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"The increase in sugar and cocoa specifically is material," Mondelez CFO Luca Zaramella said in July. The data showed Hershey's sales volumes increasingly declined during the period as the company hiked prices. Barry Callebaut (BARN.S), the world's biggest chocolate maker supplying most major brands including Nestle (NESN.S), doesn't expect any growth in sales volumes this year. In the U.S., private label sales volumes grew nearly 9% in the year to mid-June despite near double-digit price rises, IRI data shows. Pennsylvania-based Hershey, is hoping that as it eases off the rate of price hikes, its sales volumes will reverse their current downtrend.

Persons: Mike Blake, Dirk Van de, Luca Zaramella, Patrick Folan, Mondelez, Hershey, Zaramella, Bernstein, I'd, Dan Sadler, Barry Callebaut, Hershey's, Michele Buck, Matt Scuffham, Elaine Hardcastle Organizations: REUTERS, Hershey, Reuters, Consumers, Nielsen, Cadbury, Barclays, IRI, Nestle, Rabobank, El, Kailyn, Thomson Locations: Encinitas , California, Europe, North America, U.S, Pennsylvania, El Nino, West Africa, Ivory Coast, Ghana, Kailyn Rhone, New York

☆ Beyond Meat stock slides more than 20% after company reports weak sales, cuts forecast
▼ + stars: | 2023-08-08 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Beyond Meat's stock fell more than 20% in morning trading Tuesday after the company reported weak sales, cut its full-year revenue forecast and walked back its goal of becoming cash-flow positive in the second half of the year. The company, which makes meat substitutes, has struggled for roughly two years as U.S. consumer interest in its products has waned. However, CEO Ethan Brown told analysts on the company's conference call Monday evening that its weak sales will likely delay its target of becoming cash-flow positive by the second half of 2023. U.S. demand for Beyond's meat alternatives appears to be declining at a faster rate, even as the company cuts its prices 8.6%, mostly through discounts. Beyond also cut its full-year revenue outlook to a range of $360 million to $380 million, compared to the $388 million Wall Street expected, according to Refinitiv.

Persons: Ethan Brown, Brown Organizations: Meat Inc, U.S, Wall Locations: Encinitas , California

☆ Party City, Creditors in talks to spin off balloon business, Bloomberg reports
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +1 min

A Party City store sign in seen in Encinitas, California March 9, 2015. REUTERS/Mike BlakeAug 4 (Reuters) - Party City Holdco is considering splitting up its balloon manufacturing and retailing businesses as the latter charts a course out of bankruptcy, Bloomberg News reported on Friday, citing people familiar with the situation. The company has held confidential talks with debt holders about spinning off its Anagram unit, the report said, adding that talks are continuing and the situation may change. Party City did not immediately respond to Reuters request for a comment. In January, Party City filed for bankruptcy protection after it saw its fortunes taper following a slowdown in sales due to lockdowns and store closures.

Persons: Mike Blake, Ananya Mariam Rajesh, Arun Koyyur Organizations: City, REUTERS, Bloomberg, Thomson Locations: Encinitas , California, United States, Bengaluru

☆ JPMorgan raises US economic growth estimate, no longer expects 2023 recession
▼ + stars: | 2023-08-04 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike BlakeAug 4 (Reuters) - JPMorgan's chief economist said on Friday the bank is no longer forecasting a U.S. recession this year and has raised its economic growth estimate as the economy expands at a "healthy pace." The firm increased its current-quarter real annualized GDP growth estimate to 2.5% from 0.5%, Michael Feroli wrote in a research note on Friday. And while recession risks are still elevated for next year, Feroli said he expects modest, sub-par growth. Earlier this week, strategists at Bank of America said they no longer forecast a 2024 recession for the U.S. and increased their 2023 economic growth outlook for the country. Still, while a recession is no longer his base case, it could materialize if the Fed is not done hiking rates, Feroli cautioned.

Persons: Mike Blake, Michael Feroli, Feroli, Sinéad Carew, Deepa Babington Organizations: REUTERS, Bank of America, U.S, Thomson Locations: Encinitas , California, U.S

☆ ‘A Dangerous Combination’: Teenagers’ Accidents Expose E-Bike Risks
▼ + stars: | 2023-07-29 | by ( Matt Richtel | More About Matt Richtel | ) www.nytimes.com time to read: +1 min

On a Thursday evening in late June, Clarissa Champlain learned that her 15-year-old son Brodee had been in a terrible crash, the latest teen victim of an e-bike accident. The e-bike, a model made by Rad Power, had a top speed of 20 miles per hour, but his route took him on a busy road with a 55-mile-per-hour limit. Ms. Champlain rushed to the hospital and was taken to Brodee’s room. “I went to grab his head and kiss him,” she recalled. In the days following, the town of Encinitas, where both incidents occurred, declared a state of emergency for e-bike safety.

Persons: Clarissa Champlain, Brodee, Champlain, “, ” Organizations: Rad Power, Nissan, BMW Locations: Encinitas

☆ Dangerous US heat wave pushes eastward, capping globe's record July
▼ + stars: | 2023-07-27 | by ( Brendan O'Brien | ) www.reuters.com time to read: +3 min

REUTERS/Mike BlakeCHICAGO, July 27 (Reuters) - An intensifying heat wave descended on the eastern United States on Thursday, prompting warnings about the dangers presented by the sweltering heat and humidity in the final days of a record-smashing July around the world. The nation's capital was expected to see the heat index, a measure of what the temperature feels like to the human body, reach 107 degrees F (41.7 C). The heat index could reach 103 degrees F (39.4 C) on Friday in the most populous U.S. city. June 2023 was the hottest on record in the United States, dating back to 1850. It also was the 47th consecutive June and the 532nd consecutive month with temperatures above the 20th-century average, according to the weather service.

Persons: Mike Blake CHICAGO, Muriel Bowser, Ashwin Vasan, Brendan O'Brien, Rosalba O'Brien Organizations: Cardiff State Beach, REUTERS, National Weather Service, Washington D.C, Washington, Twitter, Germany's Leipzig University, Union, U.S, Thomson Locations: Encinitas , California, U.S, United States, New York City, Washington, Philadelphia, York City, Greece, China, Phoenix , Arizona, Chicago

☆ This CEO's first 2 side hustle attempts failed—now his third business is worth $4 billion
▼ + stars: | 2023-03-23 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Look at Joe Kudla, the 45-year-old CEO and founder of Encinitas, California-based Vuori, a fast-growing athletic apparel startup most recently valued at $4 billion in 2021. When Kudla launched Vuori in 2014, he'd already tried and failed to get two other apparel brands off the ground. One was a contemporary women's apparel brand called Sammy Jo. The other was a T-shirt startup he'd also called Vuori, the Finnish word for "mountain." Launching the current version of Vuori as a side hustle wouldn't have worked for two reasons, he says.

☆ GameStop's surprise profit triggers short squeeze, meme stocks rally
▼ + stars: | 2023-03-22 | by ( Medha Singh | ) www.reuters.com time to read: +3 min

AMC and GameStop were at the heart of a meme-stock frenzy in 2021 driven by small investors coordinating on social media. Among other highly shorted meme stocks, Koss Corp (KOSS.O) climbed 9.5%, Bed Bath & Beyond (BBBY.O) reversed course to slip 1.3%, while the Roundhill MEME ETF (MEME.P) rose 4.2%. "Luckily, this go around is not due to meme investors, but an actual tangible fundamental event," said David Wagner, portfolio manager at Aptus Capital Advisors. SOURING SHORT BETSWhen there is a rush of demand from short sellers looking to exit their bearish bets amid a rise in a stock's price, it pushes prices even higher, resulting in a short squeeze. Another favorite among retail investors - Carvana Co (CVNA.N) - jumped 22% after the used-car retailer said it expects a smaller core loss in the current quarter.

☆ This CEO burned through $700,000 with a simple mistake—how he fixed it to build a $4 billion powerhouse
▼ + stars: | 2023-03-20 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

After raising $700,000 in a "friends and family" funding round, Vuori put its products in local yoga studios and fitness centers. "We were left with few options, and we were running out of money very fast," Kudla says. CNBC Make It: What were you thinking and feeling when it looked like Vuori might run out of money? We didn't have a lot of time on our hands, and we didn't have a lot of money. It's hard, because I think a lot of entrepreneurs have a kind of distortion reality field.

☆ US job growth beats expectations in February; wages rise moderately
▼ + stars: | 2023-03-10 | by ( Lucia Mutikani | ) www.reuters.com time to read: +3 min

Nonfarm payrolls increased by 311,000 jobs last month, the Labor Department's closely watched employment report showed on Friday. Economists polled by Reuters had forecast job growth of 205,000. The labor market has remained tight, with first-time applications for unemployment benefits staying very low despite high-profile layoffs in the technology industry. Households' perceptions of the labor market were also quite upbeat last month. The unemployment rate rose to 3.6% in February from 3.4% in January, which was the lowest since May 1969.

☆ US reports strong job growth in February; wage gains slow
▼ + stars: | 2023-03-10 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

They say the economy needs to create 100,000 jobs per month to keep up with growth in the working-age population. The labor market has remained tight, with first-time applications for unemployment benefits staying extremely low despite high-profile layoffs in the technology industry. Households' perceptions of the labor market were also quite upbeat last month. The unemployment rate rose to 3.6% in February from 3.4% in January, which was the lowest since May 1969. This broader measure of unemployment rose to 6.8% in February.

Like Willis, private economists and analysts at payroll firms and staffing companies also see a labor market that is stressed but adjusting. A recent Goldman Sachs study concluded wage growth should continue slowing even with the current low unemployment rate of 3.4%. But even that came with slowing wage growth, and the gain was amplified by seasonal adjustments used to factor out expected swings in hiring during holidays and summer. Nela Richardson, chief economist at payroll processor ADP, said even as economy-wide hiring remains strong, the tech layoffs may be helping mute overall wage growth. "If that is a trend...we would expect there would be less drive for wage growth," she said.

☆ Beyond Meat reports narrow-than-expected quarterly loss despite sinking sales
▼ + stars: | 2023-02-23 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Beyond Meat on Thursday reported a narrower-than-expected loss for its fourth quarter, despite its sales sinking more than 20%. Net sales dropped 20.6% to $79.9 million. The company said demand for meat alternatives across "all channels" is still soft. Beyond's net revenue per pound fell 4.4% in the quarter. U.S. sales fell 20.9% as the company saw weaker demand in both its grocery and food service segments.

☆ December's jobs report fuels optimism that the economy could still pull off a soft landing
▼ + stars: | 2023-01-06 | by ( Patti Domm | In | ) www.cnbc.com time to read: +4 min

Mike Blake | ReutersDecember's strong job growth combined with slowing wage inflation is fueling optimism that the economy might just see a soft landing. According to the Bureau of Labor Statistics, the economy added 223,000 jobs in the final month of 2022, less than the 256,000 in November. Mark Zandi, chief economist at Moody's Analytics, said the report is encouraging and confirms his expectation that there will be a soft landing for the economy. While many economists expect a recession, Zandi points to strong growth even with a slowdown in the housing sector. Zandi notes wage growth is a full percentage point slower than when it peaked in the spring.

[1/2] A Hershey's chocolate bar is shown in this photo illustration in Encinitas, California January 29, 2015. REUTERS/Mike Blake/File PhotoCompanies Hershey Co FollowNEW YORK, Dec 29 (Reuters) - Hershey Co (HSY.N) has been sued by a consumer who accused the company of selling dark chocolate that contains harmful levels of lead and cadmium. In a proposed class action filed on Wednesday, Christopher Lazazzaro said he would not have bought or would have paid less for Hershey's Special Dark Mildly Sweet Chocolate, Lily's Extra Dark Chocolate 70% Cocoa and Lily's Extreme Dark Chocolate 85% Cocoa had Hershey disclosed their metals content. Some studies suggest that the antioxidants and relatively low levels of sugar in dark chocolate could help prevent cardiovascular disease. Hershey's Special Dark bar and Lily's 70% bar were high in lead, and Lily's 85% bar was high in lead and cadmium, the magazine said.

☆ Monarch butterflies made a historic rebound this year, but my photos from 'Butterfly Town, USA' are disappointing and sad
▼ + stars: | 2022-12-24 | by ( Morgan Mcfall-Johnsen | ) www.businessinsider.com time to read: +11 min

California's monarch butterflies made a miraculous rebound from nearly disappearing in 2020. I visited Pacific Grove, AKA "Butterfly Town, USA," to see the monarch migration for the first time. Monarch butterflies fly at the Sierra Chincua butterfly sanctuary in Angangeo, Michoacan state, Mexico. Monarch butterflies fly at the Sierra Chincua butterfly sanctuary in Angangeo, Michoacan state, Mexico. When I was a child, I didn't see monarch butterflies, but they were already in decline.

A California interior designer was convicted of first-degree murder Wednesday after prosecutors said she killed her butterfly conservationist stepfather when she found nude photos of herself on his computer. Merriman was killed on Dec. 31, 2020, not long after Janks found the compromising photos on Merriman's computer. Janks drugged Merriman and then suffocated him with a plastic bag and choked him to death, prosecutors said. A text message Janks sent to an acquaintance the day of Merriman's death, and shown to jurors, read: "I just dosed the hell out of him." Janks' defense insisted Merriman died from poor health and his own chronic drug abuse.

☆ The Housing Slowdown Is Wreaking Havoc on the Short-Term Rental Market
▼ + stars: | 2022-12-09 | by ( Jessica Flint | ) www.wsj.com time to read: 1 min

Sabrina Must is wondering where her vacation rental bookings have gone. “I would have made upwards of $12,000 in a month in the summer,” says Ms. Must, 37, who for just over three years has short-term rented her two-bedroom, one-bathroom property in Encinitas, Calif., a beach town located about 25 miles north of San Diego. “Any weekend I wanted to be booked during the pandemic, I was booked. It was kind of like that prepandemic. Not as busy, but still busy.”

☆ Layoffs mount, and Main Street still can't find any workers to hire for open jobs
▼ + stars: | 2022-11-19 | by ( Cheryl Winokur Munk | ) www.cnbc.com time to read: +8 min

"Inflation, supply chain disruptions, and labor shortages continue to limit the ability of many small businesses to meet the demand for their products and services." Meanwhile, the National Federation of Independent Business, the main small business trade group, reported last week the tenth-consecutive month of a confidence decline on Main Street, though little change in the need to hire more workers. When it comes to salary, small business owners generally don't play in the same league as larger companies. For example, don't just offer yoga or meditation apps or gym benefits; offer multiple ways employees can recharge, Lebovits said. Finally, small businesses need to understand what attracts job-seekers in the first place and play up these advantages in all of their communications with candidates.

Rep. Mike Levin is running against Republican Brian Maryott in California's 49th Congressional District. 2022 General EmbedsCalifornia's 49th Congressional District candidatesLevin is serving his second term in the House and sits on the Committee of Veterans Affairs, where he is vice chairman. This is his third time running for the 49th Congressional District seat. Voting history for California's 49th Congressional DistrictCalifornia's 49th Congressional District is located in northern San Diego County and includes the cities of Oceanside and Encinitas. Republican hybrid PAC Congressional Leadership Fund leads all spenders, with Democratic hybrid PAC House Majority PAC and the Democratic Congressional Campaign Committee so far placing second and third.

☆ Democratic Rep. Mike Levin faces off against Republican Brian Maryott in California's 49th Congressional District election
▼ + stars: | 2022-11-02 | by ( Hanna Kang | ) www.businessinsider.com time to read: +4 min

Rep. Mike Levin is running against Republican Brian Maryott in California's 49th Congressional District. California's 49th Congressional District candidatesLevin is serving his second term in the House and sits on the Committee of Veterans Affairs, where he is vice chairman. This is his third time running for the 49th Congressional District seat. Voting history for California's 49th Congressional DistrictCalifornia's 49th Congressional District is located in northern San Diego County and includes the cities of Oceanside and Encinitas. Republican hybrid PAC Congressional Leadership Fund leads all spenders, with Democratic hybrid PAC House Majority PAC and the Democratic Congressional Campaign Committee so far placing second and third.

☆ Beyond Meat to cut 19% of its workforce as sales, stock struggle
▼ + stars: | 2022-10-14 | by ( Sara Salinas | ) www.cnbc.com time to read: +1 min

Vegetarian sausages from Beyond Meat Inc, the vegan burger maker, are shown for sale at a market in Encinitas, California, June 5, 2019. Beyond Meat plans to cut 19% of its workforce, or about 200 employees, the company said Friday in a regulatory filing. Shares of the company, already down about 77% so far this year as the company struggles with declining sales, fell in premarket trading Friday. The company also said Chief Financial Officer Philip Hardin stepped down from his post earlier this week. Lubi Kutua, previously Beyond Meat's vice president for financial planning and analysis as well as investor relations, assumed the top financial role on Thursday.

☆ U.S. business activity remains subdued in September, S&P Global survey shows
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Mike BlakeWASHINGTON, Sept 23 (Reuters) - U.S. business activity contracted for a third straight month in September, though the pace of decline slowed while improving global supply chains eased inflation pressures for companies. Register now for FREE unlimited access to Reuters.com RegisterThe S&P Global survey, however, likely exaggerates the slowdown in economic activity. The survey's flash manufacturing PMI nudged up to 51.8 this month from 51.5 in August. With input price increases slowing, average operating expenses for manufacturers rose this month at the slowest pace since November 2020. The survey's flash services sector PMI rose to 49.2 from 43.7 in August.

☆ Netflix ratings reflect an effective original content strategy
▼ + stars: | 2016-04-09 | by ( Robert Elder | ) www.businessinsider.com time to read: +5 min

Netflix's original series receive higher ratings than other Netflix content, suggesting that the streaming service's focus on original content is satisfying its subscribers, according to AllFlicks data shared with Business Insider. This suggests that Netflix's push to focus on original content is working — a strategy that other streaming services should bear in mind. The Netflix logo is is shown on an ipad in Encinitas, California Thomson ReutersAccording to the data, Netflix's original content rates 11% higher than its licensed content. Nevertheless, the higher ratings attributed to original content can serve as an important pointer for both Netflix and competing streaming services. In this regard, the relatively high ratings of Netflix's original content vindicate the company's investments in original content — at least from a user satisfaction perspective — even if this investment has occurred at the expense of Netflix's overall catalog size.

Persons: Margaret Boland Organizations: Intelligence, Digital Media Industry, Netflix, Business, California Thomson, Hulu, Insider Intelligence, Amazon, Showtime, Amazon Prime, HBO Locations: Encinitas, California, SVOD

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