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=E2=80=A6and Target and Walmart tak= e a hit from rising retail theft
<= /tr>
 
<= !--[if mso | IE]>
=

Tim cooking up a headset? (Justin Sullivan/Getty Images)

 
=
Last Week=E2=80=99s Market Moves
 
Dow Jones
33,763 (+2.02%)		S&P 500
4,282 (+1.83%)		Nasdaq
Bitcoin
$27,215 (+1.= 84%)
Dow Jo= nes
33,763 (+2.02%)		S&P 5004,282 (+1.83%)<= /span>
Nasdaq=
13,241 (+2.04%)		Bitcoin
<= span style=3D"font-family: 'General Grotesque Bold', Arial; font-weight: 70= 0;">$27,215 (+1.84%)
=
=
=
<= /table>

Hey Snackers,

More st= ressful than an oversized carry-on: Air New Zealand plans to start weighing passengers before they board international flights. = It said weight data will stay anonymous, but it sounds like a new fear has = been unlocked.

Stocks popped last week after Congress passed a debt-l= imit deal and the May jobs report came in stronger than expected. Over the = weekend, President Biden signed the bill to suspend the debt ceiling, avert= ing a US default at the eleventh hour.

Btw... Do = you want to start getting Snacks daily? Or prefer to unsubscribe? Manage yo= ur subscription preferences here.

Shades
=
<= /table>
<= div style=3D"font-family: 'General Grotesque Bold', Arial; font-weight: 700= ; letter-spacing: 0.03em; text-transform: uppercase; color: #000000; paddin= g: 6px 19px; border-radius: 30px; border: 0; background-color:#62E5DA; disp= lay: inline-block;">Zoom Out
<= /table>

Stories we= =E2=80=99re watching

Not dryer-shrunk jeans=E2=80=A6 =E2=80=9CRetail shrink=E2=80=9D (the loss of inventory) is a growing problem in th= e US, and retailers are blaming rising theft. Target recen= tly said that organized retail crime would lead to $500M more in losses thi= s year. Dollar Tree, Home Depot, = T.J. Maxx, and others have cited shrink and theft as a hit to prof= its. FYI: shrink cost retailers $95B in 2021. In December, Walmart<= /strong> said rising theft could even lead to store closures. Now retailers= are bulking up precautions (think: more items behind glass).

Brands get =E2=80=9CBud Lighted=E2=80=9D... This Pride Month is o= ff to a tumultuous start for several companies. Last month Bud Light faced = backlash after transgender influencer Dylan Mulvaney posted about beer that= the AB InBev-owned brand had sent her. Bud sales fell by = as much as 40% in some Southern markets. Target and Kohl=E2=80=99s have been boycotted because of their Pride merch,= and Target pulled some products over threats to employees. Lots of compani= es still plan to move forward with their Pride plans, including Coors Light= =E2=80=99s Denver Pride Parade.

=

<= /tr>
<= /tbody>
<= div style=3D"font-family: 'General Grotesque Bold', Arial; font-weight: 700= ; letter-spacing: 0.03em; text-transform: uppercase; color: #000000; paddin= g: 6px 19px; border-radius: 30px; border: 0; background-color:#62E5DA; disp= lay: inline-block;">Events
<= /table>

Coming up th= is week

The soup=E2=80=99s hot=E2=80=A6 = Campbell's is set to report Wednesday, and the 153-year-old ca= nned-soup icon's been on a roll since shoppers started snapping up pand= emic pantry staples. Before Covid, its sales were falling. In Q2, its sales= grew 12% as consumers kept stocking its snacks like Goldfish and Milanos, = despite price hikes (FYI: half of US consumers now eat 3+ snacks/day). But = as Big Foodies like Campbell, Pepsi, and Kraft get accused of profit-padding prices, snackers could scale back on br= and names.

Never an outfit repeater=E2=80=A6 Rent the Runway could drop =E2=80=99Gram-worthy results this week= as shoppers pay to rent their fits and keep things fresh. In April, RTR po= sted record revenue and subscribers after adding an extra item to its month= ly subscription. Meanwhile, Urban Outfitters' Nuuly re= ntal service more than doubled sales last year, and Urban thinks it could b= ecome a $1B biz. While RTR has yet to turn a profit, rentals are trending u= p: the value of the digi-fashion rental market is expected to 2X to nearly = $3B by 2030.

<= div style=3D"font-family: 'General Grotesque Bold', Arial; font-weight: 700= ; letter-spacing: 0.03em; text-transform: uppercase; color: #000000; paddin= g: 6px 19px; border-radius: 30px; border: 0; background-color:#62E5DA; disp= lay: inline-block;">ICYMI
<= /table>

Last week= 9;s highlights

  • IOU: The US debt deal will end = the pandemic pause on student-loan payments, after three years, restarting = repayments (and interest accrual) for millions of borrowers in August. The = average paused balance =3D $37K.

  • Jet: From Tesla's Elon Musk= to JPMorgan's Jamie Dimon, America=E2=80=99s top CEOs= are flocking back to China for the first time in years. US-China relations= are at a low point, but big biz can=E2=80=99t detach.

  • Sus: Delta has been sued over its carbon-neutrality claims, with p= laintiffs arguing that its carbon offsets are =E2=80=9Cjunk.=E2=80=9D There= =E2=80=99s growing backlash against the unregulated offsets market, which G= reenpeace has labeled a scam.

What else we're Snackin'

  • = Check: Low-= income workers have made historic earnings gains during the pandemic, narro= wing the wage gap between lower and higher earners. A labor shortage sparke= d the trend, but it could soon slow.

  • Icy: The hottest new = home amenity: cold plunges that can cost tens of thousands of dollars. Free= zing dipping pools are part of a wellness trend as spa amenities become mus= t-haves in bougie backyards.

  • = Precious: Once a paper mill,= Albemarle became the most valuable lithium produ= cer after investing $6B nearly a decade ago on a hunch that the metal used = in EV batteries would pop off. TL;DR: it was right.

<= tbody>
Want your Snacks d= aily?
The Daily Newsletter<= /td>
Get fresh takes on financia= l news every week day. Try a sample:

=F0=9F=9A=B8 Amazon=E2=80=99= s privacy fines =E2=80=A2 Jun 2, 2023
=F0=9F=87=A8=F0=9F=87=B3 Elon=E2=80=99s China trip =E2=80=A2 Jun 1, 2023
= =F0=9F=8C=B3 Sustainability side-eye =E2=80=A2 May= 31, 2023

Subscribe to the= Daily
<= /table>
=
Snack Fact Of the Day
Nvidia=E2=80= =99s trillion-dollar biz started as an idea at a Denny=E2=80=99s

<= /table>
This Week

  • Monday: = Apple WWDC keynote. Earnings expected from GitLab and Sprinklr

  • Tuesday: Earnings expected from Cracker Barrel, = Dave & Buster's, J.M. Smucker, an= d Stitch Fix

  • Wednesday: Earnings expected from Campbell Soup, GameStop, and Rent the Runway

  • Thursday: Jobl= ess claims. Earnings expected from DocuSign, Plane= t Labs, Signet Jewelers, Toro, a= nd Vail Resorts

  • Friday: Earnings expected from Nio

Authors of this Snacks own shares of: Apple, Delta, Disney, G= oogle, Kraft Foods, Nvidia, Planet Labs, Tesla, Walmart, Snap, and Microsof= t

=
=
=
= <= /table>
Sh= erwood Media, LLC produces fresh and unique perspectives on topical financi= al news and is a fully owned subsidiary of Robinhood Markets, Inc., and any= views expressed here do not necessarily reflect the views of any other Rob= inhood affiliate... See more
<= div style=3D"font-family:'General Grotesque', Arial;font-size:9px;font-weig= ht:400;line-height:20px;text-align:left;color:#000000;">
Sherwood Terms and= Conditions =E2=80=A2 Our Editorial Principles=  =E2=80=A2 Contact Us =E2=80=A2 Privacy Policy =E2=80=A2&= nbsp;Advertise with us
--9755b3180fa78d5aa0807bbe22253b0b1fe0bc58c8f85209c97b1d7e0faf Content-Transfer-Encoding: quoted-printable Content-Type: text/html; charset=utf-8 Mime-Version: 1.0 @media only screen and (min-width:480px) { .mj-column-per-100 { width: 100% !important; max-width: 100%; } .mj-column-per-50 { width: 50% !important; max-width: 50%; } }
=E2=80=A6and Target and Walmart tak= e a hit from rising retail theft
<= div class=3D"mj-column-per-100 mj-outlook-group-fix" style=3D"font-size:0px= ;text-align:left;direction:ltr;display:inline-block;vertical-align:top;widt= h:100%;">
 
<= div class=3D"mj-column-per-100 mj-outlook-group-fix" style=3D"font-size:0px= ;text-align:left;direction:ltr;display:inline-block;vertical-align:top;widt= h:100%;">
Last Week=E2=80=99s Market Moves
 
Dow Jones
33,763 (+2.02%)		S&P 500
4,282 (+1.83%)		Nasdaq
13,241 (+2.04%)		Bitcoin
$27,215 (+1.84%)
Dow Jones
33,763 (+2= .02%)		S&P 500
4,282 (+1.83%)<= /span>
Nasdaq
13,241 (+2.04= %)		$27,215 (+1.84%)
<= /table>
=

Hey Snackers,<= /p>

More stressful than an oversized carry-on: Air New = Zealand plans to start weighing passengers before they board international flights. It = said weight data will stay anonymous, but it sounds like a new fear has bee= n unlocked.

Stocks popped last week after Congress passed a debt-limi= t deal and the May jobs report came in stronger than expected. Over the wee= kend, President Biden signed the bill to suspend the debt ceiling, averting= a US default at the eleventh hour.

Btw... Do you w= ant to start getting Snacks daily? Or prefer to unsubscribe? Manage your su= bscription preferences here.

3D""
=
Shades
<= /table>

It can p= ay to be late=E2=80=A6 to a party that hasn=E2=80=99t started. App= le has shown it can expand (and define) the markets that it enters (see: iP= hone, Apple Watch). Its interconnected ecosystem of iProducts and famously = sleek design could give it an edge, letting it set a standard and compete f= or market share. But it=E2=80=99s risky: Apple has apparently poured billio= ns into its headset project, and failure would smudge its reputation (and d= ent profits).

<= td align=3D"left" style=3D"font-size:0px;padding:0;padding-top:18px;word-br= eak:break-word;">

Appl= e could resurrect the metaverse with a headset, but it=E2=80=99s a risky (a= nd overdue) bet

Party like it=E2=80=99s 2021=E2=80=A6 Apple could t= ap back into tech=E2=80=99s old New Big Thing: the metaverse. At its annual= software conference this week Apple is expected to reveal long-awaited det= ails of its mixed-reality (both VR and AR) headset. It would be the company= =E2=80=99s first new major product line since 2014=E2=80=99s Apple Watch = =E2=80=94 and has been called Tim Cook=E2=80=99s riskiest move as CEO.

<= ul style=3D"padding-left: 18px;">

  • The rumored $3K price tag is steep, about 6X the cost of Meta's recently announced $500 Quest 3 and roughly 3X t= he price of Sony=E2=80=99s PSVR2 (including the PS5 needed to use it). Anal= ysts expect fewer than 500K Apple headset shipments in year one.

    • Standout specs could i= nclude a live POV view-sharing feature called =E2=80=9Ccopresence,=E2=80=9D= 4K displays, and screens on the front of lenses that digitally display use= rs=E2=80=99 eyes (not creepy at all).

  • Keep in mind: Apple is rumored to have been devel= oping the device for seven years, and it faces pressure to release it befor= e its hardware becomes outdated.

    • Virtual reality bi= tes=E2=80=A6 There have been better moments to jump into the metav= erse as companies reroute their virtual-world investments into the new buzz= word: AI. Disney= shut down its metaverse strategy division this year, and = = Microsoft scaled back its team building AR goggles. Globally, = VR/AR device shipments fell 12% to fewer than 10M last year, while Sony=E2= =80=99s new headset badly missed its launch-window sales target of 2M units= . Use of the tech has been mostly limited to gaming. And consumers have yet= to embrace face gadgets (flops include Google G= lass, Snap Spectacles).

    THE TAKEAWAY

    <= div style=3D"font-family: 'General Grotesque Bold', Arial; font-weight: 700= ; letter-spacing: 0.03em; text-transform: uppercase; color: #000000; paddin= g: 6px 19px; border-radius: 30px; border: 0; background-color:#62E5DA; disp= lay: inline-block;">Zoom Out
    <= /table>

    Stories we= =E2=80=99re watching

    Not dryer-shrunk jeans=E2=80=A6 =E2=80=9CRetail shrink=E2=80=9D (the loss of inventory) is a growing problem in the U= S, and retailers are blaming rising theft. Target recently= said that organized retail crime would lead to $500M more in losses this y= ear. Dollar Tree, Home Depot, T.J= . Maxx, and others have cited shrink and theft as a hit to profits= . FYI: shrink cost retailers $95B in 2021. In December, Walmart said rising theft could even lead to store closures. Now retailers ar= e bulking up precautions (think: more items behind glass).

    Br= ands get =E2=80=9CBud Lighted=E2=80=9D... This Pride Month is off = to a tumultuous start for several companies. Last month Bud Light faced bac= klash after transgender influencer Dylan Mulvaney posted about beer that th= e AB InBev-owned brand had sent her. Bud sales fell by as = much as 40% in some Southern markets. Target and K= ohl=E2=80=99s have been boycotted because of their Pride merch, an= d Target pulled some products over threats to employees. Lots of companies = still plan to move forward with their Pride plans, including Coors Light=E2= =80=99s Denver Pride Parade.

    <= /tr>
    <= /tbody>
    <= div style=3D"font-family: 'General Grotesque Bold', Arial; font-weight: 700= ; letter-spacing: 0.03em; text-transform: uppercase; color: #000000; paddin= g: 6px 19px; border-radius: 30px; border: 0; background-color:#62E5DA; disp= lay: inline-block;">Events
    <= /table>

    Coming up th= is week

    The soup=E2=80=99s hot=E2=80=A6 = Campbell's is set to report Wednesday, and the 153-year-old ca= nned-soup icon's been on a roll since shoppers started snapping up pand= emic pantry staples. Before Covid, its sales were falling. In Q2, its sales= grew 12% as consumers kept stocking its snacks like Goldfish and Milanos, = despite price hikes (FYI: half of US consumers now eat 3+ snacks/day). But = as Big Foodies like Campbell, Pepsi, and Kraft get accused of profit-padding prices, snackers could scale back on br= and names.

    Never an outfit repeater=E2=80=A6 Rent the Runway could drop =E2=80=99Gram-worthy results this week= as shoppers pay to rent their fits and keep things fresh. In April, RTR po= sted record revenue and subscribers after adding an extra item to its month= ly subscription. Meanwhile, Urban Outfitters' Nuuly re= ntal service more than doubled sales last year, and Urban thinks it could b= ecome a $1B biz. While RTR has yet to turn a profit, rentals are trending u= p: the value of the digi-fashion rental market is expected to 2X to nearly = $3B by 2030.

    <= div style=3D"font-family: 'General Grotesque Bold', Arial; font-weight: 700= ; letter-spacing: 0.03em; text-transform: uppercase; color: #000000; paddin= g: 6px 19px; border-radius: 30px; border: 0; background-color:#62E5DA; disp= lay: inline-block;">ICYMI
    <= /table>

    Last week= 9;s highlights

     
    What else we're Snackin'

    • = Check: Low-income workers have made historic earnings gains during the pandemic= , narrowing the wage gap between lower and higher earners. A labor shortage= sparked the trend, but it could soon slow.

    • Icy: The hott= est new home amenity: cold plunges that can cost tens of thousands of dolla= rs. Freezing dipping pools are part of a wellness trend as spa amenities be= come must-haves in bougie backyards.

    • Precious: Once a paper mill, Albemarle became the most valuable lithium producer after investing $6B nearly a d= ecade ago on a hunch that the metal used in EV batteries would pop off. TL;= DR: it was right.

    =
    Want your Snacks daily?
    The Daily Newsletter
    Get fresh takes on financial news every week day. Try a sample:
    <= /td>

    =F0=9F=9A=B8 Amazon=E2=80=99s privacy fines =E2=80=A2 Jun = 2, 2023
    =F0=9F=87=A8=F0=9F=87=B3 Elon=E2=80=99s = China trip =E2=80=A2 Jun 1, 2023
    =F0=9F=8C=B3 Sustainability side-eye =E2=80=A2 May 31, 2023

    Subscribe to the Daily
    <= /table>
    = Snack Fact Of the Day
    Nvidia=E2=80=99s trillion-doll= ar biz started as an idea at a Denny=E2=80=99s

    <= /table>
    This Week

    • Monday: = Apple WWDC keynote. Earnings expected from GitLab and Sprinklr

    • Tuesday: Earnings expected from Cracker Barrel, = Dave & Buster's, J.M. Smucker, an= d Stitch Fix

    • Wednesday: Earnings expected from Campbell Soup, GameStop, and Rent the Runway

    • Thursday: Jobl= ess claims. Earnings expected from DocuSign, Plane= t Labs, Signet Jewelers, Toro, a= nd Vail Resorts

    • Friday: Earnings expected from Nio

    Authors of this Snacks own shares of: Apple, Delta, Disney, G= oogle, Kraft Foods, Nvidia, Planet Labs, Tesla, Walmart, Snap, and Microsof= t

    =
    <= /td>
    Sherwood Media, LLC produces fresh and unique perspectives on topical fina= ncial news and is a fully owned subsidiary of Robinhood Markets, Inc., and = any views expressed here do not necessarily reflect the views of any other = Robinhood affiliate... See more
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