Top Stock Reports for Amazon.com, American Express & Philip Morris
Today's Research Daily features new research reports on 16 major stocks, including Amazon.com, Inc. (AMZN), American Express Company (AXP) and Philip Morris International Inc. (PM). Monday, March 18, 2024The Zacks Research Daily presents the best research output of our analyst team. Today's Research Daily features new research reports on 16 major stocks, including Amazon.com, Inc. (AMZN), American Express Company (AXP) and Philip Morris International Inc. (PM). These research reports have been hand-picked from the roughly 70 reports published by our analyst team today.You can see all of today’s research reports here >>>Amazon.com shares have outperformed the Zacks Internet - Commerce industry over the past year (+78.5% vs. +53.4%). The company is gaining on solid Prime momentum owing to ultrafast delivery services and strong content portfolio. Strengthening relationship with third-party sellers is a positive.Additionally, strong adoption rate of AWS is aiding the company’s cloud dominance. Expanding AWS services portfolio is continuously helping Amazon in gaining further momentum among the customers. Robust Alexa skills and expanding smart home products portfolio are positives.The company’s strong global presence and solid momentum among the small and medium businesses remain tailwinds. Growing capabilities in grocery, pharmacy, healthcare and autonomous driving are other positives. Also, deepening focus on generative AI is a major plus. However, adverse macroeconomic challenges remain concerns.(You can read the full research report on Amazon.com here >>>)Shares of American Express have outperformed the Zacks Financial - Miscellaneous Services industry over the past year (+40.8% vs. +23.5%). The company’s growth initiatives, like launching new products, reaching new agreements and forging alliances, are boosting its revenues.Consumer spending on T&E, which carries higher margins for AmEx, is advancing well. Its balance sheet looks strong with ample cash. Solid cash-generation abilities enable the pursuit of business investments and prudent deployment of capital via buybacks and dividends.However, with higher utilization of the firm’s cards, expenses in the form of card member services and card maember rewards are likely to go up and strain its margins. Its current debt level amid a high-interest rate environment induces a rise in interest expenses. AmEx seems overvalued at the current price/earnings level. As such, the stock warrants a cautious stance.(You can read the full research report on American Express here >>>)Shares of Philip Morris have outperformed the Zacks Tobacco industry over the past year (+3.1% vs. -0.2%). The company has demonstrated impressive resilience amid rising costs due to its smoke-free strength. The company has been gaining from its pricing power. Higher pricing variance was an upside to the company’s performance in the fourth quarter of 2023 and is likely to remain a driver.The consistent success of IQOS and the impressive growth of ZYN have further solidified the company’s position, keeping it well-placed to become a majority smoke-free company by 2030. For 2024, management expects net revenues to increase 6.5-8% on an organic basis.However, growth-oriented investments, especially in IQOS ILUMA, may impact profits. Also, management expects the increased cost of leaf and wages to linger into 2024 before easing thereafter. Apart from this, Philip Morris has been witnessing soft cigarette volumes, which declined 1.4% in 2023.(You can read the full research report on Philip Morris here >>>)Other noteworthy reports we are featuring today include NIKE, Inc. (NKE), Bayer Synopsys, Inc. (SNPS) and Valero Energy Corporation (VLO).Director of ResearchSheraz MianNote: Sheraz Mian heads the Zacks Equity Research department and is a well-regarded expert of aggregate earnings. He is frequently quoted in the print and electronic media and publishes the weekly Earnings Trends and Earnings Preview reports. If you want an email notification each time Sheraz publishes a new article, please click here>>>Today's Must ReadPrime Momentum & Growing AWS Adoption Benefit Amazon (AMZN)Improving Volumes Aid American Express (AXP), High Costs HurtPhilip Morris (PM) Benefits from Strong Smoke-free RevenuesFeatured ReportsNIKE's (NKE) Digital & Other Growth Efforts Look Encouraging Per the Zacks analyst, NIKE's digital business is gaining from underlying consumer trends, including momentum in its mobile app, driven by improved traffic and increasing member buying frequency.Valero (VLO) Gains on Higher Gulf Coast Refinery ThroughputThe Zacks analyst is impressed by Valero's Gulf Coast refineries contributing the most to its total throughput volumes. Higher Gulf Coast export volumes will also support its margins.Infrastructure Solution Demand Aids Quanta (PWR), Delays HurtPer the Zacks analyst, more demand for infrastructure solutions, aiding energy-transition efforts and modernization, will drive growth for Quanta. Yet, project delays and competition are risks.Acquisitions to Aid Heico (HEI), Supply Chain Issue WoesPer the Zacks analyst, disciplined acquisition strategy has been driving Heico's overall performance. However, supply chain disruptions have been impacting the company's material pricesFood Processing Equipment Group to Benefit Middleby (MIDD)Per the Zacks analyst, solid traction of Middleby's Food Processing Equipment Group unit, fueled by full-line automated solutions for protein and bakery products, will continue to lend momentum to it.AUM, Global Presence Aid Invesco (IVZ), Weak Revenues HurtPer the Zacks analyst, Invesco's robust AUM balance, strong balance sheet and global presence will support financials. Yet, macroeconomic woes and tough operating backdrop will likely hamper revenues.Denali (DNLI) Pipeline Progress Good, Targeted Market ToughPer the Zacks analyst, Denali pipeline of targeted candidates for neurodegenerative diseases is impressive. The recent pipeline progress has been encouraging. However, targeted markets are challengingNew UpgradesSynopsys (SNPS) Banks on Strong Product Menu, Contract WinsPer the Zacks analyst, Synopsys' focus on strengthening its product portfolio is helping it cater to the growing demand in the EDA market. Deal wins at leading semiconductor companies is a tailwind.Cardinal Health's (CAH) Diverse Products Gives Competitive EdgePer the Zacks analyst, Cardinal Health's diversified portfolio represents long-term opportunities. Its products provide the company with a competitive edge in the niche space with fierce competition.Woodward (WWD) Benefits from Momentum in Aerospace SegmentPer the Zacks analyst, Woodward's performance is gaining from strength in its Aerospace segment. The Industrial segment is expected to gain from higher demand for power generation.New DowngradesNorfolk Southern (NSC) Reels Under Weak Freight ConditionsThe Zacks analyst is worried about the below-par revenues due to the weak freight demand scenario. Elevated labor costs represent another headwind.Lower IT Spending to Hurt DXC Technology's (DXC) ProspectsPer the Zacks analyst, DXC Technology's growth prospects might be hurt by soft IT spending as organizations are pushing back their large IT investment plans amid the macroeconomic headwinds.Lower Headcount at Client Offices to Impact Paycom (PAYC)Per the Zacks Analyst, Paycom's near-term results are likely to be hurt by headcount reductions across its client base due to growing recession concerns amid macroeconomic uncertainties. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 5 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How To Profit From Trillions On Spending For Infrastructure >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Amazon.com, Inc. (AMZN): Free Stock Analysis Report NIKE, Inc. (NKE): Free Stock Analysis Report American Express Company (AXP): Free Stock Analysis Report Philip Morris International Inc. (PM): Free Stock Analysis Report Valero Energy Corporation (VLO): Free Stock Analysis Report Synopsys, Inc. (SNPS): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment Research.....»»
How Much Should You Tip? Five People Share Their Habits
Five people share their tipping habits over the course of one week If you feel like you’re being asked to tip more often than ever, you’re not alone. A November report by the Pew Research Center found that 72% of Americans say that tipping is expected in more places today than it was five years ago. From self-service kiosks to fast casual restaurants to grab-and-go cafes, options to tip are everywhere. To better understand tipping culture, TIME asked five people to track their spending over the course of a week, and share what they tipped on and why. [time-brightcove not-tgx=”true”] Read More: Why We’re Spending So Much Money Gig workers and waitstaff often rely on tips to make a living. But Americans increasingly feel that tipping culture has gone too far. Another survey by consumer financial services company Bankrate found that around two in three U.S. adults have a negative view about tipping, and that 41% of U.S. adults think businesses should just pay their employees better, so that they don’t have to rely so heavily on tips. Tipping is thought to have its roots in ancient Rome, but in its modern form it’s believed to have originated in Tudor England. In the 19th century, when wealthy Americans returned from travels in Europe, they began tipping out of a desire to appear aristocratic. At first, the practice was strongly opposed by most diners, who argued that it was contrary to the American ideal of a society without stratification by social class. But tipping stuck, in part because business owners stood to benefit, as the practice shifts some of the burden of paying servers onto customers. Read More: ‘It’s the Legacy of Slavery’: Here’s the Troubling History Behind Tipping Practices in the U.S. From tipping on crushed ice to dinner at Chipotle, five consumers explore their relationship with tipping, and explain their tipping choices. Here’s what they said. (The following responses have been condensed and edited for clarity. The individuals featured asked to remain anonymous to protect their professional interests.) 26-year-old congressional staffer who makes $70,000 living in Washington, D.C. 60-year-old CEO of a consumer insights firm who makes over $300,000 living in Oviedo, Florida 30-year-old policy advisor who makes $120,000 living in Cambridge, Massachusetts 60-year-old consultant who makes $60,000 living in The Woodlands, Texas 27-year-old advocacy professional who makes $110,000 living in East Lansing, Michigan 26-year-old congressional staffer who makes $70,000 living in Washington, D.C. I try to tip fairly and well. I always tip reasonably at restaurants where I’ve received table service, and often when buying things at a counter—in part because the iPads present tipping options and it feels rude to click “no tip.” I never, ever carry cash, so I typically won’t tip at a hotel or after experiencing other interpersonal kinds of service (I recently went on a boat tour and they had a tip jar at the end). I feel bad about this, but not bad enough to start carrying cash. Also, as a teenager I was an ice cream scooper in a touristy destination and most of my income was through tips, so I will always tip high school kids doing the hard manual labor of being covered in dairy product. Day 1: I went to coffee near the office with a coworker to complain about work. I got a chai latte and a feta and mushroom pastry, which cost $10.22. I paid with Apple Pay. The payment tablet prompted me to add a tip—$1 was the lowest option. I went out to dinner with two coworkers to continue complaining about work. I paid the check—$138.60—with a credit card, and they Venmoed me their share. The tip was calculated for me on the receipt. I paid 20%, which was $23.10 and the middle of the three options offered (the others were 18% and 22%). Day 2: I took an Uber that cost $42.39. I paid with a credit card saved to the app and tipped $4. I don’t intuitively think to tip Uber and Lyft drivers. I lived in San Francisco during the height of Uber’s VC funding, where traveling anywhere in the city was really cheap and tipping was not part of the app. I usually will tip drivers eventually, since I know that’s how they make much of their income, but I typically will do a few dollars, rather than the pre-suggested 20%, particularly on expensive rides. I ordered sushi takeout that cost $15.24. I paid with a credit card and tipped 20%, which was $2.79. We ordered takeout and paid at the counter. The receipt had boxes on it: 15%, 18%, and 20%. I checked 20% and told my friend about how I’m working on this tipping diary. She said “I would never tip for takeout, they didn’t serve us.” Day 3: For lunch, I had surprisingly good airport food from a counter serve place, which cost $16.02. I paid with Apple Pay and tipped $1.92, which was the lowest option of the pre-set amounts. I do think cashiers deserve to be tipped, and, again, it’s hard to click the “no tip” button. I took an Uber from the airport to my friend’s house, which cost $38.59. I paid with a credit card saved to the app and tipped $4. Do people tip on Ubers? Am I being cheap here? Day 4: I got two coffees that cost $8.85 in total. I paid by tapping my phone to the payment tablet and tipped $1.59, which was 18%. This was a coffee shop at a convenience store, but I practiced coffee shop etiquette and tipped. Lunch cost $16.81. I paid with Apple Pay on a tablet and tipped $3.03, which was 18% and the middle option on the tablet. Then, I got shaved ice that cost $9.11. I paid by tapping my phone to the payment tablet and tipped $1, which was the cheapest of the pre-selected options. Later, I got cookies and pie that cost $14.41. I paid with Apple Pay on a tablet and tipped $2.16, which was 15%. In retrospect, I feel a little silly tipping for this—we grabbed a piece of pie out of a fridge and a package of cookies off a shelf and brought them to the counter to pay. Day 5: I bought coffees—they cost $12.42. I paid with my phone and tipped $1.86 (15%—the middle option). Later on, I got post-drinks pizza that cost $7.33. I paid by tapping my phone to the payment tablet and tipped $1.32 (18%). This was actually the worst pizza I’ve ever had in my life. Day 6: I got udon soup for dinner that cost $22.05. I ordered online and there was not an option to tip on this transaction! Later, I bought shaved ice for $7.55. I paid with Apple Pay and tipped $1.36, which was 18%. This wasn’t actually very good shaved ice. Day 7: I got sushi takeout for dinner that cost $15.56. I paid with Apple Pay on a tablet and tipped $3.11, which was 20%. This was a counter-service situation, but I could see the workers behind the counter making the rolls themselves to order! I took a Lyft to the airport that cost $32.82. I paid with a credit card saved to the app and tipped $4.92. This Lyft driver was particularly friendly and delightful, so I tipped more than I typically would. I got airport mac and cheese that cost $13.72. I paid with Apple Pay on a tablet and tipped $2.06, which was the lowest option of the pre-set amounts. After my flight, I took another Lyft that cost $10.99. I paid with a credit card saved to the app but I didn’t mean to not tip! I must have clicked out of the app without doing so. I don’t see a way to retroactively add a tip. Total in tips at the end of the week: $59.22 60-year-old CEO of a consumer insights firm who makes over $300,000 living in Oviedo, Florida I generally tip for service when the staff has done some “work,” like at a sit down restaurant or at a hairdresser where a personal service was provided. I’ll generally tip 15%-25% depending on the quality of the overall experience as well as the personal attention provided by the staff. Recognizing that servers in restaurants rely on their tips to make up for a below-market wage, I’ll tend to go on the higher side provided they show interest in earning it, with the minimum being 15%.I don’t like to tip in situations where there isn’t an extra element of service, like at a fast food place or, my pet peeve, at my dermatologist! I’ve noticed more institutions asking for a “tip” to be added to the bill with options starting at 18%. I don’t believe I should be tipping someone that is paid to do the job they are doing and the job is “put that pastry into a box and give it to the customer.” Also, I’m never quite sure who that tip goes to, so that is another reason for me not to tip. My general view is pay your staff a fair wage and then charge me accordingly. Don’t ask me to subsidize their wages or, worse, add to your bottom line by shaming me into a tip. Day 1: I got dinner at a local taco joint. It cost $43.23. I paid with a card and tipped $6.77 to take it up to $50. I generally tip 15% and round things off—it’s easier for me when reviewing charges on the back end. Day 2: N/A Day 3: I got carry-out baked goods from a local bakery. I paid cash for the goods ($11.60) then put $2 in the tip jar. They did a great job explaining how the two items compared and packed them in a box really well. They were very pleasant and polite. I generally would just have tipped $1. Day 4: I bought carry-out Indian food for $78.43, which I paid with a card. I don’t feel like carry-out in a dine-in restaurant warrants a tip. There is no element of service that I experience. I’ll occasionally tip 10% if the option is there on the screen to tap, but these guys gave 25%, 22%, and 18% along with “other.” The ridiculousness of thinking I’ll give a tip when their staff has to do zero work and making that above the norm annoyed me. Day 5: N/A Day 6: N/A Day 7: N/A Total in tips at the end of the week: $8.77 30-year-old policy advisor who makes $120,000 living in Cambridge, Massachusetts I’ll always tip in situations in which it’s clear it’s expected of me. I’ll also tip if I pay after receiving a service, and I thought it was good. I’m more likely to tip if I like the employee(s) I’m dealing with or like and/or frequent the establishment. Day 1: I went to Chipotle for a chicken burrito bowl with a fountain soda, which cost $16.16. I paid with a card and did not leave a tip. I go here for lunch at least once a week. The staff were friendly today. They did give me a scoop of mild salsa when I asked only for the spicy, but I wasn’t going to tip anyway. I just don’t get the sense that I’m expected to at fast casual places like that. Day 2: I went back to the same Chipotle as before and got another chicken burrito bowl with a fountain soda for $16.16. I paid with a card and did not leave a tip. Day 3: I went back to the same Chipotle again and got a steak burrito bowl with a fountain soda for $18.03. I paid with a card and did not leave a tip. Day 4: I got coffee and a breakfast sandwich from my locally owned coffee shop for $9.76. The employees know me by name there so I paid with a card and tipped $1.95. I love this coffee shop—I go there regularly, and I feel it’s expected to tip at coffee shops. For lunch, I went back to the same Chipotle and got another chicken burrito bowl for $16.16. I paid with a card and did not leave a tip. I took an Uber that cost $17.58. My driver was prompt and polite so I paid with a card, gave five stars, and tipped $1.76 which was 10%. I had dinner at a restaurant before going to see a play that cost $70.80. I paid with a card and tipped $14, which was 20%. I always tip 20% for meals with servers unless the service is especially bad. After the play I had drinks at a bar that cost $38.70. I paid with a card and tipped $7, which was 20%. I always tip 20% for drinks. I took another Uber home that cost $16.59. My driver was prompt and didn’t, like, say anything rude during the ride so I gave him five stars and a 10% tip ($1.66). Day 5: I got a black coffee from the local coffee shop I love for $3.80. I paid with a card, but did not leave a tip this time. I wasn’t really thinking about it in the moment, but I think it was because I just got a black coffee and there’s not much that goes into preparing that. For breakfast, I went to a fast casual place I had never tried before and got another coffee and a breakfast sandwich for $9.85. I paid with a card and tipped $1.97, which was 15%. After that, I stopped on a long bike ride and got a salad for $14.99 from a locally owned place. I paid with a card, but did not leave a tip. I like to tip at locally owned places, but I saw that the salads were pre-made when I was checking out, which I didn’t like. Honestly, it was also probably because I knew I’d never go back there. I went back to the same Chipotle for lunch, and got a steak burrito bowl for $18.03. I paid with a card and did not leave a tip. Day 6: I went back to my regular local coffee shop and got coffee and a breakfast sandwich for $14.03. I paid with a card and tipped $1.83 which was 15% as usual. Later, I got drinks at Topgolf (the indoor driving range) that cost $28.09. The service was fine, so I tipped 20% ($4.70) as per usual. Day 7: I got a turkey sandwich, water and chips for lunch at a ski lodge cafeteria for $15.41. I paid with a card and did not leave a tip since there was no service and the food wasn’t made to order. Later, I had dinner which included a sandwich and two beers and cost $33.81. Since there was table service, I paid with a card and tipped $5.60, which was 20%. Total in tips at the end of the week: $40.47 60-year-old consultant who makes $60,000 living in The Woodlands, Texas At places where I stand in a line to order—fast casual places—I tip 10%-15%. I tip 20% if I am getting good table service. I don’t tip for take out. Day 1: I went to Nando’s in Houston. I paid $23.98 with my card, and tipped $3.89. It was a quick lunch and there was no table service. Day 2: I had a casual dinner with friends at Palette Indian Kitchen. It cost $67.12 and I tipped $13.42—the table service was good. Day 3: I got a quick lunch back at the Kitchen. I paid $16.24 on card and tipped $2.44—no table service. Day 4: I went for dinner at Oporto, a local restaurant. I paid $390.50 on my card and tipped $78.10—it was my treat. We were a party of eight so the tip was automatic. I did not mind paying the 20% since the service was good. Day 5: N/A Day 6: N/A Day 7: N/A Total in tips at the end of the week: $97.85 27-year-old advocacy professional who makes $110,000 living in East Lansing, Michigan People deserve to be paid for their work. I used to tip 20% on basically everything, back when you would only be asked to tip in a small number of places. I still tip 20% for any sit down meal service, bartender, rideshare, and delivery, but now I don’t tip for takeout, or checking out at coffee shops unless there’s like a specific reason to. I also believe that the wage should be on the establishment, not the customers, and I would much rather pay a bit extra for the base price, and know that every staffer is paid a consistent or fair rate, than having tipping allowing businesses to skirt paying their people. I know this is different for servers specifically, who make more on average, but tipping has extended far beyond servers at this point. Day 1: I got dinner from Chipotle, which cost $9. The woman working was nice, and the guy in front of me was rude to her, so I paid with a card and left a $2 tip. She was also generous with portions, which deserves a tip at Chipotle. I also picked up takeout sushi for my wife for $26. I paid with a card and did not leave a tip—I just don’t see a reason to tip on takeout. Day 2: I went to a local taco restaurant for lunch and paid $18.99. Since it was a sit-down restaurant, I paid with a card and tipped $5.01, which was close to 20%. I added an extra cent because whole numbers make my brain feel good. I picked up Pad Thai takeout for my wife. It cost $10.50, I paid with a card and did not leave a tip since it was takeout. I went to CVS and bought masks for a man outside the store for $15.89. I paid with a card and did not leave a tip. There was a donation screen, but since I was quite literally buying something for a random man on the street, I felt like I didn’t need to add a donation on top of that. Day 3: I bought movie tickets, popcorn, and a drink for $39.96. I paid with a card, but did not leave a tip when prompted. I don’t feel I need to tip in situations like cafeteria-style or movie theaters. After the movie, I went to a bar and had drinks that cost $12.44. Since there was a bartender, I paid with a card and tipped $3, which was around 20%. Sometimes I tip based on how many drinks I’ve ordered rather than a flat percentage. I’ll do a dollar a drink or something, but this time I just tipped doing quick math, which was around 20%. Day 4: I went for lunch at a Chipotle-style restaurant called Los Amigos Taqueria and got food that cost $12.57. The person working was nice so when the tablet prompted tip amounts of $1, $1.50 and $2, I went in the middle. I went out to dinner, which cost $68.90. Since it was full service, I paid with a card and calculated 20% on my phone which came out to $13.79. I think I literally did the calculations on my phone for this. I don’t have a strong reason for why I did this, but just did. Day 5: I got food from a cafeteria that cost $21.60. When I was asked to tip at checkout, I paid with a card but I did not leave a tip. I was actually a little taken back. I went to a cafeteria where I had to pick out my own food and was asked for a tip at checkout. It’s like if I were to go grocery shopping and then was asked for a tip from the cashier. Later, I went to a restaurant with 15 people and put it all on my card—it cost $664.20. The others Venmoed me later. The tablet prompted 18%, 20% and 25% so I hit 20% which was $132.84. Day 6: I went to breakfast at a cafe in Portland on the drive back to Brighton from a ski trip in Maine, and had food that cost $21.19. Since it was a sit-down cafe with a server, I paid with a card and tipped $5 which was close to 20%. I had to leave quickly so I tipped fast. Day 7: I bought a takeout salad that cost $16.48. Since it was takeout, I paid with a card and did not leave a tip. Later, I went to a cafe in Brighton, where I was staying with a friend, and had food that cost $23.75. Since it was a sit-down with a server, I paid with a card and tipped $6.50 which was around 20% calculated quickly. Total in tips at the end of the week: $169.64.....»»
How Much Should You Tip? 5 People Share Their Habits
Five people share their tipping habits over the course of one week If you feel like you’re being asked to tip more often than ever, you’re not alone. A November report by the Pew Research Center found that 72% of Americans say that tipping is expected in more places today than it was five years ago. From self-service kiosks to fast casual restaurants to grab-and-go cafes, options to tip are everywhere. To better understand tipping culture, TIME asked five people to track their spending over the course of a week, and share what they tipped on and why. [time-brightcove not-tgx=”true”] Gig workers and waitstaff often rely on tips to make a living. But Americans increasingly feel that tipping culture has gone too far. Another survey by consumer financial services company Bankrate found that around two in three U.S. adults have a negative view about tipping, and that 41% of U.S. adults think businesses should just pay their employees better, so that they don’t have to rely so heavily on tips. Tipping is thought to have its roots in ancient Rome, but in its modern form it’s believed to have originated in Tudor England. In the 19th century, when wealthy Americans returned from travels in Europe, they began tipping out of a desire to appear aristocratic. At first, the practice was strongly opposed by most diners, who argued that it was contrary to the American ideal of a society without stratification by social class. But tipping stuck, in part because business owners stood to benefit, as the practice shifts some of the burden of paying servers onto customers. Read More: ‘It’s the Legacy of Slavery’: Here’s the Troubling History Behind Tipping Practices in the U.S. From tipping on crushed ice to dinner at Chipotle, five consumers explore their relationship with tipping, and explain their tipping choices. Here’s what they said. (The following responses have been condensed and edited for clarity. The individuals featured asked to remain anonymous to protect their professional interests.) 26-year-old congressional staffer who makes $70,000 living in Washington, D.C. 60-year-old CEO of a consumer insights firm who makes over $300,000 living in Oviedo, Florida 30-year-old policy advisor who makes $120,000 living in Cambridge, Massachusetts 60-year-old consultant who makes $60,000 living in The Woodlands, Texas 27-year-old advocacy professional who makes $110,000 living in East Lansing, Michigan 26-year-old congressional staffer who makes $70,000 living in Washington, D.C. I try to tip fairly and well. I always tip reasonably at restaurants where I’ve received table service, and often when buying things at a counter—in part because the iPads present tipping options and it feels rude to click “no tip.” I never, ever carry cash, so I typically won’t tip at a hotel or after experiencing other interpersonal kinds of service (I recently went on a boat tour and they had a tip jar at the end). I feel bad about this, but not bad enough to start carrying cash. Also, as a teenager I was an ice cream scooper in a touristy destination and most of my income was through tips, so I will always tip high school kids doing the hard manual labor of being covered in dairy product. Day 1: I went to coffee near the office with a coworker to complain about work. I got a chai latte and a feta and mushroom pastry, which cost $10.22. I paid with Apple Pay. The payment tablet prompted me to add a tip—$1 was the lowest option. I went out to dinner with two coworkers to continue complaining about work. I paid the check—$138.60—with a credit card, and they Venmoed me their share. The tip was calculated for me on the receipt. I paid 20%, which was $23.10 and the middle of the three options offered (the others were 18% and 22%). Day 2: I took an Uber that cost $42.39. I paid with a credit card saved to the app and tipped $4. I don’t intuitively think to tip Uber and Lyft drivers. I lived in San Francisco during the height of Uber’s VC funding, where traveling anywhere in the city was really cheap and tipping was not part of the app. I usually will tip drivers eventually, since I know that’s how they make much of their income, but I typically will do a few dollars, rather than the pre-suggested 20%, particularly on expensive rides. I ordered sushi takeout that cost $15.24. I paid with a credit card and tipped 20%, which was $2.79. We ordered takeout and paid at the counter. The receipt had boxes on it: 15%, 18%, and 20%. I checked 20% and told my friend about how I’m working on this tipping diary. She said “I would never tip for takeout, they didn’t serve us.” Day 3: For lunch, I had surprisingly good airport food from a counter serve place, which cost $16.02. I paid with Apple Pay and tipped $1.92, which was the lowest option of the pre-set amounts. I do think cashiers deserve to be tipped, and, again, it’s hard to click the “no tip” button. I took an Uber from the airport to my friend’s house, which cost $38.59. I paid with a credit card saved to the app and tipped $4. Do people tip on Ubers? Am I being cheap here? Day 4: I got two coffees that cost $8.85 in total. I paid by tapping my phone to the payment tablet and tipped $1.59, which was 18%. This was a coffee shop at a convenience store, but I practiced coffee shop etiquette and tipped. Lunch cost $16.81. I paid with Apple Pay on a tablet and tipped $3.03, which was 18% and the middle option on the tablet. Then, I got shaved ice that cost $9.11. I paid by tapping my phone to the payment tablet and tipped $1, which was the cheapest of the pre-selected options. Later, I got cookies and pie that cost $14.41. I paid with Apple Pay on a tablet and tipped $2.16, which was 15%. In retrospect, I feel a little silly tipping for this—we grabbed a piece of pie out of a fridge and a package of cookies off a shelf and brought them to the counter to pay. Day 5: I bought coffees—they cost $12.42. I paid with my phone and tipped $1.86 (15%—the middle option). Later on, I got post-drinks pizza that cost $7.33. I paid by tapping my phone to the payment tablet and tipped $1.32 (18%). This was actually the worst pizza I’ve ever had in my life. Day 6: I got udon soup for dinner that cost $22.05. I ordered online and there was not an option to tip on this transaction! Later, I bought shaved ice for $7.55. I paid with Apple Pay and tipped $1.36, which was 18%. This wasn’t actually very good shaved ice. Day 7: I got sushi takeout for dinner that cost $15.56. I paid with Apple Pay on a tablet and tipped $3.11, which was 20%. This was a counter-service situation, but I could see the workers behind the counter making the rolls themselves to order! I took a Lyft to the airport that cost $32.82. I paid with a credit card saved to the app and tipped $4.92. This Lyft driver was particularly friendly and delightful, so I tipped more than I typically would. I got airport mac and cheese that cost $13.72. I paid with Apple Pay on a tablet and tipped $2.06, which was the lowest option of the pre-set amounts. After my flight, I took another Lyft that cost $10.99. I paid with a credit card saved to the app but I didn’t mean to not tip! I must have clicked out of the app without doing so. I don’t see a way to retroactively add a tip. Total in tips at the end of the week: $59.22 60-year-old CEO of a consumer insights firm who makes over $300,000 living in Oviedo, Florida I generally tip for service when the staff has done some “work,” like at a sit down restaurant or at a hairdresser where a personal service was provided. I’ll generally tip 15%-25% depending on the quality of the overall experience as well as the personal attention provided by the staff. Recognizing that servers in restaurants rely on their tips to make up for a below-market wage, I’ll tend to go on the higher side provided they show interest in earning it, with the minimum being 15%.I don’t like to tip in situations where there isn’t an extra element of service, like at a fast food place or, my pet peeve, at my dermatologist! I’ve noticed more institutions asking for a “tip” to be added to the bill with options starting at 18%. I don’t believe I should be tipping someone that is paid to do the job they are doing and the job is “put that pastry into a box and give it to the customer.” Also, I’m never quite sure who that tip goes to, so that is another reason for me not to tip. My general view is pay your staff a fair wage and then charge me accordingly. Don’t ask me to subsidize their wages or, worse, add to your bottom line by shaming me into a tip. Day 1: I got dinner at a local taco joint. It cost $43.23. I paid with a card and tipped $6.77 to take it up to $50. I generally tip 15% and round things off—it’s easier for me when reviewing charges on the back end. Day 2: N/A Day 3: I got carry-out baked goods from a local bakery. I paid cash for the goods ($11.60) then put $2 in the tip jar. They did a great job explaining how the two items compared and packed them in a box really well. They were very pleasant and polite. I generally would just have tipped $1. Day 4: I bought carry-out Indian food for $78.43, which I paid with a card. I don’t feel like carry-out in a dine-in restaurant warrants a tip. There is no element of service that I experience. I’ll occasionally tip 10% if the option is there on the screen to tap, but these guys gave 25%, 22%, and 18% along with “other.” The ridiculousness of thinking I’ll give a tip when their staff has to do zero work and making that above the norm annoyed me. Day 5: N/A Day 6: N/A Day 7: N/A Total in tips at the end of the week: $8.77 30-year-old policy advisor who makes $120,000 living in Cambridge, Massachusetts I’ll always tip in situations in which it’s clear it’s expected of me. I’ll also tip if I pay after receiving a service, and I thought it was good. I’m more likely to tip if I like the employee(s) I’m dealing with or like and/or frequent the establishment. Day 1: I went to Chipotle for a chicken burrito bowl with a fountain soda, which cost $16.16. I paid with a card and did not leave a tip. I go here for lunch at least once a week. The staff were friendly today. They did give me a scoop of mild salsa when I asked only for the spicy, but I wasn’t going to tip anyway. I just don’t get the sense that I’m expected to at fast casual places like that. Day 2: I went back to the same Chipotle as before and got another chicken burrito bowl with a fountain soda for $16.16. I paid with a card and did not leave a tip. Day 3: I went back to the same Chipotle again and got a steak burrito bowl with a fountain soda for $18.03. I paid with a card and did not leave a tip. Day 4: I got coffee and a breakfast sandwich from my locally owned coffee shop for $9.76. The employees know me by name there so I paid with a card and tipped $1.95. I love this coffee shop—I go there regularly, and I feel it’s expected to tip at coffee shops. For lunch, I went back to the same Chipotle and got another chicken burrito bowl for $16.16. I paid with a card and did not leave a tip. I took an Uber that cost $17.58. My driver was prompt and polite so I paid with a card, gave five stars, and tipped $1.76 which was 10%. I had dinner at a restaurant before going to see a play that cost $70.80. I paid with a card and tipped $14, which was 20%. I always tip 20% for meals with servers unless the service is especially bad. After the play I had drinks at a bar that cost $38.70. I paid with a card and tipped $7, which was 20%. I always tip 20% for drinks. I took another Uber home that cost $16.59. My driver was prompt and didn’t, like, say anything rude during the ride so I gave him five stars and a 10% tip ($1.66). Day 5: I got a black coffee from the local coffee shop I love for $3.80. I paid with a card, but did not leave a tip this time. I wasn’t really thinking about it in the moment, but I think it was because I just got a black coffee and there’s not much that goes into preparing that. For breakfast, I went to a fast casual place I had never tried before and got another coffee and a breakfast sandwich for $9.85. I paid with a card and tipped $1.97, which was 15%. After that, I stopped on a long bike ride and got a salad for $14.99 from a locally owned place. I paid with a card, but did not leave a tip. I like to tip at locally owned places, but I saw that the salads were pre-made when I was checking out, which I didn’t like. Honestly, it was also probably because I knew I’d never go back there. I went back to the same Chipotle for lunch, and got a steak burrito bowl for $18.03. I paid with a card and did not leave a tip. Day 6: I went back to my regular local coffee shop and got coffee and a breakfast sandwich for $14.03. I paid with a card and tipped $1.83 which was 15% as usual. Later, I got drinks at Topgolf (the indoor driving range) that cost $28.09. The service was fine, so I tipped 20% ($4.70) as per usual. Day 7: I got a turkey sandwich, water and chips for lunch at a ski lodge cafeteria for $15.41. I paid with a card and did not leave a tip since there was no service and the food wasn’t made to order. Later, I had dinner which included a sandwich and two beers and cost $33.81. Since there was table service, I paid with a card and tipped $5.60, which was 20%. Total in tips at the end of the week: $40.47 60-year-old consultant who makes $60,000 living in The Woodlands, Texas At places where I stand in a line to order—fast casual places—I tip 10%-15%. I tip 20% if I am getting good table service. I don’t tip for take out. Day 1: I went to Nando’s in Houston. I paid $23.98 with my card, and tipped $3.89. It was a quick lunch and there was no table service. Day 2: I had a casual dinner with friends at Palette Indian Kitchen. It cost $67.12 and I tipped $13.42—the table service was good. Day 3: I got a quick lunch back at the Kitchen. I paid $16.24 on card and tipped $2.44—no table service. Day 4: I went for dinner at Oporto, a local restaurant. I paid $390.50 on my card and tipped $78.10—it was my treat. We were a party of eight so the tip was automatic. I did not mind paying the 20% since the service was good. Day 5: N/A Day 6: N/A Day 7: N/A Total in tips at the end of the week: $97.85 27-year-old advocacy professional who makes $110,000 living in East Lansing, Michigan People deserve to be paid for their work. I used to tip 20% on basically everything, back when you would only be asked to tip in a small number of places. I still tip 20% for any sit down meal service, bartender, rideshare, and delivery, but now I don’t tip for takeout, or checking out at coffee shops unless there’s like a specific reason to. I also believe that the wage should be on the establishment, not the customers, and I would much rather pay a bit extra for the base price, and know that every staffer is paid a consistent or fair rate, than having tipping allowing businesses to skirt paying their people. I know this is different for servers specifically, who make more on average, but tipping has extended far beyond servers at this point. Day 1: I got dinner from Chipotle, which cost $9. The woman working was nice, and the guy in front of me was rude to her, so I paid with a card and left a $2 tip. She was also generous with portions, which deserves a tip at Chipotle. I also picked up takeout sushi for my wife for $26. I paid with a card and did not leave a tip—I just don’t see a reason to tip on takeout. Day 2: I went to a local taco restaurant for lunch and paid $18.99. Since it was a sit-down restaurant, I paid with a card and tipped $5.01, which was close to 20%. I added an extra cent because whole numbers make my brain feel good. I picked up Pad Thai takeout for my wife. It cost $10.50, I paid with a card and did not leave a tip since it was takeout. I went to CVS and bought masks for a man outside the store for $15.89. I paid with a card and did not leave a tip. There was a donation screen, but since I was quite literally buying something for a random man on the street, I felt like I didn’t need to add a donation on top of that. Day 3: I bought movie tickets, popcorn, and a drink for $39.96. I paid with a card, but did not leave a tip when prompted. I don’t feel I need to tip in situations like cafeteria-style or movie theaters. After the movie, I went to a bar and had drinks that cost $12.44. Since there was a bartender, I paid with a card and tipped $3, which was around 20%. Sometimes I tip based on how many drinks I’ve ordered rather than a flat percentage. I’ll do a dollar a drink or something, but this time I just tipped doing quick math, which was around 20%. Day 4: I went for lunch at a Chipotle-style restaurant called Los Amigos Taqueria and got food that cost $12.57. The person working was nice so when the tablet prompted tip amounts of $1, $1.50 and $2, I went in the middle. I went out to dinner, which cost $68.90. Since it was full service, I paid with a card and calculated 20% on my phone which came out to $13.79. I think I literally did the calculations on my phone for this. I don’t have a strong reason for why I did this, but just did. Day 5: I got food from a cafeteria that cost $21.60. When I was asked to tip at checkout, I paid with a card but I did not leave a tip. I was actually a little taken back. I went to a cafeteria where I had to pick out my own food and was asked for a tip at checkout. It’s like if I were to go grocery shopping and then was asked for a tip from the cashier. Later, I went to a restaurant with 15 people and put it all on my card—it cost $664.20. The others Venmoed me later. The tablet prompted 18%, 20% and 25% so I hit 20% which was $132.84. Day 6: I went to breakfast at a cafe in Portland on the drive back to Brighton from a ski trip in Maine, and had food that cost $21.19. Since it was a sit-down cafe with a server, I paid with a card and tipped $5 which was close to 20%. I had to leave quickly so I tipped fast. Day 7: I bought a takeout salad that cost $16.48. Since it was takeout, I paid with a card and did not leave a tip. Later, I went to a cafe in Brighton, where I was staying with a friend, and had food that cost $23.75. Since it was a sit-down with a server, I paid with a card and tipped $6.50 which was around 20% calculated quickly. Total in tips at the end of the week: $169.64.....»»
New bakery has opened in Downtown Honolulu
An international bakery chain opened its first store in the state in Downtown Honolulu, with plans to add several more in the future......»»
20 Biggest Snack Companies in the World
In this piece, we will look at 20 Biggest Snack Companies in the World. If you want to skip our analysis on the global snack food market, you can go directly to 5 Biggest Snack Companies in the World. So, the snack food market is on the up and up. It’s expected to go from […] In this piece, we will look at 20 Biggest Snack Companies in the World. If you want to skip our analysis on the global snack food market, you can go directly to 5 Biggest Snack Companies in the World. So, the snack food market is on the up and up. It’s expected to go from $236.91 billion in 2023 to $252.36 billion in 2024, with a growth rate of 6.5%. And looking ahead, by 2028, it’s predicted to hit $317.43 billion, growing at a rate of 5.9%. Snack time just keeps getting bigger and better. The snack game is getting more exciting with new flavors and shapes popping up, and more people are reaching for those healthier low-calorie options. It’s all about snacking smart and enjoying every bite! Nestlé rocked the snack market in 2023 with sales hitting around $103.9 billion. So, after Nestlé in the snack and bakery realm, we’ve got PepsiCo strutting their stuff, earning $86.4 billion in the same year. With Frito-Lay under their wing, they’re the big shots in the U.S. snack market, dishing out all those yummy chips and snacks. According to YouGov, M&M’s is ranked as the most popular snack item in the U.S. as of 2023. Chips and Crackers are found to be the most unhealthy snacks eaten in the U.S. Potato chips might hit the spot when you’re craving something crunchy, but they’re not exactly a nutritional powerhouse. And crackers, well, they might not keep those hunger pangs at bay for long. They’re low on fiber, high in sodium, and they won’t give you that energy boost you need to power through the afternoon. So, while they might be tasty, don’t expect them to keep you feeling satisfied and energized for long! Hence, the global healthy snacks market is on the rise. It’s predicted to hit a whopping $152.55 billion by 2030, cruising along at a cool 6.7% growth rate from 2023 to 2030. People are really getting into the whole healthy snacking vibe lately. They’re all about snacks that are not just convenient, but also packed with all the good stuff like essential vitamins and proteins, while keeping those pesky calories in check. And with everyone being on the go these days, the demand for quick snacks is shooting up. Plus, more folks have the cash to splash on these tasty, good-for-you treats, so the snack industry is set to keep booming in the years to come. A closeup of a variety of snack pies, fresh out of the oven, on a silverplatter. Methodology To curate our list of 20 Biggest Snack Companies in the World, we looked up Finviz to list down and rank the 20 Biggest Snack Companies in the World. Please note, Mars Inc. is included for their strong reputation and name in the snacking industry, despite it not being a publicly-listed company. Rest are all ranked upon the market capitalization, as gathered from Finviz. With this, let’s jump to our list of 20 Biggest Snack Companies in the World. By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders. 20. Mars Inc. Market Capitalization: N/A As one of the world’s largest snack companies, Mars Inc. is a prominent player in the snacking industry, even though it is privately owned. Known for creating brands that bring moments of happiness, Mars’ products such as M&M’S®, SNICKERS®, ORBIT®, EXTRA®, Skittles®, and KIND® are enjoyed globally since so many decades, few of which were invented a century ago. In 2023, Mars generated $50 billion in revenue, with $18 billion from its snacking division, encompassing popular candies, chewing gum brands, and nutrition bars. Mars aims to double its snacking revenue to $36 billion in the coming decade, as revealed in its strategy to Forbes. 19. PT Siantar Top Tbk (ISX:STTP) Market Capitalization: $838 million PT Siantar Top Tbk (ISX:STTP), one of the major snack companies worldwide, is an Indonesian snack and consumer goods company based in Sidoarjo, East Java. They’ve got a cool lineup of snacks like Spix Soba Mie Sedap, Mie Gemez & Gemez Enaak, Twistko, and more. In September 2023, PT Siantar Top Tbk (ISX:STTP) operating income hit $19.1 million for the quarter, and $65.9 million for the trailing twelve months. 18. JBS S.A. (Other OTC:JBSAY) Market Capitalization: $1.21 billion JBS S.A. (Other OTC:JBSAY) has grown into a snack giant, blending Indian sweets and snacks with an African flair that Londoners just can’t get enough of! From traditional treats to fiery snacks, they’ve got something for everyone. But even with all that tasty success, in the fiscal third quarter ending 30 September 2023, JBS S.A. (Other OTC:JBSAY) saw a dip in net income by a solid 84.7% compared to the previous year, landing at $117.3 million. Their net revenue for the quarter was at $18.7 billion, just a slight drop from $18.8 billion a year ago. Despite the stumble, JB Foods is still stirring up big flavors in the snack world! 17. WK Kellogg Co (NYSE:KLG) Market Capitalization: $1.36 billion Kellanova is this huge American snack powerhouse based in Chicago, Illinois. Their subsidiary WK Kellogg Co (NYSE:KLG) serves up iconic treats like Cheez-It, Pringles, Pop-Tarts, Eggo, and more! After their latest earnings report, ten big shot analysts are eyeing WK Kellogg Co (NYSE:KLG) 2024 revenues to hit US$2.71 billion, staying consistent with the past year. And hey, the word on the street is that their earnings per share are set to grow by a tasty 12% to reach US$1.44. 16. Utz Brands, Inc. (NYSE:UTZ) Market Capitalization: $1.44 billion Utz Brands, Inc. (NYSE:UTZ), based in Hanover, Pennsylvania, is one of the snack giants in the game. They whip up all kinds of tasty treats like potato chips and pretzels, selling them under their big family of brands. Utz Brands, Inc. (NYSE:UTZ) is the go-to for warehouse clubs and stores looking to stock up on snacks. Recently, they’ve made a deal to sell off some assets and brands to Our Home for a cool USD 182.5 million. The sale is set to wrap up on February 5, 2024. Utz is keeping things crispy and delicious in the snack world! 15. ORION Corp. (KSE:271560.KS) Market Capitalization: $2.7 billion ORION Corp. (KSE:271560.KS), a big shot in the snack world, hails from South Korea and is famous for its iconic Choco Pie. This confectionery powerhouse, born in 1956 as Tongyang Confectionery Corp., cranks out all kinds of treats like biscuits, cookies, crackers, and more. In the first nine months of 2023, ORION Corp. (KSE:271560.KS) raked in a sweet profit of $42.2 million from its Vietnam operations for the nine month, marking an 8.6% jump from the previous year. Their total sales in Vietnam hit $243.9 million, up 3.2%. Looks like Orion’s keeping the snack game strong! 14. CJ Cheiljedang Corporation (KSE:097950.KS) Market Capitalization: $3.42 billion CJ Cheiljedang Corporation (KSE:097950.KS) is this rad South Korean food company that’s all about serving up tasty treats, healthy snacks, and even some cool biotech stuff from Seoul. CJ Cheiljedang Corporation (KSE:097950.KS) brand CJ Foods has these awesome goodies like their modern take on fried seaweed, Matbam with natural chestnuts, and Petitzel for all your dessert dreams. And guess what? They crushed it with a 2023 fourth-quarter net profit of $114.4 million, a whopping 99.1% jump from last year. Their operating income also saw a nice 24% increase to $225.4 million, but sales took a tiny dip by 3.7% to $5.5 billion. 13. The J. M. Smucker Company (NYSE:SJM) Market Capitalization: $4.42 billion The J. M. Smucker Company (NYSE:SJM), a snack heavyweight hailing from Orrville, Ohio, has been dishing out delicious treats since way back in 1897, starting with their famous apple butter. In the second quarter of 2023 ending October, they hit a bump with a $266.5 million drop in net sales, but when you factor out pet food sales from last year and some currency exchange hiccups, their net sales actually went up by $121.0 million, a solid 7% rise. Smuckers is still rockin’ the snack game! Oh, and The J. M. Smucker Company (NYSE:SJM) recently sealed the deal to acquire Hostess Brands, which has a yummy lineup of sweet treats like Twinkies and Donettes. 12. Campbell Soup Company (NYSE:CPB) Market Capitalization: $12.5 billion 12th on our list of Biggest Snack Companies in the World is Campbell Soup Company. As one of the largest snack companies globally, Campbell Soup Company (NYSE:CPB), known as Campbell’s, offers a diverse range of snack products including Goldfish®, Pepperidge Farm® Cookies, Pace® Salsa & Sauces, Kettle Brand, Milano Cookies, Archway, Pretzel Crisps®, Cape Cod®, and Snyder’s of Hanover. In the quarter ending January 31, 2024, Campbell Soup Company (NYSE:CPB) recorded a gross profit of $776 million, marking a 2.24% year-over-year increase. The annual gross profit for the twelve months ending January 31, 2024, totaled $2.888 billion, reflecting a 2.09% increase from the previous year. In 2023, their annual gross profit reached $2.917 billion, showing an 11.04% increase from 2022. 11. Conagra Brands, Inc. (NYSE:CAG) Market Capitalization: $13.55 billion Conagra Brands, Inc. (NYSE:CAG), based in Chicago, is a snack powerhouse with a lineup of awesome brands like Birds Eye, Duncan Hines, Healthy Choice, and more that you’ll find in stores, restaurants, and food service spots worldwide. In the second quarter of 2023 ending November, Conagra Brands, Inc. (NYSE:CAG) net sales took a slight hit, dropping 3.2% from the previous year, with organic net sales falling 3.4%. Their operating margin landed at 14.0%, showing a slight dip of 261 basis points from the prior year, while the adjusted operating margin was 15.9%, down by 108 basis points. Looks like Conagra is still cooking up big snack flavors! 10. Grupo Bimbo, S.A.B. de C.V. (BMV:BIMBOA.MX) Market Capitalization: $18.7 billion Grupo Bimbo, S.A.B. de C.V. (BMV:BIMBOA.MX) is one of the big dogs in the snack world, hailing from Mexico and making a splash in 33 countries across the globe. With a massive annual sales volume of $15 billion, they’re no small fry. Grupo Bimbo, S.A.B. de C.V. (BMV:BIMBOA.MX) snack lineup is stacked with over 100 brands and 13,000 products, including hits like Bimbo, Entenmann’s, and Sara Lee. But in the 4th quarter of 2023 ending 31 December, their net income fell short at MXN3.26 billion, below the expected MXN4.76 billion. Their operating income also didn’t quite hit the mark, coming in at MXN8.15 billion instead of the estimated MXN9.22 billion. Bimbo’s still a snack giant, even if they hit a little bump in the road! Grupo Bimbo is 10th company on our list of Biggest Snack Companies in the World. 9. Tyson Foods, Inc. (NYSE:TSN) Market Capitalization: $19.91 billion One of the world’s largest snack companies, Tyson Foods, Inc. (NYSE:TSN), headquartered in Springdale, Arkansas, is a major player in the food industry. With a diverse range of products and brands such as Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp®, and State Fair®, the Tyson Foods, Inc. (NYSE:TSN) forecasts adjusted operating income of $800 million to $1 billion in fiscal 2024. Expectations include enhanced performance from international operations and a total company adjusted operating income of $1.0 billion to $1.5 billion for fiscal 2024. 8. Archer-Daniels-Midland Company (NYSE:ADM) Market Capitalization: $31.08 billion One of the leading snack companies globally, Archer-Daniels-Midland Company (NYSE:ADM), also known as ADM, is an American multinational food processing and commodities trading corporation established in 1902 and based in Chicago, Illinois. ADM’s diverse range of snack offerings, from meat snacks to puffed snacks, features global and spicy flavor profiles that are reshaping the snack industry. Anticipating adjusted earnings per share between $5.25 to $6.25 for 2024, Archer-Daniels-Midland Company (NYSE:ADM) factors in moderating margin conditions and increased costs balanced by enhanced volumes. Archer-Daniels-Midland Company is 6th company on our list of Biggest Snack Companies in the World. 7. General Mills, Inc. (NYSE:GIS) Market Capitalization: $37.5 billion As one of the largest snack companies globally, General Mills, Inc. (NYSE:GIS) promotes several popular North American brands, such as Gold Medal flour, Annie’s Homegrown, Lärabar, Cascadian Farm, Betty Crocker, Yoplait, Nature Valley, Totino’s, Pillsbury, Old El Paso, and Häagen-Dazs. General Mills, Inc. (NYSE:GIS) adjusted operating profit rose by 13%, reaching $989 million in constant currency, attributed to increased adjusted gross profit and decreased compensation and benefits expenses. The adjusted operating profit margin also improved by 240 basis points, reaching 19.3%. 6. The Hershey Company (NYSE:HSY) Market Capitalization: $39.95 billion 6th on our list of Biggest Snack Companies in the World is The Hershey Company. The Hershey Company (NYSE:HSY), a top player in the global snack industry, is a multinational confectionery giant located in Hershey, Pennsylvania, USA. Known for iconic brands like Hershey’s, The Hershey Company (NYSE:HSY) offers a wide array of delectable treats, from chocolates to mints. Hershey predicts a modest 2-3% increase in net sales for 2024, slightly under analysts’ 3.4% projection. The company also foresees stable annual adjusted profit per share compared to the previous year. Click to continue reading and find out about 5 Biggest Snack Companies in the World. Suggested Articles: 16 Largest Soda and Soft Drink Companies in The World Alternatives to Celsius Drink: 10 Best Energy Drinks 15 Highest Quality Pizza Chains in America Disclosure: None. 20 Biggest Snack Companies in the World is originally published on Insider Monkey......»»
Why a Burger Costs More Now
The factors driving the inflated cost of a classic meal—bite by bite The good news about inflation in recent months is that it’s slowing, but that probably doesn’t matter much to the American consumer; slowing inflation still means that prices are rising. The cost of groceries ticked up just 0.3% from the previous month in January, but has grown 28% since January 2019. No wonder Americans still get sticker shock when they look at their grocery bills. It may seem contrary that prices are still rising when so many of the events that kicked off the high inflation of recent years—the COVID-19 pandemic, the resulting supply chain headaches, the war in Ukraine—started years ago. But there are dozens of different factors that go into food inflation. [time-brightcove not-tgx=”true”] To explain these factors, TIME picked a meal that might be typically consumed by an American household—a cheeseburger and fries—and looked at what’s driving prices higher for different ingredients. We found that the cost of ingredients for a cheeseburger and fries—$4.69—is roughly a dollar more than in 2019, though just pennies from a year ago. Wells Fargo chief agricultural economist Michael Swanson explains the factors driving up prices bite by bite: White bread: Up 59% since 2019 Bread is one of the items that jumped the most in price since the beginning of the pandemic. The dollar figure isn’t much—a pound of white bread costs $2.03 now, up from $1.27 in January 2019, according to government data. What happened? Bread was really cheap for a long time, Swanson says. The price was so low that it essentially fell from 2014 to 2019, as cheap wheat and robust bakery competition forced bread makers to lower prices. The bread business was so tough that many bakeries went out of business or consolidated. Prices started rising at the beginning of the pandemic, but really jumped in early 2022 after Russia invaded Ukraine and the price of wheat spiked. The price of wheat has since cratered, but the Russian war gave producers an excuse to increase prices. For years, bakeries really needed the price of bread to go up to cover their labor, energy, and transportation costs, and finally, they had the opportunity. “Once the dam broke, it was going to be quite awhile for the inflation to go back down,” Swanson says. Processed cheese: Up 25% since 2019. In 2022, the price of milk was too low for farmers to make money, so they started culling their herds; cheese buyers, anticipating that there would be a shortage of cheese, started “leapfrogging each other to get supplies purchased,” Swanson says. That drove cheese prices up to their peak in April 2022. The same thing may be happening now, he says; a recent milk production report showed heavy signs of culling. Even if the price of cheese drops on commodities markets, it can take awhile for consumers to feel the difference. When cheese prices skyrocketed in 2022, retailers couldn’t raise prices that much, Swanson says. So when cheese prices fell back down, retailers tried to recover what they had lost. The price of processed cheese is still 25% above what it was in January 2019. Ground beef: Up 32% since 2019 In the beginning of 2024, there were only 87.2 million cattle and calves in the United States. That may seem like a lot of cows—roughly one for every four people in the U.S., but that number actually represents the lowest inventory since 1951. Fewer cows means higher prices for the ones that are getting sold and turned into meat. U.S. herds are at such low levels primarily because of drought and high supply costs. In the last four years, as drought plagued Texas, Oklahoma, Kansas, and other cattle-raising regions, farmers found that it was costing a lot of money to feed their cows. They started selling them—and, unusually, they also sold female cows, who would typically have been held back for breeding, according to economists from the American Farm Bureau Federation. Now, El Nino has brought moisture to much of the U.S., and farmers are trying to rebuild their herds. But doing so will be expensive, keeping the cost of beef high. While the U.S. had a record corn crop in 2023 and prices of feed are falling, some farmers are holding back cows they otherwise would have sold in order to rebuild their herds. With higher interest rates for borrowing and more expensive cows, beef prices aren’t likely going anywhere soon. In February, economists from the American Farm Bureau Federation predicted that 2024 would be characterized by record-high beef prices in the grocery store. Tomatoes: Down 1% from 2019 One of the only foods that have not experienced major price increases over the past four years. That’s in part because they were already expensive compared to other fruits and vegetables. But tomato prices are also affected by trade rules; ever since 2013, U.S. and Mexican producers have essentially agreed to set the price of tomatoes so one country’s farmers don’t have an advantage over another. Potatoes: Up 30% from 2019 Potato crops in 2021 and 2022 were severely affected by drought and wildfire smoke, reducing yields. With fewer potatoes in the U.S. and abroad, prices jumped. In 2023, though, U.S. potato production increased for the first time in seven years, which should temper prices. Romaine Lettuce: Up 19% from 2019 An insect-born virus destroyed huge swaths of lettuce crops in California in 2022, causing costs to spike. The price has fallen since then, but labor and transportation costs are still higher than in 2019, which means suppliers aren’t rushing to bring down prices further. You Won’t Save Money Dining Out Your restaurant burger is probably going to get more expensive, too, as wages continue to rise in a competitive job market. “Across the board, everything is just up,” says Brian Arnoff, the co-owner of Meyer’s Old Dutch, a hamburger restaurant in Beacon, N.Y., his restaurant has done two pricing increases since the pandemic, its burger now costs $16, up from $13 in 2019. For restaurants, though, labor accounts for much of the increased cost of food. Meyer’s Old Dutch can’t even get applicants to come to interviews unless he offers $18 an hour, significantly higher than the state minimum wage of $15 an hour. Wages across his business have climbed as he tries to retain talent; cooks who made $18 an hour in 2019 are now starting at $20. Until the pandemic, Arnoff says, the cost of food and other supplies surpassed the cost of labor. Now, he spends more on labor than on ingredients. .....»»
Looking for work, migrants turn to street vending
They're selling arepas outside migrant shelters, snacks and chocolate on CTA trains, and candy on city sidewalks. On a chilly late winter evening, the smell of cooked meat washed over the traffic backed up outside the Salt Shed music venue. The smell came from the folding tables and stools set up across the street, where several vendors were selling arepas, empanadas and pastelitos out of multicolored coolers. Benches and a shopping cart were packed with snacks and cans of Sprite and Fanta. Cigarettes were also available for sale, and the smell of smoke mixed with that of the Venezuelan street food. This is where Edwin Bravo was selling tequeños, outside the migrant shelter he’s staying in. Venezuelans more established in the city bring him the precooked food, and in return take a cut of the money, he said. But he expected to have enough customers to make a profit. The food at the shelter is terrible, he said, and he figured plenty of residents would take him up on his two-for-$5 special. And as dinnertime neared, the stub of a side street wedged between the music venue and Metra tracks filled with migrants hanging out and looking for a familiar meal from Bravo and the other vendors. The sounds of setup for the Jason Isbell concert at the Salt Shed mixed with the Spanish music playing on the street corner as the crowd grew. “The day I get a (work) permit, I’ll leave this place,” Bravo said in Spanish. “I’ll rent a home.” Bravo and the others set up on the West Town corner are one type of the street vendors who are becoming an increasingly familiar sight, as those newly arrived in the area look for opportunities to work. They are part of an informal economy that has gained visibility as more than 36,000 people have arrived in Chicago from the southern border since August 2022. The new arrivals are the latest additions to Chicago’s history of street vending. For years, immigrants to the city have sold tamales on street corners and out of coolers in bars. Paleteros have pushed carts in the city’s neighborhoods and at the lakefront, and eloteros have long been a staple of the city’s Mexican American neighborhoods. In recent months, other types of street vending have also become more visible. Men and women walk through CTA trains selling chocolates and candy out of decorated bins. On a recent afternoon, several women from Ecuador sat on street corners around the Loop, selling gum, M&Ms, Reese’s and Skittles. A migrant vendor holds candy in a CTA Blue Line train in Chicago on Feb. 22, 2024. (John J. Kim/Chicago Tribune) One of the sellers, Norma Allas, sat on a street corner with her 2-year-old daughter. She worked at a flower shop in Ecuador, but after facing few work opportunities there and increasing gang violence, she left, walking through jungle to the U.S., she said. She thought she would be able to find a job when she arrived in the States, but couldn’t get a work permit, she said. When she saw other people selling on the street, she decided to try it. “So, so many people are coming,” she said in Spanish. “And you have to pay for rent, for food.” Advocates say stories like Allas’ show the need to expand work opportunities to more immigrants, both those newly arriving and those who have been here for years. Some of the new arrivals are eligible for work permits, depending on a variety of factors such as the country they left, the circumstances under which they left and when they arrived. But others are not eligible, and even those who are sometimes must overcome hurdles, advocates said. Efforts have been made to speed up the process for those who are eligible, but in some cases it can still take months. The Biden administration has made efforts to address work eligibility for Venezuelans, in particular, who make up the majority of arriving migrants. That includes a move last fall to extend temporary protected status for Venezuelans who arrived before July 31, 2023, which fast-tracks their approval to work legally. The move was expected to cover an estimated 472,000 people nationally. A migrant mother sells candy while holding her daughter at the corner of State and Washington streets in Chicago on Feb. 22, 2024. (John J. Kim/Chicago Tribune) The Resurrection Project, a housing and immigration assistance agency based on the city’s Lower West Side, has held workshops to help some of those eligible get work authorization. So far, more than 1,900 work authorization cards have been issued to attendees, and U.S. Citizenship and Immigration Services is processing another roughly 2,000 applications, said Erendira Rendon, vice president of immigrant justice at the organization. But left out of the picture entirely are immigrants in the country without legal permission who have been living in the city for years, which has been a frustration for many advocates and immigrants, she said. “The eligibility criteria that has been set out has been very arbitrary and unfair,” she said. Work authorization can provide a pathway to better-paying jobs with better benefits, which means workers will pay taxes at a higher rate and have more opportunities to contribute to their community, said Diego Samayoa, associate director of Centro Romero, an Edgewater-based organization that works with refugees and immigrants. Expanding eligibility would not only help those seeking work, but the private sector, too, he said. Some business groups are also pushing to expand work authorization. Mark Denzler, president of the Illinois Manufacturers’ Association, said that nationally more than 600,000 manufacturing jobs are unfilled, including an estimated tens of thousands in Illinois. Many of the openings would be suitable for newly arrived migrants or immigrants who have lived in the U.S. for years without legal permission, if they were authorized to work in the country, he said. In the meantime, those arriving are finding other ways to work. Bravo, selling outside the Salt Shed, said he makes about $30 a day in profit. Getting work authorization and a stable job would help him save to rent a home, he said. Near Bravo’s cooler, Ruven Vartida sold pork, ham and egg arepas for $5 each. Vartida, 29, was a mechanic in Venezuela, but he began selling food after just days in the U.S. “It’s better to do this than nothing,” he said. Like Bravo, he purchased premade food from migrants and sold the arepas largely to other migrants, tapping into an informal ecosystem. He also buys Cokes at Walmart and sells them for $1, sometimes to migrants and sometimes to passersby. “I think all new beginnings are difficult,” he said. “No one comes to a new country with everything. Everything is a process, and you have to adapt and fight.” Chicago has long welcomed waves of immigrants, but the sheer number arriving in recent years, many with no family or support systems in the city, has perhaps made informal work more visible, said Megan Davis, director of legal services at social services nonprofit Erie House. Venezuelan migrant Rengi Jesus Faltime sells candy and soda near the Salt Shed concert venue on Feb. 29, 2024. (Chris Sweda/Chicago Tribune) Rengi Jesus Faltime, 33, turned to street vending to help support his wife and 5-year-old daughter. He has been in the U.S. about eight months, long enough to move out of a shelter and into a home, he said. But that means he has $550 in monthly rent to pay. Faltime worked at a shoe store in Venezuela and, on his journey north through the jungle, stopped for a time in Tapachula, Mexico, to work at a bakery and earn money. After he arrived in Chicago he worked for two months at a hotel but was laid off, he said. He looked for other work but struck out. So he and his wife decided he would sell arepas stuffed with breaded chicken, or chicken mixed with bacon and ham, and pastelitos that she cooked in their home. “I really don’t want to be on the street begging, and I don’t want to go back to a shelter either,” he said. “So the situation brought me here.” He intends to look for permanent work once the weather warms up. But so far, selling outside the migrant shelter nearly every day for four months, he has been able to pay rent. He and his wife search multiple stores for the most cost-effective ingredients to ensure they make a profit, he said. Some days he sells a few dozen arepas, and some days a few hundred. He strategically chose the corner across from the Salt Shed because it is visible to the street, and close to the shelter, he said. In an area surrounded by other Venezuelans, he knows the familiar food will be a hit. He often sells out in a matter of hours, even when there is a steady supply nearby from other vendors. Occasionally he also sells to other people walking by, he said. The business isn’t without risks. Sometimes police ask the vendors to clear out, saying it’s illegal to sell without a street vendor permit, he said. Venezuelan migrant Edwin Bravo opens his cooler while selling tequeños outside a migrant shelter on North Elston Avenue near the Salt Shed, Feb. 29, 2024. (Chris Sweda/Chicago Tribune) Chicago generally requires those who sell prepared foods and peddlers who sell uncut fruits and vegetables or other goods to be licensed. In 2023, the city’s Department of Business Affairs and Consumer Protection issued 730 enforcement actions to 155 peddlers and vendors, including cease-and-desist orders and citations, according to department data. Police can also enforce license violations, the department said. Not every new vendor has encountered enforcement, though. Andris Vasquez, who came to the U.S. from Caracas, Venezuela, about four months ago, has been selling empanadas for about a month. Once a butcher in Venezuela, the 23-year-old now lives in a Chicago Heights home with his mom, who has been in the U.S. longer than he and has work authorization, he said. Back in Caracas, vendors selling traditional stuffed masa hallacas and a type of dumpling called bollos were common, he said. Here, he and his mother carefully tally up the cost of the flour, oil, beef and chicken she uses to make the empanadas. They’ll spend about $150 for four days’ worth of empanadas, and on a good day he can make $80 to $100 selling. “Here there are mostly Venezuelans, and they know empanadas,” he said in Spanish, from outside the West Town migrant shelter. “I don’t speak English, and I don’t know how to offer them to people from the U.S.” Vasquez would prefer to have a more stable job, he said. But after leaving Venezuela, uncertain of what the future held for him there, he and his mother now have bills to pay. “We have to pay for water and electricity,” he said. “I have to do something to make money.”.....»»
Calculating Your Rent Budget: A Step-by-Step Guide
Discover how to calculate your perfect rent budget with our step-by-step guide. Get expert tips on determining the right amount to spend on rent based on your financial situation. The offers and details on this page may have updated or changed since the time of publication. See our article on Business Insider for current information.Our experts answer readers' investing questions and write unbiased product reviews (here's how we assess investing products). Paid non-client promotion: In some cases, we receive a commission from our partners. Our opinions are always our own.How much rent you can afford depends on how much money you bring home.AP Photo/Paul Sakuma, File A general rule of thumb is that you should aim to spend no more than 30% of your gross income on rent. But a better way to find out how much rent you can afford is to look at your overall budget and your individual needs. Getting a roommate or moving to a different neighborhood can help if you're struggling to afford rent. The typical household spends a hefty chunk of their earnings on three things: housing, transportation, and food.The median US renter spends about 30% of their gross income on rent, according to recent data from the US Census Bureau. But almost half of renters spend more than this.What's the magic number when it comes to calculating rent affordability? Here's how to determine how much rent you can afford each month.How much rent can I afford? The 30% ruleWhen you spend more than 30% of your income on rent, the Department of Housing and Urban Development considers you to be cost-burdened. If you spend more than 50%, you're severely cost-burdened. Being cost-burdened makes it much harder for individuals to afford other necessities.Experts often recommend that renters use 30% as a benchmark for how much they should spend on rent. But like any financial rule of thumb, it's not always right for every person's individual budget.For example, many renters live in high-cost areas where spending 30% or less of their monthly income on rent is nearly impossible without an unusually high income. Take New York City, where the median monthly rent is $1,714, and the median income for an individual is $48,066, according to the US Census. This income equates to $4,006 a month. To meet the 30% threshold, this person would need to spend around $1,202 or less on rent — but instead, they're spending almost 43% on rent.As we can see, the 30% rule isn't always helpful for people in high-cost areas. Or, if you have a larger income or live in a low-cost area, it might not be wise to spend the full 30% on rent.Still, the 30% rule can be a good starting point to give you an idea of what a reasonable amount to spend on rent might look like. Here's how to calculate that.Using the 30% rule to determine your rent payment capacity: A step-by-step guideDetermining affordable rent for your budget requires a bit of math.1. Find your gross monthly payFirst, you'll need to figure out what you earn each month before taxes. You can look at your paystubs to see what your gross pay is, or you can calculate it yourself.If you're paid a salary, take your annual salary and divide it by 12. If you're paid hourly, multiply your hourly rate by the number of hours you work each month. 2. Multiply your gross monthly pay by 30%Take the amount you earn before taxes each month and multiply it by 0.30. This is the maximum amount you should spend on rent each month, according to the 30% rule. This includes both the rent you pay each month as well as any utilities.3. See how this fits into your overall budgetEverybody has different needs, wants, and savings goals. These three things make up your budget, and because they're so individual, it's up to you to determine how to allocate your money.If the 30% rule isn't suitable for you because rent is expensive in your city, you're likely going to need to pare back in other areas of your budget to make room. Or, if you're saving aggressively for retirement, for example, you might want to look for cheaper rental units so you can spend less of your income on housing. If you're having trouble figuring out how much you should spend overall each month, a budgeting app might make the process a bit easier. Determining affordable rent for your budgetMany experts recommend using the 50/30/20 rule to help you set your budget, and this rule could help you with estimating suitable rent for your income level. With this budgeting rule, you'll aim to spend 50% of your income on things you need, 30% on things you want, and 20% on debt payments and savings. This rule utilizes after-tax income, or your take-home pay, rather than your pre-tax income.The "needs" bucket includes housing costs as well as other things you need to survive, including food and transportation to get to work. To figure out how much of this category should be spent on rent, you'll need to look at all of your necessary costs and see how much room you have for a monthly rent payment on top of those costs.Rent budgeting tipsIf you're having trouble affording your rent, here are some things that might help:Track your spending habits. The first step to finding more money in your budget is understanding where all your hard-earned money is going. You might find that you're paying for a subscription you no longer want, or that your occasional online shopping purchases are actually costing you more than you think.Split rent with a roommate. Especially in high-cost areas, living with a roommate can substantially lower your rent burden and free up space in your budget for other things.Move to a more affordable area. Average rent prices can vary a lot from one town to the next, or even one neighborhood to the next. If you're able to, moving to a more affordable area can be a good way to save on rent.Find ways to cut back on other costs. Giving up your weekly bakery treat probably isn't going to make a huge difference in how much money you have left over each month, but looking at larger, regular costs can. Shopping at a less expensive grocery store, for example, or using a gym with a cheaper membership could give you a bit more breathing room in your monthly budget.Increase your income. Obviously, this is easier said than done. Ways to increase your income include finding a higher-paying job, asking for a raise, or taking on a side hustle. Consider renting vs. buying. Though renting is often more affordable than owning a home, there are situations where buying could make more sense. A mortgage calculator can help you determine whether homeownership is affordable for you.How much rent can I afford FAQsIs 30% of income too much for rent?Spending no more than 30% of your income on rent is a popular rule of thumb, but whether this makes sense for you depends on your unique financial situation. And depending on where you live, it may be difficult to keep your costs below 30%. Is 50% of your income too much for rent?Spending 50% of your income on rent is generally considered to be too much, though it can be hard to avoid, especially if you're a low earner in a high-cost area. Living with a roommate can help you spend less on rent and avoid financial strain.How much rent can I afford based on net income?Experts typically recommend not spending more than 30% of your gross income on rent. Gross income is what you earn before taxes are taken out. But it may be more helpful to look at your net income (what you earn after taxes) and determine what amount of rent fits comfortably into your after-tax budget.How much rent can I afford if I make $70,000 a year?You should aim to spend no more than $1,750 per month on rent if you earn $70,000 a year, according to the 30% rule. But the healthy number for your budget might be different, depending on your individual circumstances. Read the original article on Business Insider.....»»
Confidentiality pact deepens mystery of how bakery clause got into California minimum wage law
Confidentiality pact deepens mystery of how bakery clause got into California minimum wage law.....»»
The Kroger Co. (NYSE:KR) Q4 2023 Earnings Call Transcript
The Kroger Co. (NYSE:KR) Q4 2023 Earnings Call Transcript March 7, 2024 The Kroger Co. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good morning, and welcome to the Kroger Co., Fourth Quarter and Full-Year 2023 Earnings Conference Call. Please […] The Kroger Co. (NYSE:KR) Q4 2023 Earnings Call Transcript March 7, 2024 The Kroger Co. isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Good morning, and welcome to the Kroger Co., Fourth Quarter and Full-Year 2023 Earnings Conference Call. Please note, this event is being recorded. I would now like to turn the conference over to Rob Quast, Senior Director, Investor Relations. Please go ahead. Rob Quast: Good morning. Thank you for joining us for Kroger’s fourth quarter and full-year 2023 earnings call. I am joined today by Kroger’s Chairman and Chief Executive Officer, Rodney McMullen; and Interim Chief Financial Officer, Todd Foley. Before we begin, I want to remind you that today’s discussions will include forward-looking statements. We want to caution you that such statements are predictions, and actual events or results can differ materially. A detailed discussion of the many factors that we believe may have a material effect on our business on an ongoing basis is contained in our SEC filings. The Kroger Company assumes no obligation to update that information. After our prepared remarks, we look forward to taking your questions. [Operator Instructions] I will now turn the call over to Rodney. Rodney McMullen: Thank you, Rob. Good morning, everyone, and thank you for joining us today. I’d first like to take a moment to welcome our interim CFO, Todd Foley. Todd has been a meaningful contributor to Kroger for more than 20 years, and we are excited he is serving in this leadership position. Before we begin, I’d like to provide an outline of our discussion topics this morning. I will start by sharing a recap of our 2023 performance, how the strength of our value-creation model allowed us to deliver on our goals and how it positions us well to continue our momentum in 2024 and beyond. Then Todd will cover our financial results for the fourth quarter and full-year 2023 as well as our financial guidance for 2024. Finally, I will conclude with an update on our proposed merger with Albertsons before we open it up for questions. I’d like to start with Kroger’s value creation model, which supports our optimism for the future. We are guided by our vision that when people think food, they think Kroger. To achieve this vision, we are delivering a best-in-class customer experience and investing in our associates. We know that when we take care of our customers and our associates, we generate attractive and sustainable returns for our shareholders. Kroger’s go-to-market strategy includes four focus areas: fresh, power brands, seamless and personalization that propels a customer experience that will grow sales and build loyalty. Our team of associates power Kroger’s success by executing this strategy and delivering an outstanding customer experience. To attract, develop and retain our talented teams, we make holistic investments in our associates. Our value creation model enables us to balance investments in our customers’ experience and associates while generating sustainable returns for our shareholders. We’ve made significant investments to strengthen this model and are now demonstrating how we can generate growth in more ways than ever. By delivering fresh products and personalized offers through a unique seamless shopping experience, our retail business creates traffic and loyalty that accelerates our growth opportunities in other areas such as alternative profit businesses. This generates sustainable net earnings growth and increases in cash flow, which supports capital investments to grow the business, which in turn creates more jobs for associates and more career opportunities and enables us to return excess capital to shareholders. As part of our capital investment plans for 2024, we are excited to announce that we are building more new stores in a meaningful way that will support our long-term growth model. When we launched Restock Kroger several years ago, we knew that a strong omnichannel experience was a key to serving our customers in the future. We are pleased with the progress we’ve made there, and we’ll continue to invest in digital as it remains an important part to our growth model. In addition, we believe a strong and growing store network is important. Many of the ways we go-to-market in digital still comes through the store channel. We know that our most profitable customers shop both in-store and online. So it’s important to be there for our customers in a way they choose to shop with us. As a result, we expect new stores to be an important part of sales growth in our TSR model going forward. Now I would like to provide a brief recap of 2023. Last year, customers were affected by many factors, which pressured their food-at-home spending, including reduced government benefits such as SNAP, higher interest rates and the depletion of excess savings that many families accumulated during the pandemic. As a result, customers were looking for value to stretch their budgets. Kroger’s commitment to lowering prices and executing our go-to-market strategy positioned us well to meet our customers’ needs. By delivering fresh products, enhancing our brand’s quality and improving our digital experience, we grew loyal households in 2023, and our customers saved even more through our industry-leading personalization capabilities including loyalty discounts, fuel rewards and personalized offers. By increasing customers’ digital experience, we can more effectively deploy our data sciences and our AI to serve the right offers to customers at the right time. In 2023, our customers clipped 4 billion coupons, which is 1 billion more coupons compared to 2022. We know these offers help customers stretch their budget and lead to deeper loyalty. During the fourth quarter, our effective promotions helped turn traffic positive. These trends position us well and give us optimism for 2024. We expect consumer sentiment to improve in 2024 but our customers will still have to manage many of the same macro pressures as last year. Kroger will continue to provide customers with lower prices and exceptional value. We also know that customers expect a great shopping experience, and we have robust plans to improve seamless shopping both in-store and online, where customers can get the products they want without compromising on quality, selection and convenience. We are raising the bar on our full fresh and friendly metrics and investing for growth. As with our brands, which enables Kroger to offer innovative products at a great value, growing sales and improving margins, we create destination items that our customers love and can only find at Kroger. This year’s addition of the Hispanic-inspired Mercado line to our brand’s portfolio is an example of how our brands can innovate in categories that meet our customers’ evolving needs and accelerate growth. In 2024, our brands expects to launch more than 800 new products. As part of the next phase of Kroger’s brand architect work, the team is reimagining there our brand’s portfolio with a refreshed look, which is based on the insights and preferences collected from extensive customer feedback studies. Next is Fresh. Fresh is an important influence on where customers shop and we are continually trying to add days of freshness for our customers. With end-to-end fresh and more than 2,100 stores, we are seeing higher produce sales and improving share. Beyond adding days of freshness, we are expanding our assortment. Customers love our convenient in-store fresh-cut fruit program, and we will continue to expand the offering by introducing regional specialties and seasonal favorites. Now turning to seamless. Digital had strong results in 2023, delivering more than $12 billion in sales. Digital sales grew by 12% on a 52-week basis, and we improved our cost to serve through increased volume and process enhancements as well as technology to optimize associate pick routes for more efficient picking. Digital is an important growth accelerator in our business. And in 2024, we expect to deliver another year of double-digit sales growth. As we grow volume, particularly in our Kroger Delivery network, we expect our unit economics to improve and become a tailwind to our long-term financial model. We have a clear path to improving our digital margins, closing the gap with our traditional brick-and-mortar business over time. Kroger is well-positioned through our combination of stores and dedicated fulfillment centers enabling us to serve all customer trips, including both immediate and next day. Customers value the ability to shop on their own terms with zero compromises and we are increasing the number of omnichannel households in our ecosystem. Customers who shop both in-store and online spend 3x to 4x more compared to in-store only shoppers. Personalization is also driving digital engagement and remains one of the primary ways we deliver value for customers beyond low prices. By offering personalized savings, we can ensure customers get the right promotions at the right time, allowing us to get the most important return on our promotional spend while enhancing loyalty. Moving promotions online allowed Kroger to take personalization to a new level, targeting customers more efficiently and increasing the breadth and depth of promotions. During the fourth quarter, this led to an 18% increase in digitally engaged households. Our digitally engaged households are extremely valuable to our long-term growth model as they spend more with us and help power our alternative profit businesses like Kroger Precision Marketing. Operational excellence is essential to bringing our strategic pillars to life. Our full fresh and friendly strategy is the roadmap to achieving a best-in-class customer experience. We were pleased to see the continued progress on these metrics in 2023, notably significant improvement in our in-stock rate as we achieved a new all-time high during the year. We will continue our momentum on in-stock rate in 2024 to further drive sales as well as to improve our execution in these other key areas as well. By delivering our retail strategy, including fuel, we are building customer loyalty and expanding opportunities for profitable growth, including alternative profit businesses in health and wellness. Alternative profit businesses achieved solid results in 2023, generating $1.3 billion in operating profit. We were pleased with the portfolio’s performance in 2023, where our media business once again delivered strong results. Looking ahead, we expect that the significant investments we’ve made in Kroger Precision Marketing last year will lead to more than 20% growth in our media business in 2024. The U.S. media landscape is evolving, and Retail Media is one of the fastest-growing channels. Systems built 20 years ago to power digital advertising, including third-party cookies are losing effectiveness and ineffective ad spending is creating more opportunities for those who use first-party data to connect the right content to the right customers while clearly measuring return on investment. KPM is well-positioned to excel in this space by offering brands a superior advertising experience. Our media business can utilize first-party data from our loyalty program to create relevant audiences and measure ad spend effectiveness based on customer purchases, both in-store and online. To take the next step in this growth journey, KPM invested in enhanced advertiser functionality. In 2023, KPM launched its own ad platform and introduced a new self-service solution on ad buying platforms. The new ad platform makes it easier for clients to activate campaigns and gather data insights for advertising on Kroger-owned properties and the new self-service solutions are responsible for offering more direct access to custom Kroger audiences on clients’ existing ad buying platforms. We expect these enhancements will be key catalysts for growth in 2024. Kroger Personal Finance delivered mixed results in 2023, which led to relative flat year-over-year operating profit. Our credit card business experienced a challenging macroeconomic landscape, which led to an increase in customer bad debt. In money services, we delivered strong results by implementing more fraud controls that allowed us to process payments more quickly while reducing fraud. Turning to health and wellness. Health and wellness delivered a better-than-expected performance in 2023, and we are excited about the momentum in this area of our business. As we find in other areas of our ecosystem, customers who are retail pharmacy patients are more loyal to Kroger than non-pharmacy customers. The retail pharmacy industry is going through a period of transformation which presents a significant opportunity for us. We plan to deliver growth by focusing on a few key priorities. First, cultivating an exceptional patient experience. We are incorporating new technologies and simplifying our team’s work, which adds capacity in our pharmacies. Our pharmacy staff is using this capacity to provide better care and faster checkout for patients. Next, we are attracting new patients by raising awareness to our non-pharmacy customers. Many of our customers are not familiar with Kroger’s retail pharmacy operations. We are working to convert these customers by increasing our marketing and adding in-store engagement and utilizing our data sciences to help build awareness. Finally, we plan to build on our 2023 momentum in vaccines by accelerating share growth in 2024. By improving our outreach in store, expanding marketing campaigns and working with providers, we can grow vaccines and help customers live healthier lives. I’d now like to take a moment to talk about our associates. We respect and appreciate our associates for all they do to take care of our customers every day, every time. We firmly believe that by investing in associates and being an employer of choice, we can facilitate an outstanding customer experience. At the core of our operational initiatives this year is delivering a consistent store experience. Team consistency is a key to that strategy. To support this strategy, we are taking a holistic approach to retention, which includes wage and benefit investments that Todd will talk on later, as well as investments in associate experience, including training, technology and career development opportunities. Investments in technology enable us to support our associates beyond the initial onboarding process. Our training app provides ongoing support and development during the flow of work, giving associates more confidence in executing their tasks and leading to a better customer experience. Importantly, associates are developing the skills for their next role with Kroger. We are pleased to see these efforts lead to strong improvements in retention this year. In 2024, we will remain focused on further enhancing training and development opportunities, solidifying Kroger as a place where associates come for a job and discover a career. With that, I’ll turn it over to Todd to take you through our financial results and guidance for 2024. Todd? Todd Foley: Thanks, Rodney, and thank you for the warm welcome. Good morning, everyone. Kroger’s 2023 results reflect the strength of our business and demonstrate the evolution of our model. We are a more diverse business with more ways than ever to generate net earnings growth. Over the past four years, adjusted EPS has grown at a CAGR of 20%, significantly higher than our long-term growth model. As net earnings grow, we are also producing improved cash flows. And in 2023, we delivered more than $3 billion of adjusted free cash flow. This is strengthening our balance sheet, giving us the flexibility to reinvest in growth opportunities for our business and return excess cash to shareholders. As Rodney discussed, our retail business is performing well and driving data and traffic needed to power our model and accelerate growth in alternative profit businesses. Kroger is entering 2024 from a position of strength. Many of the headwinds we faced in 2023, including the reduction of SNAP benefits and the loss of pharmacy sales from the termination of our agreement with ESI are cycling this year. Recent investments to expand our strategic pillars and grow alternative profit businesses are paying off. We remain confident in our ability to navigate many different operating environments and are well-positioned to drive sustainable growth long term. I’ll now walk through our full-year 2023 results. Kroger delivered adjusted EPS of $4.76 per diluted share, including a benefit of $0.20 from the fifty third week. Excluding the fifty third week, adjusted EPS per diluted share increased 8%, which is above the high end of the guidance range we shared at the beginning of the year. We achieved identical sales without fuel growth of 0.9%. Underlying growth would have been 2.3% after adjusting for the effect of our terminated agreement with Express Scripts. Digital sales grew 12% on a 52-week basis, led by 25% growth in Delivery Solutions. The FIFO gross margin rate, excluding fuel, and the fifty third week, increased 18 basis points, primarily attributable to strong our brand’s performance, sourcing benefits, lower supply chain costs, and the effect of our terminated agreement with Express Scripts, partially offset by increased price investments and higher shrink. Our strategy to improve margin over time has many components, including the expansion of our brands improvements in digital profitability, including growth in media, utilizing technology to improve supply chain efficiency and enhancing the product mix through fresh initiatives. Our improvement rate reflected the investments we have made in these areas of our business, and it allows us to further invest in price for customers to help drive the flywheel in our model and continue to have a long runway for improvement. The OG&A rate, excluding fuel, the fifty third week and adjustment items, increased 21 basis points attributable to planned investments in associates, investments in strategic growth initiatives and the effect of our terminated agreement with Express Scripts, partially offset by the continued execution of cost savings initiatives and lower incentive plan costs. Our adjusted FIFO operating profit was $5 billion and $4.8 billion on an adjusted 52-week basis. The LIFO charge for the full year was $113 million. Kroger continued to generate strong adjusted free cash flow through our consistent operating results and improvements in working capital. Working capital improvements primarily reflected an effective inventory management led by our sourcing and supply chain teams. In addition, we cycled through the unfavorable working capital results experienced in the fourth quarter of 2022. As a result, we delivered adjusted free cash flow of more than $3 billion in 2023. Our strong cash flow generation led to significant debt reduction and a strengthened balance sheet in preparation for our merger with Albertsons. Our net total debt to adjusted EBITDA ratio on an adjusted 52-week basis is 1.33 compared to 1.56 a year ago. Turning now to our fourth quarter results. Adjusted EPS was $1.34 per diluted share for the quarter, including a benefit from the fifty third week of $0.20. Excluding the fifty third week, adjusted EPS increased 15%. Identical sales without fuel declined 0.8%. Underlying growth would have been positive 0.1% after adjusting for the effect of Express Scripts. Our sales trends improved in the final period of the quarter as we began to cycle the effect of ESI and unit trends improved in the quarter. The fourth quarter was our fifth consecutive quarter of sequential improvement in units and our teams remain laser-focused on volume growth in 2024. The FIFO gross margin rate, excluding fuel and the fifty third week, increased 13 basis points, reflecting strong our brand’s performance, sourcing benefits and lower supply chain costs, partially offset by increased price investments and higher shrink. The OG&A rate, excluding fuel, the fifty third week and adjustment items increased 40 basis points compared to last year. The increase was attributable to planned investments in associate wages and adjustment for self-insurance expenses and the decision to contribute an additional $40 million to multiemployer pension plans, helping to stabilize associates’ future benefits and to reduce future contribution obligations. These were partially offset by continued execution of cost savings initiatives and lower incentive plan costs. Our adjusted FIFO operating profit was more than $1.3 billion, driven by our strong performance in gross margin. This quarter, LIFO was a credit of $18 million compared to a charge of $234 million last year. This was primarily attributable to lower-than-expected inflation in our pharmacy inventory. Fuel is an important part of Kruger’s strategy, offering customers an additional way to save through fuel rewards and providing yet another lever for us to grow profitability. Fuel rewards enhanced customer loyalty and customers who redeem Fuel Points spend twice as much on groceries and buy 3x the number of fuel gallons. Fuel reward engagement was strong throughout the year as customers save 14% more on fuel rewards versus last year. Our fuel rewards engagement helped lead the gallon sales, which significantly outpaced the industry. The average retail fuel price was $3.14 this quarter compared to $3.39 in the same quarter last year, and our cents per gallon fuel margin was $0.49 this quarter versus $0.51 in the same quarter last year. I’d now like to provide a brief update on associates. In 2023, we increased associate wages resulting in an average hourly rate of nearly $19 an hour at a rate of nearly $25 with comprehensive benefits factored in. Over the last five years, Kroger has now invested more than $2.4 billion in incremental wage investments. Kroger remains committed to supporting our associates with investments in wages and comprehensive benefits that are sustainable and will allow us to continue to keep products affordable to the communities we serve. We expect to make continued associated investments in 2024, and those are fully contemplated in our 2024 guidance and long-term growth model. Turning now to financial strategy and capital allocation. We continue to be disciplined with our capital allocation decisions, and our priority is to invest in high-return projects that support net earnings growth. We also remain committed to maintaining our current investment-grade rating, growing our dividends over time, subject to Board approval and returning excess capital to shareholders. We expect capital investments for 2024 to be between $3.4 billion and $3.6 billion. which is consistent with 2023 in our long-range model. Capital investments will be aligned with our strategic priorities and expect to drive sales growth and improve margins. To drive sales, our focus is on enhancing the customer shopping experience and increasing store investments. As Rodney mentioned earlier, in 2024, we plan on completing 30 major storing projects, including new stores, relocations and expansions with a focus on investments in higher-growth geographies that have a track record of delivering strong ROIC. To improve margins, 2024 investments will also enhance our supply chain, including expanding distribution center capacity and utilizing data and technology to optimize network efficiency. Productivity improvements and cost savings continue to be an essential element of our model and are key to helping us fund investments in associates and the customer experience. These opportunities are embedded into all of our business areas, including in-store operations, digital, supply chain and procurement. Our productivity and cost saving initiatives are focused on simplification and utilizing technology to enhance the associate experience without impacting the customer experience. Looking forward, we’re testing new initiatives like customer pickup lockers, drive-thru lanes and AI-enabled store routing technology that will allow our pickup associates to be more efficient. Through efforts like these, we continue to improve digital margins, which remains a significant opportunity to improve total company operating results. Turning now to 2024 guidance. We expect to achieve identical sales without fuel of 0.25% to 1.75%, adjusting FIFO operating profit of between $4.6 billion and $4.8 billion, and adjusted net earnings per diluted share of $4.30 to $4.50. This compares to 2023 adjusted EPS of $4.56 on an adjusted 52-week basis. We anticipate LIFO to be a similar charge to last year. We expect inflation to be around 1%, which is in line with the external forecast and consistent with our long-range financial model. We expect to grow revenue by investing in value for the customer and enhancing our seamless shopping experience. We plan to balance investments in our business, including lower prices and increased associate wages with improved productivity and cost saving initiatives, improvement on long-term initiatives in gross margin and growth in our alternative profit businesses. As Rodney discussed earlier, growth in loyal households and digitally engaged customers position us well to grow profits and power the flywheel in our model. Overall, we expect FIFO gross margin rate, excluding fuel, and adjusted OG&A rate, excluding fuel, to remain relatively flat on a year-over-year basis. In terms of quarterly cadence, we expect identical sales without fuel to be stronger in the second half of the year. This reflects SNAP headwinds in the first quarter, combined with lower inflation. We expect inflation to be lowest in the first quarter but do expect it to increase as the year progresses. As a result, we would expect identical sales without fuel to be at or slightly below the bottom end of our annual guidance range for the first quarter, in the middle of our guidance range in the second quarter and near the top end of our range of guidance in the second half of the year. We expect adjusted net earnings per diluted share in quarter one will be down low double digits year-over-year, reflecting our most challenging quarter for sales growth. Quarter two is expected to be relatively in line with last year. Quarter three, we expect to increase double digits compared to last year. And quarter four is expected to be in line with last year on an adjusted 52-week basis. Kroger is well positioned to continue the momentum we’ve generated over the last few years. In 2023, we delivered adjusted net earnings per diluted share growth, in line with our long-term growth model and on top of our historic growth from the prior three years despite navigating a challenging operating environment. We’re evolving into a more diverse business, and our value creation model is providing us multiple ways to drive sustainable future growth. I will now turn the call back to Rodney. Rodney McMullen: Thanks, Todd. In closing, Kroger delivered another strong performance in 2023, and I’m optimistic about 2024 and beyond. Our retail business is performing well. And by building loyalty, increasing digital engagement and driving customer visits, it is well-positioned to continue that momentum in 2024 and beyond, which will accelerate growth in our alternative profit businesses. We are focused on enhancing our strategy with consistent store execution to drive sales and expect to build sales momentum throughout the year as we cycled SNAP benefits in the first quarter resulting in a strong finish to the year. Before we open up the floor to your questions, I’d like to provide an update on our pending merger with Albertsons Company. While we were disappointed about the FTC’s recent attempt to challenge our merger, we were not surprised given the current political environment. Our track record in previous mergers is clear. Kroger lowered prices, invested in associates, improved the customer experience and deepened its connections with the communities we serve. The character of a company is clear in its actions regardless of what others claim. Kroger keeps its commitments, and we’re happy to share this with whomever is willing to talk with us. We know this merger will result in a secure future for union jobs. Kroger has added more than 100,000 union jobs in a national retail environment where these union jobs shrank elsewhere. We are making historic investments in wages including $2.4 billion in incremental investments since 2018 on top of hundreds of millions of dollars in benefit investments. The retail industry continues to be more competitive. We know our customers better than anyone. And every day, they make decisions about where to buy their groceries and how they eat. They shop with us, they shop with a wide range of competitors from Costco to Amazon to dollar stores, and they eat at restaurants. No matter how others define the industry, we know how our customers behave and we run our business accordingly. Throughout my four decades in the retail business, I have seen that when we take care of our customers and take care of our associates, our shareholders benefit. This is true in the past, and this will be true in the future. I know you likely have questions on the next steps. Here’s what we know today. The FTC joined by several states has sued to enjoin the merger. Two states, Washington and Colorado have also sued separately. We are committed to defending the merger and litigation because we believe this is the best outcome for America’s families. We cannot close the merger while these actions are pending. Hearing dates have not been set yet, but we expect these to proceed in the mid- to late summer. We remain excited about the future of our combined company, and we look forward to explaining the benefits of our merger. Because we are in litigation, we will not be taking any questions on the merger this morning. With that, Todd and I look forward to taking your questions. See also 10 Best Car Insurance in Texas for 2024 and 15 Best Coffee Beans for Beginners. Q&A Session Follow Kroger Co (NYSE:KR) Follow Kroger Co (NYSE:KR) or Subscribe with Google We may use your email to send marketing emails about our services. Click here to read our privacy policy. Operator: [Operator Instructions] Our first question today comes from Simeon Gutman from Morgan Stanley. Simeon Gutman: My first question is on the comp. The comp guide with inflation expectation, I think you said about 1%. I guess, at the high end may imply a little bit of market share gain. At the low end, it wouldn’t. So I guess, how did you think about market share, especially as you’re investing into pricing, why shouldn’t that spread look a little bit stronger versus inflation? Rodney McMullen : Great question, Simeon, and I’ll start and Todd add anything you want to add. But as Todd mentioned in the prepared remarks, we expect the first quarter to be a tougher quarter as we’re cycling ESI and SNAP, and we would expect as you go through the year, that our market position, market share would continue to improve throughout the year, both from cycling and from the comment that I shared that we expect to open incremental stores and more stores in ’24 than we did in ’23 or in fact, several of the past years. And it’s really all of those things together. Todd, anything you want to add? Todd Foley: No, I think that’s a good color, Rodney. And frankly, actually, we are satisfied with the trajectory we’re seeing in some of our volume share trends. It’s improved consistently for the last five quarters. And I think what Rodney described is our expectation to build on that. Rodney McMullen: Yes, that’s a great point. And we’ve seen improvements in tonnage and in dollars, both sequentially on trends, and we would expect that to continue. Simeon Gutman: A quick follow-up on advertising. The grocery space in particular, there’s always been a lot of support on product in the store promotion, where product is placed. Now we’re getting advertising dollars as the consumer shifts the channel in which they’re shopping. The way in which your suppliers or your suppliers are looking at it, is the dollar basket you think still getting larger on whole? Or are they looking at it more holistically, the advertising plus the product support? Are those dollars still growing? And how do you think about that over the next several years? Rodney McMullen: If you look from a media standpoint, we’re really competing against Google and Facebook and other channels. And everything that we can see that, those dollars are coming from other channels or even traditional media channels. And we tell our CPGs, we have to earn our right for you to want to spend media money with us because it doesn’t do us any good if you just take trade dollars and move them over. So that’s something we’ve been aggressive in terms of communicating with CPG since day one, and it’s really important. If you look at trade support, we actually saw a pickup in trade support. And it’s more around some of the CPGs are starting to focus more on tonnage growth than what they have in the last several quarters. And the trade dollars are really trying to support tonnage growth for certain CPGs, but not all. Operator: The next question comes from Leah Jordan from Goldman Sachs. Leah Jordan: I had noted an inflection to positive traffic in the quarter. I’m just curious if you could comment on where you think you’re gaining that trip. How much do you think a shift to more food at home has been a factor? And then just where are you seeing maybe in trip frequency across your customer base versus those that are more loyal versus maybe those that are a little lesser? Rodney McMullen: Yes. In terms of where we’re seeing the growth, our loyal household continued to grow and it’s several quarters in a row. They are starting to shop with us more frequently as well. So it’s really both of those together. The food away-from-home to me is — if you ask me, what’s one of our biggest opportunities? Seamless is obviously one of them. But one of them would be food away-from-home. Our market share there is very low. And our deli and bakery team are doing some incredible work and incredible work partnering with a couple of outside companies really focused on making it a destination. One of the things that we recently did was reformulate our fried chicken and the customers are telling us they really like it. So when we look at food away-from-home, we think we’re just scratching the surface, and we think that’s really a huge growth opportunity. But the growth is really coming from frequency and our loyal shoppers. Operator: The next question comes from Michael Lasser from UBS. Michael Lasser: Rodney, presumably, you would get a lot of new stores if and when the Albertsons merger closes. So what’s driving the decision to accelerate organic store growth now? Rodney McMullen: Yes. Thanks, Michael, and great seeing you a couple of weeks ago as well, and you did a great job. Touring, when you look at — it really ties back to capital. And it’s kind of, I call it, bifurcation because we continue to run our business just like we would run our business without the merger. And we’re finding good growth opportunities in certain markets where we have a strong ROIC and there’s good population growth. And it’s something that we feel comfortable doing with or without the merger. So it’s really strong from a both perspective. And we have good, strong, obviously, cash flow to be able to fund it as well. Todd Foley: Yes. Great call, Rodney. And if you think over the last few years, we’ve really concentrated a lot of our capital investments in the digital space as we saw customers evolving more into that space, naturally, our investments went there. to help support what they were looking for and what we were trying to do in our business. And we’ve been very pleased with the progress we’ve made with those investments with customers. But as Rodney said, we continue to see opportunities to go into higher-growth areas in some of those markets where we have a good track record and making sure that we’re balancing those investments with both online and in-store investments because our best shoppers engage with us in both of those areas......»»
20 things you didn"t know were invented by women
The dishwasher, chocolate-chip cookies, and the first version of the Monopoly board game were all created by women. Ruth Wakefield invented the first chocolate-chip cookie as a result of a baking mistake.digitalreflections/Shutterstock You might not know that some things you use every day were invented by women. Nancy Johnson created the first hand-cranked ice-cream maker in 1843. Famous American chef Julia Child developed a shark repellent while working as a CIA assistant. You might not know that everyday items like the dishwasher and the first version of the Monopoly board game were all created by women.In honor of International Women's Day, Business Insider looked back at some of the most famous inventions made by women throughout history. Some, like the chocolate chip cookie, were invented by accident. Others, however, were worked on for years before they gained international acclaim. Here are 20 things you didn't know were invented by women.Glass aquariums were invented by Jeanne Villepreux-Power in 1832.Aquarium.Prince Williams/Getty ImagesVillepreux-Power, a naturalist and marine biologist, invented the first glass aquarium in order to aid in her study of aquatic organisms, according to Britannica.The invention allowed her to determine that Argonauta argo, a species of octopus, produce their own shells rather than obtain them from other animals as hermit crabs do. Villepreux-Power's invention of a glass aquarium has proven invaluable to scientists for over a century.In 1843, Nancy Johnson created the first hand-cranked ice-cream maker.Strawberry ice cream in ice-cream maker.vm2002/Getty ImagesJohnson's ice-cream maker was made up of an outer wooden pail, an inner tin cylinder, and a paddle connected to a crank. To make ice cream, you had to fill the outer pail with crushed ice, fill the inner cylinder with ice cream mix, and manually crank a handle to churn the mixture while the ice cooled and set the ice cream.Her patent was approved on September 9, 1843, almost 100 years before freezers, as we know them today, were invented.The modern ironing board was invented by Sarah Boone, a 19th-century African American dressmaker.The modern ironing board revolutionized homemaking.Steven Errico/Getty ImagesBefore Boone's invention, women's garments were traditionally ironed across a wooden plank set upon two chairs. Boone wanted to create a board that could be slipped underneath sleeves to get an even iron, without the impressions that wooden boards often left behind.With the invention of the ironing board, which Boone described as an effort to "produce a cheap, simple, convenient and highly effective device, particularly adapted to be used in ironing the sleeves and bodies of ladies' garments," she became one of the first African American women to be awarded a patent, according to Biography.With the rise of multilevel buildings resulting in deaths from fires, Anna Connelly submitted the idea of exterior fire escapes to the patent office.Fire escapes are common on New York City buildings.Alexander Spatari/Getty ImagesConnelly's invention in 1887 allowed people escaping fires to move from one building to another, as well as the ability to climb down buildings on a steel staircase, according to the Library of Congress.The invention was also valuable to firefighters, who could use platforms to hoist their equipment up the sides of buildings to fight fires without entering.Collapsible life rafts, invented by Maria Beasley, revolutionized transatlantic travel safety.A downed Navy pilot in a life raft waiting for a rescue plane in the South Pacific, April 1944.Horace Bristol/Corbis via Getty ImagesBeasley patented her first invention of collapsible life rafts in 1880, according to the University of Edinburgh, though by that time she was a well-known entrepreneur and inventor.Her rafts took up less space than traditional wooden lifeboats, which were used on the Titanic's fateful voyage. Each raft could hold up to 47 people and introduced the idea of guard rails, which are commonplace in modern life-raft designs, according to St Mary's College.Some have claimed that Beasley's life rafts were in fact used to evacuate passengers on the Titanic, but author David H. Cropley negated this in his book, "Femina Problematis Solvendis ― Problem Solving Woman: A History of the Creativity of Women.""In fact, if the four collapsible lifeboats carried on the Titanic were versions of Beasley's design, then something went badly wrong," Cropley wrote. "Only two were launched shortly before the vessels sank."Shark repellent was invented by none other than famous American chef Julia Child.Julia Child invented a shark repellent.Bachrach/Getty Images; wildestanimal/Getty ImagesBiography reported that after being fired from her job in the advertising department of home-furnishings company W. & J. Sloane and before starting her journey as a chef, Child moved to Washington, DC.Once she arrived, she began volunteering as a research assistant for the Office of Strategic Services (OSS), a newly formed government intelligence agency that would eventually become the Central Intelligence Agency (CIA).During her time at the OSS, Child developed a shark repellent, according to History.com, and facilitated the communication of important, top-secret documents between US government officials and their intelligence officers.Josephine Cochrane invented the first commercially successful dishwasher in the 1880s.She patented the "Cochrane Dishwasher" (not pictured) in 1886.simm49/ShutterstockCochrane was a wealthy woman who wanted a machine that could wash dishes "faster than her servants" could, reported Smithsonian Magazine. After she was granted a patent for her dishwasher, she marketed the machine to restaurants and hotels. Later, Cochrane founded a company for her dishwashers that eventually became KitchenAid.Alabama native Mary Anderson came up with the idea for windshield wipers when she visited New York City on a snowy day in 1902.Drivers once had to get out of their cars and manually clear their windshields.PhotoAlto/James Hardy via Getty ImagesAnderson's great-great-niece, Reverend Sara-Scott Wingo, told NPR that Anderson was riding a streetcar that day in New York City. After noticing that the snow caused traffic jams, since there was no efficient way to clean windshields at the time, she began brainstorming ideas for a wiper of some sort.Anderson received a patent for her "window cleaning device" in 1903.In 1965, Stephanie Kwolek developed a synthetic fiber that was so strong that it was bulletproof.Kwolek's fiber is also resistant to tears and extreme temperatures.horkins/ShutterstockThe New York Times reported that when Kwolek started working at the DuPont Company in 1964, her team was focused on finding a strong yet lightweight fiber for tires.One year later, she made an unexpected breakthrough in her research when she created a new fiber that was five times stronger than steel. DuPont patented the fiber that same year under the name Kevlar, which is now used in everything from bulletproof vests to military helmets to racing sails. In 1995, Kwolek became the fourth woman to be inducted into the National Inventors Hall of Fame, according to Carnegie Mellon University. Elizabeth Magie invented "The Landlord's Game" in 1904. It was later copied, and it sold as "Monopoly" 30 years later.Needless to say, Monopoly is one of the best-known board games of all time.CaseyMartin/ShutterstockMagie created "The Landlord's Game" in order to teach people about monopolies, unchecked capitalism, and the "evils of accruing vast sums of wealth at the expense of others," according to Smithsonian Magazine. She was granted a patent for the game in 1904. In 1935, an unemployed heating salesman named Charles Darrow became incredibly wealthy after selling a copy of Magie's game to the Parker Brothers. Magie, on the other hand, sold her patent to the Parker Brothers for just $500 that same year.Shirley Ann Jackson's breakthroughs in telecommunications research led to the invention of caller ID and call waiting.She is now the 18th president of Rensselaer Polytechnic Institute.Jim McKnight/APWith a PhD in theoretical elementary particle physics, Jackson was one of the first African-American women to receive a doctorate from MIT in any field, the university said.From 1976 to 1991, Jackson conducted research at AT&T Bell Laboratories, where she helped contribute to the development of caller ID and call waiting. In 2016, then-President Barack Obama awarded Jackson the highest honor for scientific achievement in the US, the National Medal of Science.Along with colleague George Hitchings, Gertrude Elion developed some of the first drugs for treating major diseases such as leukemia, herpes, and AIDS.Elion and Hitchings received the 1988 Nobel Prize in Physiology or Medicine.Bettmann/Getty ImagesAccording to the American Chemical Society, Elion and Hitchings developed a method known as "rational drug design" that helped revolutionize drug making. Their research allowed them to interfere successfully with cell growth, which led to the development of the first effective drugs for treating leukemia, along with several other illnesses.Elion also discovered azathioprine, an immunosuppressant that made it possible for people with weak immune systems to receive organ transplants. Cotton mill worker Margaret Knight invented the paper bag in 1868, but a man named Charles Annan tried to steal and patent her idea first.This seemingly simple paper bag involved a legal battle.inxti/ShutterstockKnight's knack for innovation started at a young age. When she was just 12 years old, she invented a safety device for cotton mills, according to The American Society of Mechanical Engineers.During her time at the Columbia Paper Bag Company in 1867, Knight began working on a machine that created flat-bottomed bags. When fellow machinist Charles Annan tried to steal her idea, Knight sued him and won the patent for her machine after a long legal battle. In the early 1900s, Lillian Gilbreth tweaked and designed dozens of inventions that improved people's everyday lives, including the foot-pedal trash can.One of her most well-known inventions is the foot-pedal trash can.Spiderstock/Getty ImagesKnown for her contributions to office equipment and household appliances, Gilbreth invented the shelves inside refrigerator doors, filed a patent for an improved can opener, helped General Electric design the proper height for kitchen fixtures, and more, according to The American Society of Mechanical Engineers.Together with her husband, Frank, Lillian also pioneered several industrial management techniques, designed to increase efficiency and productivity. The couple had 12 children, two of whom wrote a famous book about their family's life called "Cheaper by the Dozen."Grace Murray Hopper helped program the first computers.Grace Hopper using an early computer.Bettmann/Getty ImagesConsidered one of the first three modern programmers, Hopper made trailblazing breakthroughs in the development of computer languages. A rear admiral in the US Navy, she is probably best known for inventing COBOL, or "common business-oriented language" in 1959, Yale News reported. By the 1970s, COBOL was the "most extensively used computer language" in the world. It was also the first user-friendly computer software for businesses.In 2016, Hopper was posthumously awarded the Presidential Medal of Freedom, the United States' highest civilian honor, for her contributions to the field of computer science.In the early 1990s, Fiona Wood revolutionized medical treatment for burn victims when she created spray-on skin.Fiona Wood poses inside an operating room.TONY ASHBY/AFP/Getty ImagesIn 1993, Wood began working with medical scientist Marie Stoner on a method to grow skin tissue directly on patients instead of in a culture flask, according to the Australian Academy of Science.The duo launched ReCell, "a spray-on solution of skin cells" two years later. In 2002, ReCell gained international attention after Wood used it to treat severely burned victims of the 2002 terrorist attack in Bali, Indonesia, Vice reported.An accomplished engineer, Dr. Katharine Burr Blodgett made several important contributions to surface chemistry including the invention of non-reflective or "invisible" glass.Glasses.ShutterstockThe first woman to receive a doctorate in physics from Cambridge University, Blodgett created non-reflective coatings for eyeglasses and improved cinematography lenses, according to the University of Cambridge. During WWII, she also made improvements to the smokescreen that helped protect soldiers from toxic smoke exposure.When Marion Donovan invented the disposable diaper, she was initially mocked by the men who dominated the manufacturing industry at the time.A baby diaper.GettyIn 1946, Donovan designed a waterproof diaper cover using nylon parachute cloth and plastic snaps, according to the Massachusetts Institute of Technology. The diaper cover, which Donovan called the "Boater," debuted at NYC's Saks Fifth Avenue in 1949. It was an instant hit.Sadly, Donovan's disposable paper diaper, which she invented in the 1950s, never took off. In fact, it wasn't until a decade later that Victor Mills, the creator of Pampers, eventually capitalized on her idea. Ruth Wakefield invented the first chocolate-chip cookie as a result of a baking mistake.This vintage Toll House cookies tin was originally made around 1939.digitalreflections/ShutterstockIn 1930, Wakefield and her husband bought a tourist lodge in Whitman, Massachusetts, called the Toll House Inn. One day, while baking cookies, she realized she was out of baker's chocolate and used a semi-sweet Nestlé chocolate bar instead, thinking that it would melt into the mix, according to All Recipes. However, the chopped-up pieces of chocolate stayed intact, and the chocolate-chip cookie was thus born.Wakefield went on to call the cookies Chocolate Crunch Cookies and the recipe ended up in a local Boston newspaper, according to Yankee Magazine. The recipe became so popular that Nestlé began printing the recipe on the wrapper of its chocolate bars.Marie Van Brittan Brown invented the first home security system in the 1960s.A photo of two modern security cameras.Jan Kickinger/EyeEm/Getty ImagesVan Brittan Brown, who worked as a nurse, came up with the idea of a home security system after seeing the rising crime rates and slow police responses in her neighborhood in Queens, New York City, according to the BBC.She and her husband, Albert Brown, an electronics technician, filed a patent for their security device in 1966, and it was approved three years later in 1969, according to the Massachusetts Institute of Technology.Lucy Yang contributed to an earlier version of this post.Read the original article on Business Insider.....»»
6 Of Goldman Sachs Top 2024 Stock Picks Also Pay Big Dividends
The Artificial Intelligence rally over the last year, led by the so-called “Magnificent 7,” has been fantastic if you owned those stocks. However, most of the S&P 500 is treading water and will not likely ever catch up to the hype-driven AI stocks soon. With the market trading at all-time highs, investors will likely be […] The post 6 Of Goldman Sachs Top 2024 Stock Picks Also Pay Big Dividends appeared first on 24/7 Wall St.. The Artificial Intelligence rally over the last year, led by the so-called “Magnificent 7,” has been fantastic if you owned those stocks. However, most of the S&P 500 is treading water and will not likely ever catch up to the hype-driven AI stocks soon. With the market trading at all-time highs, investors will likely be lured into a false sense of financial security. The reality is the United States could be set for some troubling economic times in the second half of 2024. The national debt is over $34 trillion, consumer credit card debt is a staggering $1.13 trillion, and many companies (especially the tech giants) are laying off thousands of workers to get balance sheets under control. Considering those conditions, we screened the Goldman Sachs Conviction List of top stock picks, looking for the companies that paid the most significant dividends and six that looked like total return winners. All are rated Buy at Goldman Sachs, the premier investment bank in the world, and investors look to the legacy giant to provide some of the best stock ideas available. Amgen Amgen is committed to unlocking the potential of biology for patients suffering from serious illnesses. The biotech giant remains a top stock for investors to buy and pays an outstanding 3.21% dividend. Amgen Inc. (NASDAQ: AMGN) discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on: Inflammation Oncology/hematology Bone health Cardiovascular disease Nephrology Neuroscience The company’s products include: Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis Neulasta reduces the chance of infection due to a low white blood cell count in patients with cancer Prolia to treat postmenopausal women with osteoporosis Xgeva for skeletal-related events prevention Otezla is used to treat adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behcet’s disease Aranesp to treat a lower-than-normal number of red blood cells and anemia KYPROLIS to treat patients with relapsed or refractory multiple myeloma. Repatha reduces the risks of myocardial infarction, stroke, and coronary revascularization Blue Owl Capital Blue Owl Capital is a specialty finance that provides direct lending solutions to U.S. middle-market companies. The Goldman Sachs team is optimistic about this asset management company, and the stock pays a solid 3.11% dividend. Blue Owl Capital Inc. (NYSE: OWL) is an asset manager. It offers permanent capital base solutions that enable it to provide a platform for middle market companies, large alternative asset managers, and corporate real estate owners and tenants. The company provides: Direct lending products that offer private credit products comprising diversified, technology, first lien, and opportunistic lending to middle-market companies GP capital solutions products, which provide capital solutions, including GP minority equity investments, GP debt financing, and professional sports minority investments to large private capital managers Real estate products that focus on structuring sale-leaseback transactions, which include triple net leases Chevron The second-largest direct descendant of Standard Oil is headquartered in San Ramon, California. This integrated giant is a safer way for investors looking to position themselves in the energy sector. It pays a rich 4.03% dividend, and Buffett added 16 million shares in the first quarter. Chevron Corporation (NYSE: CVX) engages in integrated energy and chemicals operations worldwide through its subsidiaries. The company operates in two segments: Upstream Downstream The Upstream segment is involved in the following: Exploration, development, production, and transportation of crude oil and natural gas; Processing, liquefaction, transportation, and regasification associated with liquefied natural gas Transportation of crude oil through pipelines Transportation, storage, and marketing of natural gas, as well as operating a gas-to-liquids plant The Downstream segment engages in: Refining crude oil into petroleum product Marketing crude oil, refined products, and lubricants Manufacturing and marketing renewable fuels Transporting crude oil and advanced products by pipeline, marine vessel, motor equipment, and rail car Manufacturing and marketing of commodity petrochemicals, plastics for industrial uses, and fuel and lubricant additives Chevron announced in the fall that it has entered into a definitive agreement with Hess Corporation (NYSE: HES) to acquire all of the outstanding shares of Hess in an all-stock transaction valued at $53 billion, or $171 per share based on Chevron’s closing price on October 20, 2023. Under the terms of the agreement, Hess shareholders will receive 1.0250 shares of Chevron for each Hess share. The transaction’s total enterprise value, including debt, is $60 billion. Simon Property Group Simon Property Group is the largest owner of shopping malls in the United States. This leading company has rallied big off the 2023 lows, pays a fat 5.18% dividend, and looks ready to break out. Simon Property Group Inc. (NYSE: SPG) invests in real estate markets worldwide. It engages in property investment, ownership, management, and development. The company primarily invests in regional malls, premium outlets, mills, and community/lifestyle centers to create its portfolio. Through its subsidiary partnership, it owns or has an interest in about 230 properties in the US and Asia. The company also has a 28.9% interest in Klepierre, a European REIT with over 260 shopping centers in 13 countries. Southern Company The company is the second largest utility company in the U.S. regarding customer base. This large-cap utility leader pays a solid and dependable 4.19% dividend. Southern Company (NYSE: SO), through its subsidiaries, generates, transmits, and distributes electricity. It operates through three segments: Gas Distribution Operations Gas Pipeline Investment Gas Marketing Services The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects, and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations. Southern Company serves approximately 8.8 million electric and gas utility customers and offers digital wireless communications and fiber optics services. Target According to the ratings issued by 27 analysts last year, the consensus rating for Target stock is a Moderate Buy. Despite some rough public relations issues last year, Target Corp. (NYSE: TGT) remains a solid and safe retail total return play. It also pays a solid 3.17% dividend. Target Corp. is a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, infants, and newborns, jewelry, accessories, shoes, beauty and personal care, baby gear, cleaning, paper products, and pet supplies. Target also provides: Dry grocery, dairy, frozen food, beverages, candy, snacks, deli, bakery, meat, and food service Electronics, which includes video game hardware and software, toys, entertainment, sporting goods Luggage and furniture, lighting, storage, kitchenware, small appliances Home décor, bed and bath, home improvement School/office supplies, Greeting cards, party supplies, and other seasonal merchandise. In addition, the company sells merchandise through periodic design and creative partnerships, shop-in-shop experiences, and in-store amenities. Further, it sells its products through stores and digital channels, including Target.com. Last year, the company suffered a “Bud Light” moment after disastrous merchandising of LBGTQ products that struck a nerve with many shoppers. While not as bad as the beer giants’ problem, it was still a huge negative that has seemingly subsided. ALERT: Today Could Be Your Best Shot At Early Retirement (Sponsored) If you want to retire before 65, pay attention. Study after study has shown that the longer you stay invested, the better your chances at an early retirement. Every day that goes by without saving and investing for tomorrow means more to earn and save later. Don’t waste any more time and get started with Robinhood today. The app makes it easy to buy and sell stocks, mutual funds, trade options, and even cryptocurrencies. Sign up today using the link below or click here to start your journey. The post 6 Of Goldman Sachs Top 2024 Stock Picks Also Pay Big Dividends appeared first on 24/7 Wall St.......»»
20 States That Produce the Most Eggs in the US
In this article, we will be looking at the 20 states that produce the most eggs in the US. If you want to skip our detailed analysis of the global eggs market, you can go directly to 5 States That Produce the Most Eggs in the US. Global Eggs Market: An Analysis The increasing global […] In this article, we will be looking at the 20 states that produce the most eggs in the US. If you want to skip our detailed analysis of the global eggs market, you can go directly to 5 States That Produce the Most Eggs in the US. Global Eggs Market: An Analysis The increasing global population and the surge in demand for protein-rich foods are driving the growth of the global eggs market. According to a report by The Business Research Company, the global egg market was estimated to have reached a value of $269.48 billion in 2023. The market is expected to grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2028 to reach a value of $386.75 billion by the end of the forecasted period. In 2023, the Asia-Pacific region was the largest market while the North American region was the second largest. The United States and China are the two countries with the highest egg consumption. The US is also the largest poultry-producing country in the world. Technological advancements are expected to drive market growth during the forecast period. Major players in the global eggs market are increasingly adopting big data analytics, robotics, and other technologies to increase productivity in egg production, contributing to market growth. The growth of the food service industry is expected to influence the global eggs market positively during the forecast period. Rapid development in the food service segment with the introduction of new and innovative dishes that use eggs in creative ways and the rise of surging demand for bakery and confectionary products are key factors fueling market growth. Prominent Companies Shaping the Eggs Market The global eggs market is fragmented, with many regional players focusing on various strategies, including product innovation, mergers and acquisitions, and expansion, to increase their profitability and market share in various regions around the world. Some of the biggest corporations that are influencing the eggs market are McDonald’s Corporation (NYSE:MCD), Cal-Maine Foods, Inc. (NASDAQ:CALM), and Post Holdings, Inc. (NYSE:POST). Post Holdings, Inc. (NYSE:POST) is an American consumer packaged goods holding company that holds a group of food businesses operating in the center-of-the-store, refrigerated, food service, and food ingredient categories. It owns and operates Michael Foods, among other brands. Michael Foods processes and distributes potato and egg products. It is one of the largest processors of value-added eggs in the US. Michael Foods supplies its products to both food service and retail markets. On February 1, Post Holdings, Inc. (NYSE:POST) reported strong earnings for the fiscal first quarter of 2024. The company reported earnings per share (EPS) of $1.69, surpassing EPS estimates by $0.59. The company’s revenue for the quarter grew by 25.51% year-over-year and amounted to $1.97 billion, ahead of market consensus by $45.27 million. Cal-Maine Foods, Inc. (NASDAQ:CALM) is an American fresh egg-producing company. It is one of the largest producers and distributors of fresh shell eggs in the US. On December 29, 2023, Cal-Maine Foods, Inc. (NASDAQ:CALM) announced that it has entered into a definitive agreement to purchase a broiler processing plant, hatchery, and feed mill in Dexter, Missouri. These facilities were recently shut down by Tyson Foods, Inc. (NYSE:TSN). Cal-Maine Foods, Inc. (NASDAQ:CALM) plans to repurpose these assets for the production of eggs and egg products. Initially, the company will transform the broiler processing plant into an egg grading facility. In connection with this transaction, the company also aims to collaborate with some of Tyson Foods, Inc.’s (NYSE:TSN) former contract farmers to transform their operations to support Cal-Maine Foods, Inc.’s (NASDAQ:CALM) cage-free, free-range, or pasture-raised egg production operations. Millennials, known for their conscious consumer choices, are increasingly shifting towards ethical and sustainable egg production systems, with a growing preference for cage-free eggs driven by concerns for animal welfare and health implications. On February 6, McDonald’s Corporation (NYSE:MCD), one of the most valuable restaurant companies in the world, announced that it has achieved its goal of sourcing 100% cage-free eggs in the United States. In 2015, the company decided to fully transition to purchasing cage-free eggs in the US by 2025. By working together with egg farmers and suppliers in the US, McDonald’s Corporation (NYSE:MCD) has achieved its goal two years ahead of the original timeline. The US-based company purchased nearly 2 billion eggs in 2023. This move reflects McDonald’s Corporation’s (NYSE:MCD) dedication to prioritizing the health and welfare of animals within its supply chain. It also aligns with evolving consumer expectations and preferences for ethically sourced food products. Now that we have discussed what’s going on in the eggs market, let’s take a look at the 20 states that produce the most eggs in the US. Methodology In this article, we have listed the 20 states that produce the most eggs in the US. To collect data for our list, we consulted the 2023 Chickens and Eggs Annual Summary report published by the United States Department of Agriculture. We used data obtained for the latest year in their dataset, published in February 2024. This database provided us with estimates on the production of eggs in US states for the year 2023. We used the data available to rank the 20 states that produce the most eggs in the US in ascending order of their egg production. 20 States That Produce the Most Eggs in the US 20. Kentucky Egg Production (2023): 1.4 Billion Kentucky is a landlocked state in the Southeastern region. It ranks among the top 20 states that produce the most eggs in the US. According to recently reported data, Kentucky produced 1.4 billion eggs in 2023. 19. Washington Egg Production (2023): 1.74 Billion The State of Washington is one of the top egg-producing states in the US. Located in the Pacific Northwest region, it has been nicknamed The Evergreen State. In 2023, Washington produced 1.74 billion eggs. 18. New York Egg Production (2023): 1.75 Billion The state of New York, located in the Northeastern region, ranks 18th on our list of states that produce the most eggs in the US. New York is one of the most populated states in the United States. The state of New York produced 1.75 billion eggs in 2023. 17. Utah Egg Production (2023): 1.86 Billion Utah is a landlocked state in the Western United States. It is known for its national parks and stunning natural landscapes. As one of the largest egg-producing states in the US, Utah produced 1.86 billion eggs in 2023. 16. Illinois Egg Production (2023): 1.88 Billion Illinois is a state in the Midwest region that has been nicknamed The Prairie State. According to recently reported data, Illinois produced 1.88 billion eggs in 2023. 15. Nebraska Egg Production (2023): 2.23 Billion Nebraska, in the Midwest, ranks among the top 15 states that produce the most eggs in the US. Nebraska is known for its vast prairies and spacious farmlands. It is also home to a thriving agriculture industry. In 2023, Nebraska produced 2.23 billion eggs. 14. Minnesota Egg Production (2023): 2.36 Billion Minnesota, in the Upper Midwestern region of the US, is a major producer of turkey, chicken, and eggs. As one of the top egg-producing states, Minnesota produced 2.36 billion eggs in 2023. 13. Wisconsin Egg Production (2023): 2.39 Billion Wisconsin is a state in the Upper Midwestern region of the US. In 2023, Wisconsin produced 2.39 billion eggs. Known as America’s Dairyland, Wisconsin is also a major dairy-producing state. 12. Alabama Egg Production (2023): 2.57 Billion Alabama is a state in the Southeastern US that ranks 12th on our list of states that produce the most eggs in the US. According to recently reported data, Alabama produced 2.57 billion eggs in 2023. 11. California Egg Production (2023): 3.2 Billion California, nicknamed “The Golden State”, is known for famous landmarks such as the Hollywood sign and the Golden Gate Bridge. It is also home to the Sierra Nevada Mountains, the Mojave Desert, Central Valley farmland, cliff-lined beaches, and redwood forest. In 2023, California produced 3.2 billion eggs. 10. Arkansas Egg Production (2023): 3.86 Billion Arkansas is a landlocked state in the South Central region that ranks among the top 10 states that produce the most eggs in the US. In 2023, Arkansas produced 3.86 billion eggs. It is also one of the largest chicken-producing states in the US. 9. Missouri Egg Production (2023): 4.14 Billion Missouri is a state in the Midwestern region of the US that produces a variety of agricultural products including corn, soybeans, cotton, rice, beef, pork, dairy products, poultry, and eggs. In 2023, Missouri produced 4.14 billion eggs. 8. North Carolina Egg Production (2023): 4.16 Billion North Carolina is a Southeastern US state where turkey and chicken farms have grown rapidly. As one of the top egg-producing states, North Carolina produced 4.16 billion eggs in 2023. 7. Michigan Egg Production (2023): 4.96 Billion Michigan, a state in the upper Midwestern US, is home to a thriving and diverse agriculture sector. According to recently reported data, Michigan produced 4.96 billion eggs in 2023. 6. Georgia Egg Production (2023): 5.19 Billion Georgia is a Southeastern US state that is known for its mountains, coastal beaches, and farmland. In 2023, Georgia produced 5.19 billion eggs. It ranks 6th on our list of states that produce the most eggs in the US. Click to continue reading and see 5 States That Produce the Most Eggs in the US. Suggested Articles: 30 Healthiest Cities in the US Top 10 Uranium Producing Companies In The World 20 Countries with Most Clean Energy Production Disclosure: None. 20 States That Produce the Most Eggs in the US is published on Insider Monkey......»»
Highland Park couple to pitch edible candle business on ‘Shark Tank’; ‘It was sort of a distant fantasy’
To prepare for Friday’s airing of their appearance on the show, Sandler and Michelson have been stocking inventory with their various vendors and bulking up their website in hopes the show draws in more customers. While watching colorful wax candles drip onto her son’s freshly iced 12th birthday cake, a lightbulb went off in Loree Sandler’s head: “Well, here’s the last product that hasn’t been tweaked.” Now birthday-goers can have their cake and eat the candles too, with Sandler’s unique idea for chocolate candles, or as she calls them, accessories to the cake. Over a decade after the inspirational birthday party, Sandler, her husband Bob Michelson and their chocolate birthday candle business, Let Them Eat Candles, will be featured on ABC’s entrepreneurial reality television show “Shark Tank” on Friday. Crafted from premium milk and dark chocolate, the candles come in a variety of colorful patterns and shapes, some featuring balloons, numbers and celebratory sayings. “This whole business was something that I started in my head in my 40s,” Sandler, 59, said. “To get to the point where ‘Shark Tank’ thought my business was worthy is just incredible.” Trained as an architect, Sandler, who lives in Highland Park and is a longtime North Shore resident, stayed home to raise her three sons. As they grew older, she wanted to return to the workforce. With her idea for chocolate candles, she enrolled in 2011 at the French Pastry School and the Chicago Chocolate Academy. With no experience in the food industry, let alone temperate chocolate-making, Sandler said there was a “steep learning curve.” Her business started local, handmaking each candle and selling boxes of three at local bakeries. After a few years, a friend introduced her to The Grommet, an online seller of trending and one-of-a-kind items. The chocolate birthday candles launched on Grommet in February of 2016 and just over a month later, all 1,200 prepared boxes were sold out. “It was a personal and professional high,” Sandler said. “It indicated that this thing had legs.” Loree Sandler’s idea for edible chocolate birthday candles came to her after one of her son’s birthday parties when she wondered why there was no alternative to wax candles. Over a decade later, Sandler’s business will be featured on ABC’s “Shark Tank.” (Credit: Loree Sandler) After the online success, Sandler upped her business game, investing in new packaging partners and chocolate molds to work with robotic equipment. Some of her biggest customers today include Publix, a supermarket chain, Nothing Bundt Cakes and some local Mariano’s stores. When Sandler first started the business, she crafted the candles out of kitchen space she rented from local bakeries. Now, the chocolate candles are made by a manufacturer in Ohio. When people learned about her edible candle business, she said they would often say she should be on “Shark Tank.” “Every time I thought, ‘Oh they’d eat me alive,’” Sandler said. “It was sort of a distant fantasy that I never imagined actually happening.” In August of 2022, Sandler found a number of emails from agents with the reality TV show in her spam folder inviting her to apply for the show. Unfortunately, by the time Sandler responded casting for the 14th season had already closed. Five months later in January, Sandler and Michelson applied for a spot to pitch their business on season 15 of “Shark Tank.” The process of applying, which included the making of a video, was “exciting” and “arduous,” Sandler said. In June of 2023, the Highland Park couple were filmed making their pitch to the five industry “sharks.” Walking into the tank, Sandler said, “The sharks felt familiar” because the couple watched countless episodes ahead of time to prepare, thanks to the advice from some show producers. Due to nondisclosure agreements, Sandler could not share the outcome of her time with the sharks and whether she and her husband received an investment. To prepare for Friday’s airing of their appearance on the show, Sandler and Michelson have been stocking inventory with their various vendors and bulking up their website in hopes the show draws in more customers. The couple is also planning a watch party with family, friends and many of the vendors who helped them get to this career point: manufacturers, graphic designers and business mentors. “I’m just so excited to be able to publicly thank people that have really helped us get here and just celebrate,” Sandler said. The entire experience feels validating for Sandler and her business dream. “There were so many challenges along the way,” she said. “But I just kept putting one foot in front of the other without really a plan B — just kept going.” Sandler said starting a business can be lonely, but local professional entrepreneur groups helped bring her the support and mentorship she needed. “A lot of friends have said to me, long before the ‘Shark Tank’ thing, how inspirational I’ve been, because people are scared to pivot or start something new,” Sandler said. “It just feels really validating.” chilles@chicagotribune.com.....»»
This fast food chain is bigger than Subway and McDonald"s in the UK, and it"s famous for a food item many Americans have never heard of
Greggs is best known for its cheap sausage rolls — a delicacy little -eaten in the US, and their vegan counterparts. Grace Dean/Business InsiderGreggs, a British bakery chain, has more locations than Subway and McDonald's.It's best known for its cheap sausage rolls — as well as their vegan counterparts famously slated by Piers Morgan.Greggs posted booming sales, which it credited to store openings, more evening trade, and its delivery business.Greggs is something of a British institution.The bakery chain has close to 2,500 stores in the UK. That's more than the 1,436 restaurants McDonald's had at the end of 2023, and Subway's roughly 2,200 stores.Greggs is based in Newcastle in the northeast of England – and in some parts of northern England, it's hard to avoid.The company just posted booming sales, with revenues up nearly 20% in 2023.Greggs is known for being cheap.Grace Dean/Business InsiderDon't go to Greggs expecting luxury. People generally go to Greggs because it's cheap and convenient — and because it tastes good.As well as individual items at low price points, Greggs has increasingly focused on bundling in recent years: You can get discounts if you get a drink with your pastry or slice of pizza or add potato wedges for a lower price.Its most famous item is its sausage roll – as well as its vegan counterpart.Grace Dean/Business InsiderThe sausage roll is undoubtedly Greggs' best-known product. In 2016, it was shifting 2.5 million of the flakey, savory rolls a week.Greggs' sausage rolls, which weigh in at around 3.6 ounces each, are made from seasoned sausage meat wrapped in puff pastry. They're best served hot straight from the oven, though Greggs notes that it doesn't keep them heated after they're baked as they would be subjected to higher levels of tax.In 2019, Greggs caused a storm when it unveiled a vegan version of the snack, made using a bespoke filling developed with mycoprotein company Quorn. Its distinguishable from its meaty counterpart by the pattern of the pastry.Piers Morgan famously hated the vegan sausage roll.Grace Dean/Business InsiderTV presenter Piers Morgan may have helped boost sales for Greggs when he slated the company's release of its vegan sausage roll."Nobody was waiting for a vegan bloody sausage, you PC-ravaged clowns," Morgan wrote on X after Greggs announced the snack's launch."They stink," Morgan said in a review on breakfast show "Good Morning Britain" in 2019. He took a bite of a sausage roll and then spat it into a bin. "Why would anyone eat this?" he said.I personally think the I vegan sausage rolls from Greggs taste really good, and the popularity of the item has helped lead to them becoming more widespread at cafés and supermarkets.You can generally tell it's not made from meat, though. I had one this week and thought that the flavor was pretty much identical to a meaty sausage roll, but the texture was a bit too mushy. But the flaky pastry was delicious and wasn't greasy or claggy. It cost me just £1.45 ($1.84) from a store in central London.Greggs has a cult-like status in the UK.Grace Dean/Business InsiderGreggs has a massive fan base, and it knows how to use this to get more publicity and pull in sales.Greggs got a huge amount of online traction when it unveiled a partnership with Irish fast-fashion retailer Primark in early 2022. The collection ranged from bucket hats and bags to shorts, shoes, and underwear with the company's logo and sausage roll motifs.It also partnered with luxury Newcastle department store Fenwick to open a so-called "Bistro Greggs" for the month of December 2023, with dishes like its iconic Steak Bake served with dauphinoise potatoes, green beans, and almonds and an afternoon tea featuring a range of its pastries.You can get pretty much any meal at Greggs.Grace Dean/Business InsiderI went to Greggs at around 11 a.m. on a Tuesday and was surprised by how busy the store was.It has a booming breakfast trade thanks to its sausage, bacon, and egg sandwiches. Its cheap pastries, sandwiches and salads make it a popular spot for people wanting to grab an on-the-go lunch, as well as for office workers to bring to their desk. Alongside savory options, it has a range of sweet treats like doughnuts, cookies, and sugary pastries for mid-morning pick-me-ups or to get you over that afternoon slump.As well as own-brand packaged items, like potato chips, orange juice, and water, it also sells some branded potato chips and cold drinks.It's focusing on its evening business with options like pizza.Grace Dean/Business InsiderA recent area of focus for Greggs is evening trade.It's been keeping its stores open later: Around half of its stores are now open until 7 p.m. or later, with items like chicken goujons, potato wedges, and pizza selling well in the evenings, Greggs says.Whereas previously it just sold pizza slices, Greggs sells pizza boxes, too, enabling it to target group, as well as individual, meals. At the Greggs I went to, they started at £8.65 ($11) for a six-slice box.I got all this for under $18.Grace Dean/Business InsiderWhen I visited a Greggs in central London on Tuesday, I got all this for £13.90 (about $17.70). The most expensive item was the salad box featuring sweet potato bhajis and rice, which cost £4 ($5.09). This was followed by the chicken mayonnaise baguette at £3.85 ($4.90).Because there were so many bundles advertised in store, I wasn't sure how much it was going to cost when the cashier rang it through. I ended up getting the salad box and the cup of tea in a bundle for £4.50 ($5.73), whereas they would have cost £5.45 ($6.93) to buy individually.A lot of its stores have café seating, too.Grace Dean/Business InsiderGreggs traditionally sold food to eat on the go, but many of its stores are more like cafés, with a range of seating including high counters with stools, chairs positioned around tables, and comfy armchairs.The Greggs I visited in central London had lots of plug sockets, but I didn't notice anyone working from the café — apart from me.More people are getting delivery.Grace Dean/Business InsiderPrices at Greggs are so low that you might not think delivery would be part of its business. But that's not the case.The chain rolled out delivery services with Just Eat in 2020 and introduced delivery with Uber Eats last year. More than half of its stores now offer delivery, Greggs said in its annual report on Tuesday.Delivery still only makes up a tiny proportion of Greggs' total sales — just 5.6% at company-managed stores in 2023.But they're on the rise. Delivery sales increased 23.6% in 2023 compared to 2022, Greggs said.Sales are soaring.Grace Dean/Business InsiderGreggs just posted booming sales.It reported total sales of £1.81 billion ($2.30 billion) for 2023, a jump of 19.6% year-over-year. Like-for-like sales at company-managed stores were up 13.7% from 2022, Greggs said.The company announced plans in 2021 to double its sales by 2026. CEO Roisin Currie said in a statement Tuesday that the chain was "very much on track" to meet its goal.Greggs credited its success to the opening of news stores, its delivery business, its growing evening trade, and an increase in customers seeking cheap eats amid the UK's cost-of-living crisis.Greggs reported underlying pre-tax profit excluding exceptional income of £167.7 million ($212.7 million) in 2023, a 13.1% increase on the prior year.Read the original article on Business Insider.....»»
Century-old Loop towers top Preservation Chicago’s most endangered list for third year, joined by birthplace of Butternut Bread and a Cabrini-Green mural
The last vestiges of the Chicago School of Architecture, the buildings remain in limbo despite efforts to designate the early high-rises as local landmarks. For the third year in a row, a pair of century-old Loop skyscrapers facing demolition by the federal government top Preservation Chicago’s annual list of the city’s seven most endangered buildings. The vacant Century and Consumers buildings in the 200 block of South State Street, the last vestiges of the Chicago School of Architecture, remain in limbo, despite ongoing efforts to designate the early high-rises as local landmarks and spare them from the wrecking ball. On the bright side, preservationists say, the historic steel-framed terra cotta buildings are still standing. “They remain on our Chicago 7 list until they’re resolved, in some way, shape or form,” said Ward Miller, executive director of Preservation Chicago, a nonprofit group focused on protecting historically significant architectural structures. A number of new old buildings have also made the group’s most endangered list this year. 20 years of historic buildings at risk: Preservation Chicago’s full list Sheffield-Belden Group DePaul University’s plan to build a $60 million brick-and-glass basketball practice facility on its Lincoln Park campus has generated opposition over the required demolition of four century-old townhouses and a courtyard apartment building that stand in its way at the northwest corner of Sheffield and Belden avenues. Built in the 1890s, the four freestanding brick-and-stone Romanesque Revival townhouses serve as student housing and university offices. The adjacent 98-year-old Renaissance Revival courtyard apartment building was acquired by DePaul in 2021. Buildings from 2302 to 2316 on North Sheffield Avenue in Chicago are seen Nov. 10, 2023. DePaul University is proposing to tear down five buildings on its campus to make way for a state-of-the-art basketball facility. (Antonio Perez/ Chicago Tribune) All five buildings are contributing structures in the Sheffield National Register Historic District, which has been losing ground to redevelopment, mostly by the university. DePaul plans to begin demolition of the five buildings as soon as the summer of 2025, with completion of the new basketball facility targeted for fall 2026. Preservation Chicago has proposed relocating the basketball practice facility to a surface parking lot a block away at Sheffield and Fullerton avenues. But on its website, DePaul said the lot is reserved by the university for a “higher purpose,” with zoning approval in place for the development of a mixed-use housing and academic facility. Ogden Keeler Industrial Buildings Three historic manufacturing buildings along West Ogden and South Keeler avenues are threatened with demolition by the latest industrial trend — the development of a proposed logistics center. Located on the border of the Little Village and Lawndale communities, the century-old former headquarters of Western Felt Works and the Turner Manufacturing Co. are both historically and architecturally significant. The Turner Manufacturing Co. building, designed by acclaimed Chicago architect Alfred S. Alschuler, is one of three historic manufacturing buildings along West Ogden and South Keeler avenues threatened with demolition for the development of a proposed logistics center. (Max Chavez/Preservation Chicago) Turner Manufacturing Co., a large producer of framed art and wall accessories, occupied two Prairie School and Classical Revival buildings designed by acclaimed Chicago architect Alfred S. Alschuler. Alschuler’s other buildings include the landmarked London Guarantee & Accident Building on Michigan Avenue and the landmarked KAM Isaiah Israel synagogue in Hyde Park. Western Felt Works, once billed as the largest independent felt mill in the U.S., was housed in a 108-year-old Prairie School plant designed by architect R.C. Fletcher. A proposal by IDI Logistics would level all three historic manufacturing buildings, along with neighboring structures, to make way for a 246,200- square-foot warehouse facility on a nearly 15-acre site. “These are three unusual buildings that are all being threatened for a truck dock on Ogden Avenue,” Miller said. Preservation Chicago is recommending the logistics center relocate to a more industrially dense area. If the project does move forward at the current site, the group is advocating IDI Logistics retrofit the three historic manufacturing facilities or preserve their facades to maintain a connection to the “storied industrial past” of the area. Schulze Baking Co. Plant When the Schulze Baking Co. plant opened its five-story factory at the corner of East Garfield Boulevard and South Wabash Avenue in 1915, so impressive was the building it hosted an opening ball, where members of the press and thousands of invited guests received white carnations and miniature loaves of the bakery’s signature Butternut Bread. Designed by prominent architecture firm John Ahlschlager & Son, the building features an exterior of white enameled brick set off by decorative features in black tile and blue terra cotta, all meant to convey the beauty of its Washington Park setting, and the “cleanliness” of its modern bakery, according to its 1982 submission to the National Register of Historic Places. The Schulze Bakery building at 40 E. Garfield Blvd. is seen April 22, 2015.Once the highest-producing baking company in the country, the Schulze Bakery building in Chicago’s Washington Park neighborhood was built in 1914, designed by firm John Ahlschlager & Son. It was listed in the National Register of Historic Places in 1982.(Zbigniew Bzdak/Chicago Tribune) The company and plant became part of Interstate Bakeries in the 1930s. In 1997, Lewis Bakeries acquired the plant, where it continued to make Butternut Bread until it was closed in 2004. While Butternut Bread was outsourced to other Lewis plants, its original home has been dormant for two decades. In 2015, new owners announced plans to convert it to a data center, but that did not come to fruition and the deteriorating building has remained vacant. It was put up for sale again in January, according to Preservation Chicago, and needs a new owner to pursue “full restoration and reuse” to ensure the future of the historic plant. Preservation Chicago is also advocating the plant be designated a Chicago landmark to facilitate its restoration and adaptive reuse. “You can still demolish a building that’s on the National Register,” Miller said. “The only way to really protect a building in Chicago with teeth, to keep these buildings from coming down, is a Chicago landmark designation.” Chicago Vocational Career Academy Completed in 1941, Chicago Vocational School on East 87th Street in Avalon Park is one of the most notable and largest Art Deco/Art Moderne buildings outside of downtown. Conceived as a South Side counterpart to Lane Tech, the massive four-structure complex on 22 acres stands as a monument to education and the city’s architectural history. But with dwindling enrollment at the school, now known as Chicago Vocational Career Academy, both the building and its purpose are in jeopardy. “It’s really a remarkable school,” Miller said. “We see it kind of winding down.” Chicago Vocational Career Academy, seen on July 13, 2021, stands as a monument to education. (Vashon Jordan Jr./Chicago Tribune) Designed to accommodate upward of 6,000 students, enrollment was down to about 800 as of last year. In 2022, a group of CVS alumni successfully got the structure listed on the National Register of Historic Places, and is now working toward getting a Chicago landmark designation as well to help preserve the school. While there are no announced plans to close the school, the historic facility needs a cash infusion to address deferred maintenance. Achieving Chicago landmark status could catalyze fundraising and position it for adaptive reuse in the event the public school is eventually decommissioned, Miller said. All of Mankind Mural/Stranger’s Home Missionary Baptist Church A church adorned with a series of murals depicting the Black experience in America was long a symbol of the adjacent Cabrini-Green public housing complex on Chicago’s Near North Side. While the Cabrini-Green high-rises were demolished between 1995 and 2011, the 123-year-old church is still standing. The 52-year-old murals, however, have been whitewashed. Preservation Chicago wants to save and restore the church and the murals. “All of Mankind” on the facade at the Stranger’s Home Church, 617 W. Evergreen Ave., by Bill Walker, is seen in 2011. (E. Jason Wambsgans/ Chicago Tribune) Built in 1901 and designed by John Neal Tilton, the Gothic Revival building at 617 W. Evergreen Ave. was christened as San Marcello Mission Church and was the center of religious life for nearby Italian immigrants. After the Cabrini-Green towers rose up around it, the church was reborn in the 1970s as Stranger’s Home Missionary Baptist Church and updated with murals painted by noted Chicago artist William Walker. The murals, collectively known as “All of Mankind,” included a distinctive and powerful facade promoting brotherhood and unity. In 2015, the facade was whitewashed in preparation for selling the church building. Preservationists believe the murals still exist underneath layers of paint, and a coalition of neighborhood and arts groups have been working to purchase the church, redevelop it as a community center and restore Walker’s work. Swift-Morris Mansion The Swift-Morris Mansion, home to everything from the first family of Chicago meatpacking to social service organizations, has been a fixture of Bronzeville throughout its storied 132-year-history. Designed by James R. Willett and Alfred Pashley and built in 1892, the Richardsonian Romanesque/Queen Anne mansion at 4500 S. Michigan Ave. was long the South Side’s answer to the Gold Coast, in large part due to its first resident: Helen Swift Morris, heiress to the Swift meatpacking business. The Swift-Morris Mansion in the 4500 block of South Michigan Ave. in Chicago’s Bronzeville community, seen March 12, 2021, was placed on the National Register of Historic Places. (Abel Uribe/Chicago Tribune) Over the years, the mansion has been home to a funeral parlor, an insurance office, the Cook County Bar Association, the Chicago Urban League and the Inner City Youth and Adult Foundation. The property was placed on the National Register of Historic Places in 1978, but recent history has been less kind. In December, the mansion was the site of a fire that damaged the upper floor, attic and roof, prompting an arson investigation. Preservation Chicago is recommending the mansion be designated a Chicago landmark and restored to its former glory for future residential, commercial or mixed use. Century & Consumers Buildings Completed in 1915, the 16-story Century Building at 202 S. State St. was designed by Holabird & Roche, a pioneering Chicago architecture firm that built a number of prominent commercial high-rises. The 22-story Consumers Building at 220 S. State St. was completed in 1913 and designed by Jenney, Mundie & Jensen. Lead architect William Le Baron Jenney is credited as building the first modern skyscraper, the nearby Home Insurance Building, in 1885. Time may be running out on the historic high rises, however. In 2022, legislators approved a $52 million bill to demolish the buildings, which the government acquired in 2007 as a security buffer and potential federal office expansion behind the adjacent Dirksen U.S. Courthouse. Preservation Chicago has been pushing for an adaptive reuse of the buildings as a collaborative national archives center. The Consumers, left, and Century buildings, at 220 and 202 S. State St. in the Loop, remain in danger of demolition from the federal government’s plan to protect the Dirksen U.S. Courthouse, on March 5, 2024. (Brian Cassella/Chicago Tribune) The General Services Administration, which manages government-owned buildings, has been holding a series of public meetings to determine the fate of the decaying Century and Consumers buildings, but it has also begun some measure of demolition in and around the site. In April 2023, the GSA tore down a vacant three-story building sandwiched between the Century and Consumers buildings, using $3.2 million of the allocated demolition funds. It removed the exterior fire escape from the Century building in the fall and resumed work stabilizing the parapet this week. Last year, the buildings received a final landmark recommendation from the Commission on Chicago Landmarks, but have yet to get the full designation from the City Council, Miller said. Even that is no guarantee that the buildings would be preserved, he said. “Our local landmark ordinances and laws could be trumped by the GSA,” Miller said. “They can still tear down a landmark building because they’re the higher authority in the process.” rchannick@chicagotribune.com.....»»
Century-old Loop towers top Preservation Chicago’s most endangered list for third year, joined by birthplace of Butternut bread and a Cabrini-Green mural
The last vestiges of the Chicago School of Architecture, the buildings remain in limbo despite efforts to designate the early high-rises as local landmarks. For the third year in a row, a pair of century-old Loop skyscrapers facing demolition by the federal government top Preservation Chicago’s annual list of the city’s seven most endangered buildings. The vacant Century and Consumers buildings in the 200 block of South State Street, the last vestiges of the Chicago School of Architecture, remain in limbo, despite ongoing efforts to designate the early high-rises as local landmarks and spare them from the wrecking ball. On the bright side, preservationists say, the historic steel-framed terra cotta buildings are still standing. “They remain on our Chicago 7 list until they’re resolved, in some way, shape or form,” said Ward Miller, executive director of Preservation Chicago, a nonprofit group focused on protecting historically significant architectural structures. A number of new old buildings have also made the group’s most endangered list this year. 20 years of historic buildings at risk: Preservation Chicago’s full list Sheffield-Belden Group DePaul University’s plan to build a $60 million brick-and-glass basketball practice facility on its Lincoln Park campus has generated opposition over the required demolition of four century-old townhouses and a courtyard apartment building that stand in its way at the northwest corner of Sheffield and Belden avenues. Built in the 1890s, the four freestanding brick-and-stone Romanesque Revival townhouses serve as student housing and university offices. The adjacent 98-year-old Renaissance Revival courtyard apartment building was acquired by DePaul in 2021. Buildings from 2302 to 2316 North Sheffield Avenue in Chicago, on Nov. 10, 2023. DePaul is proposing to tear down five buildings on its campus to make way for a state-of-the-art basketball facility. (Antonio Perez/ Chicago Tribune) All five buildings are contributing structures in the Sheffield National Register Historic District, which has been losing ground to redevelopment, mostly by the university. DePaul plans to begin demolition of the five buildings as soon as the summer of 2025, with completion of the new basketball facility targeted for fall 2026. Preservation Chicago has proposed relocating the basketball practice facility to a surface parking lot a block away at Sheffield and Fullerton avenues. But on its website, DePaul said the lot is reserved by the university for a “higher purpose,” with zoning approval in place for the development of a mixed-use housing and academic facility. Ogden Keeler Industrial Buildings Three historic manufacturing buildings along West Ogden and South Keeler avenues are threatened with demolition by the latest industrial trend — the development of a proposed logistics center. Located on the border of the Little Village and Lawndale communities, the century-old former headquarters of Western Felt Works and the Turner Manufacturing Co. are both historically and architecturally significant. The Turner Manufacturing Company building, designed by acclaimed Chicago architect Alfred S. Alschuler, is one of three historic manufacturing buildings along West Ogden and South Keeler avenues are threatened with demolition for the development of a proposed logistics center. (Max Chavez/Preservation Chicago) Turner Manufacturing Co., a large producer of framed art and wall accessories, occupied two Prairie School and Classical Revival buildings designed by acclaimed Chicago architect Alfred S. Alschuler. Alschuler’s other buildings include the landmarked London Guarantee & Accident Building on Michigan Avenue and the landmarked KAM Isaiah Israel synagogue in Hyde Park. Western Felt Works, once billed as the largest independent felt mill in the U.S., was housed in a 108-year-old Prairie School plant designed by architect R.C. Fletcher. A proposal by IDI Logistics would level all three historic manufacturing buildings, along with neighboring structures, to make way for a 246,200- square-foot warehouse facility on a nearly 15-acre site. “These are three unusual buildings that are all being threatened for a truck dock on Ogden Avenue,” Miller said. Preservation Chicago is recommending the logistics center relocate to a more industrially dense area. If the project does move forward at the current site, the group is advocating IDI Logistics retrofit the three historic manufacturing facilities or preserve their facades to maintain a connection to the “storied industrial past” of the area. Schulze Baking Company Plant When the Schulze Baking Co. plant opened its five-story factory at the corner of East Garfield Boulevard and South Wabash Avenue in 1915, so impressive was the building it hosted an opening ball, where members of the press and thousands of invited guests received white carnations and miniature loaves of the bakery’s signature Butternut Bread. Designed by prominent architecture firm John Ahlschlager & Son, the building features an exterior of white enameled brick set off by decorative features in black tile and blue terra cotta, all meant to convey the beauty of its Washington Park setting, and the “cleanliness” of its modern bakery, according to its 1982 submission to the National Registry of Historic Places. The Schulze Bakery building at 40 E. Garfield Blvd., in Chicago on April 22, 2015.Once the highest-producing baking company in the country, the Schulze Bakery building in Chicago’s Washington Park neighborhood was built in 1914, designed by firm John Ahlschlager & Son. It was listed in the National Register of Historic Places in 1982.(Zbigniew Bzdak/Chicago Tribune) The company and plant became part of Interstate Bakeries in the 1930s. In 1997, Lewis Bakeries acquired the plant, where it continued to make Butternut Bread until it was closed in 2004. While Butternut Bread was outsourced to other Lewis plants, its original home has been dormant for two decades. In 2015, new owners announced plans to convert it to a data center, but that did not come to fruition and the deteriorating building has remained vacant. It was put up for sale again in January, according to Preservation Chicago, and needs a new owner to pursue “full restoration and reuse” to ensure the future of the historic plant. Preservation Chicago is also advocating the plant be designated a Chicago landmark to facilitate its restoration and adaptive reuse. Chicago Vocational Career Academy Completed in 1941, Chicago Vocational School on East 87th Street in Avalon Park is one of the most notable and largest Art Deco/Art Moderne buildings outside of downtown. Conceived as a South Side counterpart to Lane Tech, the massive four-structure complex on 22 acres stands as a monument to education and the city’s architectural history. But with dwindling enrollment at the school, now known as Chicago Vocational Career Academy, both the building and its purpose are in jeopardy. “It’s really a remarkable school,” Miller said. “We see it kind of winding down.” Chicago Vocational Career Academy on July 13, 2021. (Vashon Jordan Jr./Chicago Tribune) Designed to accommodate upward of 6,000 students, enrollment was down to about 800 as of last year. In 2022, a group of CVS alumni successfully got the structure listed on the National Register of Historic Places, and is now working toward getting a Chicago landmark designation as well to help preserve the school. While there are no announced plans to close the school, the historic facility needs a cash infusion to address deferred maintenance. Achieving Chicago landmark status could catalyze fundraising and position it for adaptive reuse in the event the public school is eventually decommissioned, Miller said. All of Mankind Mural/Stranger’s Home Missionary Baptist Church A church adorned with a series of murals depicting the Black experience in America was long a symbol of the adjacent Cabrini-Green public housing complex on Chicago’s Near North Side. While the Cabrini-Green high-rises were demolished between 1995 and 2011, the 123-year-old church is still standing. The 52-year-old murals, however, have been whitewashed. Preservation Chicago wants to save and restore the church and the murals. All of Mankind at the Stranger’s Home Church, 617 W. Evergreen Ave., by Bill Walker, photographed in 2011. (E. Jason Wambsgans/ Chicago Tribune) Built in 1901 and designed by John Neal Tilton, the Gothic Revival building at 617 W. Evergreen Ave. was christened as San Marcello Mission Church and was the center of religious life for nearby Italian immigrants. After the Cabrini-Green towers rose up around it, the church was reborn in the 1970s as Stranger’s Home Missionary Baptist Church and updated with murals painted by noted Chicago artist William Walker. The murals, collectively known as “All of Mankind,” included a distinctive and powerful facade promoting brotherhood and unity. In 2015, the facade was whitewashed in preparation for selling the church building. Preservationists believe the murals still exist underneath layers of paint, and a coalition of neighborhood and arts groups have been working to purchase the church, redevelop it as a community center and restore Walker’s work. Swift-Morris Mansion The Swift-Morris Mansion, home to the first family of Chicago meatpacking to social service organizations, has been a fixture of Bronzeville throughout its storied 132-year-history. Designed by James R. Willett and Alfred Pashley and built in 1892, the Richardsonian Romanesque / Queen Anne mansion at 4500 S. Michigan Ave. was long the South Side’s answer to the Gold Coast, in large part due to its first resident: Helen Swift Morris, heiress to the Swift meatpacking business. The Swift-Morris Mansion in the 4500 block of South Michigan Ave., in the Bronzeville community on March 12, 2021. (Abel Uribe/Chicago Tribune) Over the years, the mansion has been home to a funeral parlor, an insurance office, the Cook County Bar Association, the Chicago Urban League and the Inner City Youth and Adult Foundation. The property was placed on the National Register of Historic Places in 1978, but recent history has been less kind. In December, the mansion was the site of a fire that damaged the upper floor, attic and roof, prompting an arson investigation. Preservation Chicago is recommending the mansion be designated a Chicago landmark and restored to its former glory for future residential, commercial or mixed use. Century & Consumers Buildings Completed in 1915, the 16-story Century Building at 202 S. State St. was designed by Holabird & Roche, a pioneering Chicago architecture firm that built a number of prominent commercial high-rises. The 22-story Consumers Building at 220 S. State St. was completed in 1913 and designed by Jenney, Mundie & Jensen. Lead architect William Le Baron Jenney is credited as building the first modern skyscraper, the nearby Home Insurance Building, in 1885. Time may be running out on the historic high rises, however. In 2022, legislators approved a $52 million bill to demolish the buildings, which the government acquired in 2007 as a security buffer and potential federal office expansion behind the adjacent Dirksen U.S. Courthouse. Preservation Chicago has been pushing for an adaptive reuse of the buildings as a collaborative national archives center. The Consumers, left, and Century Buildings, at 220 and 202 S. State St., remain in danger of demolition from the federal government’s plan to protect Dirksen U.S. Courthouse, left, on March 5, 2024, in the Loop. (Brian Cassella/Chicago Tribune) The General Services Administration, which manages government-owned buildings, has been holding a series of public meetings to determine the fate of the decaying Century and Consumers buildings, but it has also begun some measure of demolition in and around the site. In April 2023, the GSA tore down a vacant three-story building sandwiched between the Century and Consumers buildings, using $3.2 million of the allocated demolition funds. It removed the exterior fire escape from the Century building in the fall and resumed work stabilizing the parapet this week. Last year, the buildings received a final landmark recommendation from the Commission on Chicago Landmarks, but have yet to get the full designation from the city council, Miller said. Even that is no guarantee that the buildings would be preserved, he said. “Our local landmark ordinances and laws could be trumped by the GSA,” Miller said. “They can still tear down a landmark building because they’re the higher authority in the process.” rchannick@chicagotribune.com.....»»
Panera Bread franchise owner — and Newsom"s donor — is going to raise wages after all
California Gov. Newsom faced backlash over what looked like a minimum wage carve-out for a donor. Now, the donor says he'll boost pay regardless. Gov. Gavin Newsom (left) and a California Panera Bread storefront.NBC, Gado/Getty ImagesThe franchise owner of dozens of Panera Breads in California said he'll raise the minimum wage for staff.The owner is a major donor to Gov. Gavin Newsom.Newsom faced blowback last week for appearing to carve out an exemption in a new law for Panera. A billionaire donor to California Gov. Gavin Newsom said he's raising pay at his Panera Bread locations after it was widely reported that they'd be exempt from a new state law boosting the minimum wage.Greg Flynn, the franchise owner of 24 Panera Breads in the state, announced on Tuesday that he would raise the minimum wage at his locations from $16 to $20.Newsom and Flynn have known each other for years, and Flynn has been a longtime donor to Newsom's campaign, Business Insider previously reported. That connection brought Newsom under fire last week because the state's new law appeared to have a potential, specific exception for Panera Bread.The new law requires fast food chains with 60 or more locations to increase the minimum wage for their workers beginning on April 1. But, the law includes an exemption for restaurants that bake bread and sell it as a stand-alone item.(If you're wondering, bagels or croissants don't count as "bread" under the law.)A spokesperson for the governor told Business Insider that Panera may not be exempt from the new law because the chain prepares its dough at an off-site location before stores bake it.Flynn said last week that although he had suggested excluding fast-casual restaurants from the bill, he never asked for special considerations and never met directly with Newsom about the bill, Bloomberg reported.After the backlash, Flynn said his restaurants would follow the law — even if they didn't have to."Regardless of whether the bakery exemption in AB1228 applies to our bakery-cafes, California locations owned and operated by Flynn Group will increase all hourly pre-tip wages to $20 per hour or higher effective April 1," Flynn said in his Tuesday statement, according to KCRA.Flynn's pay bump for Panera workers won't affect workers at the remaining 164 locations in California not owned by the Flynn Group — unless the governor's office confirms that no Paneras are exempt.The Flynn Group did not immediately respond to BI's request for comment.Read the original article on Business Insider.....»»
I tried Tripadvisor"s free AI tool to plan trips to Maui and Montreal. It was useful in some ways, but I won"t stop doing my own trip research.
Tripadvisor's free AI planning tool made some useful recommendations but left off others. Some may find it useful for initial research. The road to Hana on the island of Maui, Hawaii.Matteo Colombo/Getty ImagesI tried using Tripadvisor's free AI planning tool to plan a couple of trips.It made some solid recommendations but also left out others and lacked useful context.Ultimately, some may find it helpful for initial planning, but I don't think I'll use it again.Before I got a 9-to-5, I spent a good chunk of my 20s freelancing while traveling out of a van or working on farms abroad so that I could stay for free weeks at a time.These days, my travel time is truncated and, naturally, more precious. If I am taking a week off work, I want to make the absolute most of my time — and that's where good planning comes in.When my editor suggested having someone try out Tripadvisor's free AI trip builder, I immediately volunteered — yes, because I am a team player, but also because I thought I might personally find it useful.I used it to plan two potential trips: one to Maui, a place I am very familiar with and recently visited, and one to Montreal, a place I have never been but am planning to visit later this year.Overall, I found Tripadvisor's AI planner to be a little helpful for initial research, to get a lay of the land and a general idea of what there is to do in a destination. But it also suggested itineraries that didn't make a ton of sense and weren't tailored enough to me personally to be super worthwhile.It's worth noting the tool, which launched in July and uses OpenAI's generative AI technology, is in public beta.Tripadvisor did not respond to a request for comment from Business Insider.Here's a breakdown of how it went.The Maui itinerary had some good ideas, but, overall, the responses were lackingThe trip planner starts by asking some basic questions:Where do you want to go? (The world is your oyster!)When do you want to go? (You can select specific dates or just a trip length, which I thought was useful.)Who's coming with you? (Going solo or traveling with a partner, friends, or family.)How do you want to spend your time? (Suggested options you can select include "must-see attractions," "great food," and "museums," and you can type in your own, like "shopping" or "nightlife.")And that's it! Certainly all important information, but not enough to differentiate me from the next person traveling to Maui in May with their partner who is also interested in great food, hidden gems, and outdoor adventures.The resulting itinerary led off with a generic, clearly AI-generated paragraph about how great traveling to Maui is (I know, that's why I'm going!). A five-day itinerary with different activities and restaurants is suggested for each day.Molokini Crater in Maui, Hawaii.M Swiet Productions/Getty ImagesThe tool recommended plenty of attractions on Maui that are well worth any visitor's time: Ho'okipa Beach Park, a gorgeous beach and surf spot where you can see sea turtles chilling on the sand; the Road to Hana, a famous winding drive through tropical rainforests with pull-outs for waterfalls and a black sand beach; and Molokini Crater, a volcanic crater accessible by boat and famous for snorkeling.But it also recommended doing them at weird times. For instance, it said to hit Hana after lunch. The Road to Hana is typically a whole day trip, lasting anywhere from five to seven hours depending on stops, which is kind of the point. The tool even pointed this out — noting that people say it's best to leave early or stay overnight in Hana — but didn't recommend doing either of those things in the planned itinerary.On another day, it recommended hitting a famous bakery in the morning and heading to a natural area reserve one hour away — which might make sense if you are staying near the bakery, but if you are staying in another area of the island, that would be quite the trek just for breakfast. (Also the bakery in question is currently closed since the wildfires that destroyed much of Lahaina last year.)But for the most part, the tool tended to recommend attractions and restaurants that were generally in the same area of the island, which was helpful in getting a general lay of the land. It also recommended some iconic restaurants, including famous fine-dining spot Mama's Fish House, the excellent food truck Geste Shrimp, and Da Kitchen, which serves delicious Hawaiian dishes.Mama's Fish House is one of Maui's most famous fine-dining restaurants.Smith Collection/Gado/Getty ImagesIt left off some well-known, must-visit restaurants — like Monkeypod Kitchen and their signature mai tai with lilikoi foam, the famous roadside pies from Leoda's Kitchen and Pie Shop, and South Maui Fish Company's classic Hawaiian poke.It also called some attractions "hidden gems" that are, in fact, among the most popular things to do on the island.Ultimately, the Maui itinerary gave me some good ideas but also some not-so-good ones, and missed many others. The itinerary schedule was also often not ideal.Tripadvisor's AI tool was useful for initial research on MontrealUsing the tool to plan a trip to a place I know next to nothing about made me appreciate it a bit more. This time, I asked it to plan for a 5-day trip to Montreal with a group of friends in May.The resulting itinerary included some restaurants I definitely bookmarked and a few museums I plan to visit. But because I know the Maui itinerary left off some key things, I will still have to do my usual research before going to Montreal — which typically involves spending hours reading every article or blog of "top ten things to eat" or "coolest neighborhoods to visit."The most useful aspect of Tripadvisor's AI tool was that the itinerary came with a map that marked all of the attractions and restaurants it recommended. For Montreal, it allowed me to quickly pick up a general sense of the city center, where things like museums or historic buildings are concentrated, and how large an area the typical tourist attractions cover.Downtown Montreal, Canada.MaremagnumThe tool also allows you to edit the itinerary very easily. You can add new attractions, ask it to generate more recommendations in different categories, and easily click-and-drag items to do them in a different order or on different days.If someone is new to trip planning, I could see it being a useful jumping-off point, albeit one that would require additional research.Surveys conducted by Longwoods International, a market research consultancy specializing in the travel tourism industry, have found that consumers have not taken to using AI to plan trips as quickly as some projected a year ago. In a survey conducted in early February, only 14% of respondents reported using AI to plan trips in the past six months, according to a report shared with Business Insider."While artificial intelligence likely will produce significant changes across the travel industry as it evolves and is deployed, its use as a travel planning tool by consumers thus far remains relatively modest," Amir Eylon, president and CEO of Longwoods International, said.But with AI still relatively young, tools like Tripadvisor's are likely to improve. So, despite not planning to use it again soon, I'll probably try AI trip-planning tools again in the future.Read the original article on Business Insider.....»»
Keefer Court unveils new Asia Mall space, menu (photos)
Once a mainstay near the University of Minnesota, the Chinese bakery is reopening in Eden Prairie's Asia Mall under new ownership and with some new menu items......»»