations: Service, Dollar, Business, Pepsi Locations: Florida
Take one of Risher's latest LinkedIn posts, which details driving Lyft riders around Napa Valley on a Sunday in early summer. But one Pennsylvania-based Lyft driver told Business Insider that the reality is far different than what Risher describes. AdvertisementDuring one recent week driving in Pennsylvania, the driver told BI that he completed eight rides over about three hours and drove 85 miles. Uber and Lyft workers say they're regularly offered rides that pay $3 or less each. Do you work for Lyft, Uber, DoorDash, or another gig rideshare or delivery service and have a story idea to share?
Persons: , David Risher, Risher, They're, aren't, Lyft, Uber, they're, that's Organizations: Service, Business, Lyft Locations: Napa Valley, Pennsylvania, Napa
Take one of Risher's latest LinkedIn posts, which details driving Lyft riders around Napa Valley on a Sunday in early summer. But one Pennsylvania-based Lyft driver told Business Insider that the reality is far different than what Risher describes. AdvertisementDuring one recent week driving in Pennsylvania, the driver told BI that he completed eight rides over about three hours and drove 85 miles. Uber and Lyft workers say they're regularly offered rides that pay $3 or less each. Do you work for Lyft, Uber, DoorDash, or another gig rideshare or delivery service and have a story idea to share?
Persons: , David Risher, Risher, They're, aren't, Lyft, Uber, they're, that's Organizations: Service, Business, Lyft Locations: Napa Valley, Pennsylvania, Napa
Casual restaurants like Applebee's and Chili's are winning customers, some from fast-food joints. Diners are finding that a sit-down meal at the chains doesn't cost much more than a McDonald's. The latest round of discounts at both kinds of restaurants is making it easier to find a cheap meal. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementMcDonald's will start offering a $5 meal on Tuesday.
Persons: , Burger Organizations: Service, Business
Cracker Barrel's CEO recently said that the chain is "not as relevant" as it used to be. The restaurant chain is well-known for its vintage decorations and store full of kitsch. I went to a Cracker Barrel outside of Washington, DC, to see what's going on. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . This story is available exclusively to Business Insider subscribers.
Persons: , that's, hasn't, We're, Julie Masino Organizations: Service, Business Locations: Washington
Netflix is moving into malls
  + stars: | 2024-06-20 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +1 min
Netflix has announced the locations for its first two "Netflix House" venues. The streaming service will use spaces in two malls formerly occupied by department stores. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNetflix is joining the ranks of pickleball courts as it tries to make use of all that empty space in America's malls. The streaming service said Tuesday that it's planning its first two "Netflix House" locations in shopping malls — one at the Galleria Dallas and another in the King of Prussia Mall outside Philadelphia.
Persons: , King Organizations: Netflix, Service, Galleria Dallas, Business Locations: America's, Prussia Mall, Philadelphia
Amazon is rolling out more smart shopping carts to grocery stores. The Dash carts are meant to be a better option for grocery runs than Amazon's Just Walk Out tech. I tried using a Dash cart at Amazon Fresh and felt like I was using a self-checkout on wheels. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAmazon is betting that a smart shopping cart will become integral to your weekly grocery run.
Persons: Organizations: Service, Business
AdvertisementThere's a good chance that just one private equity firm owns one of your favorite restaurant chains. Over the last quarter-century, Roark Capital Group has bought up nearly 20 restaurant brands in the US. Its latest acquisition happened last year when it acquired Subway, which operates the most stores out of any restaurant chain in the US. AdvertisementThe private equity firm also has investments in The Cheesecake Factory, which is publicly traded, as well as midwestern burger chain Culver's. AdvertisementWhile Roark owns a lot of restaurant brands, it's hardly the only private equity player in the industry.
Persons: , Carl's Jr, Dunkin, Tyler Le, Roark, Jimmy John's, Auntie Anne's, Howard Roark, Ayn, TriArtisan Organizations: Buffalo Wild Wings, Roark Capital Group, Service, Business, Roark Capital, Hooters, TriArtisan Capital, Bay Capital Locations: Subway, Arby's, Carl's, Atlanta, Ayn Rand's, Nestle, Mars
AdvertisementThere's a good chance that just one private equity firm owns one of your favorite restaurant chains. Its latest acquisition happened last year when it acquired Subway, which operates the most stores out of any restaurant chain in the US. But Roark's holdings include other restaurants that you've probably visited before:Roark Capital owns almost 20 restaurant brands, from Carl's Jr. to Dunkin'. AdvertisementThe private equity firm also has investments in The Cheesecake Factory, which is publicly traded, as well as midwestern burger chain Culver's. AdvertisementWhile Roark owns a lot of restaurant brands, it's hardly the only private equity player in the industry.
Persons: , Carl's Jr, Dunkin, Tyler Le, Roark, Jimmy John's, Auntie Anne's, Howard Roark, Ayn, TriArtisan Organizations: Buffalo Wild Wings, Roark Capital Group, Service, Business, Roark Capital, Hooters, TriArtisan Capital, Bay Capital Locations: Subway, Arby's, Carl's, Atlanta, Ayn Rand's, Nestle, Mars
Read previewYour face could make you a shareholder in Clearview AI, thanks to the terms of a potential settlement of a lawsuit against the company. Related storiesLawyers leading the charge against Clearview argued that the company's approach violated the privacy of people whose photos it used. "Clearview AI is pleased to have reached an agreement in this class-action settlement," Jim Thompson, a partner at Lynch Thompson and lawyer for Clearview, told Business Insider through a spokesperson. The proposed settlement gives people whose photos were used by Clearview a stake in the company's future. AdvertisementBut the proposal also contains an irony for the people whose photos Clearview AI used.
Persons: , Clearview, Jim Thompson, Lynch Thompson, Jay Edelson Organizations: Service, The New York Times, Business, FBI, US Army, Court, Facebook, Apple
Amazon Fresh is offering grocery discounts to customers who return Amazon.com purchases there. The coupons are likely a way of getting you to shop at the chain, not just drop your returns off. AdvertisementAmazon Fresh is giving customers who stop by to make a return an incentive to use the store for its intended purpose: buying groceries. Signs at Amazon Fresh stores read "Package return customers save big" and include QR codes so that customers can claim the coupons, according to a photo seen by Business Insider. This story is available exclusively to Business Insider subscribers.
Persons: Organizations: Service, Amazon, Business
Sam Altman may have just scored a major coup
  + stars: | 2024-06-11 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +4 min
Read previewForget Tim Cook: OpenAI and Sam Altman might be the biggest winners after Monday's announcements at Apple's Worldwide Developers Conference. While Apple announced Apple Intelligence, its in-house artificial-intelligence tool, it also said that Apple users will soon be able to use ChatGPT in Siri through an integration it created with OpenAI. The feature is part of Apple's iOS 18, iPadOS 18, and Sequoia, its computer operating system. Apple's iOS is installed on about 2.2 billion devices, Wedbush Securities estimated in a note on Monday. OpenAI said in a statement that "the ChatGPT integration, powered by GPT-4o, will come to iOS, iPadOS, and macOS later this year.
Persons: , Tim Cook, OpenAI, Sam Altman, ChatGPT, it's, Craig Federighi, Apple's, Siri, Altman, Google's, Kelsey Peterson, Cook, haven't, macOS, Apple Organizations: Service, Apple's Worldwide, Apple, Apple Intelligence, Business, OpenAI, Wedbush Securities, Washington Post, Google, Safari Locations: Siri, Sequoia, WWDC
Apple is making the iPhone more like Android
  + stars: | 2024-06-10 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +1 min
The iPhone is about to look more like an Android thanks to iOS 18. Apple's new operating system includes home screen customization options similar to Android devices. Some users have argued that Android phones are more innovative than their Apple counterparts. AdvertisementYour iPhone will soon look more like an Android device. IPhone users will soon be able to customize elements of the home screen as part of Apple's iOS 18 software update, the company announced at Monday's opening session of its Worldwide Developers Conference.
Persons: , You'll Organizations: Apple, Service, Worldwide Developers, Business
The worker worked for Circle K and Parker's Kitchen, a South Carolina-based chain of convenience stores and gas stations, by claiming shifts through Shiftsmart. I am homeless, and gig work is pretty much the only thing that kept me above water. I would go to Circle K and work as a cleaner and merchandiser. I realized that, at the pay rate Shiftsmart and Circle K were offering, it was putting me further into a hole financially. I don't know the exact numbers, but Shiftsmart has to be getting paid by Circle K whenever someone takes a shift.
Persons: , I'm, Shiftsmart, they're Organizations: Service, Shiftsmart, Google, USPS, Business, Circle Locations: South Carolina
Dollar General removed self-checkout from more than half of its stores this spring. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The retailer cut self-checkout from 12,000 of its 20,000 stores, CEO Todd Vasos said during an earnings call late last month. Dollar General ended self-checkout at 3,000 stores in May alone, he said. "Moving forward, we plan to have self-checkout options available in a limited number of stores, most of which are higher-volume and low-shrink locations," Vasos said.
Persons: , Todd Vasos, Vasos Organizations: Service, Business
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