Coming up this week

Monday, March 6, 2023 by Snacks

Slow jog… On Wednesday Adidas is set to release its first earnings report of the post-Yeezy era. Last year the German shoemaker discontinued its profitable sneaker collab with Kanye West (think: nearly 10% of annual sales) after the singer made antisemitic remarks, among other offensive statements. Now Adidas says it may face an operating loss of nearly $750M and warned investors it could lose $1.2B+ in sales this year. Last month its new CEO said the company would focus on returning to growth with new products in the pipeline.

Cream of mushrooming sales… 150-year-old soup slinger Campbell Soup has been on a roll. The humble soup can has made a comeback (even among millennials) after the pandemic drove Americans to stock up on affordable pantry staples. But there was more to Campbell's moneymaking sauce: repeated price hikes. Yet that strategy is starting to go stale as competitors like Kraft Heinz ease off. When Campbell last reported, it turned heads with 15% sales growth. We'll see whether the chicken noodle is still hot when Campbell reports Wednesday.

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