Utz Brands doubles down on digital ads to grow snack sales, retain customers
Utz Brands CEO Dylan Lissette told CNBC Friday that the company is increasing its marketing spend on digital advertising to reach new customers and grow snack sales. "What we love about [digital ads] is the fact that you really are able to turn on a dime ... and pursue what works," he said. "If some sort of an angle of attack on reaching our customers for one brand or another brand works, they're able to very quickly lean in behind it." For its 2020 fiscal year, ended Jan. 3, Utz spent about $11.1 million on consumer marketing and advertising, according to its annual report. Lissette did not say how much would be committed to marketing and ad expenses in the current fiscal year.cnbc.com
Peloton CEO John Foley promises customers more clarity on wait times for delayed orders
"We are determined to do what it takes to reduce our delivery times and to get certainty to customers on the delivery dates that we offer," Chief Executive John Foley said during an earnings call Thursday. Some customers have reported having their deliveries delayed, a number of times, without being given a clear, updated at-home delivery window. Peloton on Thursday reported fiscal second-quarter sales growth of 128%, marking its first billion-dollar quarter. In the wake of the higher sales, Peloton said it now expects full-year revenue to top $4 billion, up from prior forecast of more than $3.9 billion. Peloton shares were falling more than 8% in extended trading Thursday, having climbed more than 365% over the past 12 months.cnbc.com
Robinhood co-CEO says young traders see market downturns as buying opportunities for the long term
The young customers of Robinhood are actually smart, long-term oriented investors who recognized that the market sell-off in March was a buying opportunity, according to the zero commission pioneer's co-founder. Robinhood saw a record 3 million new customers in the first four months of 2020 when the coronavirus pandemic roiled markets and embroiled the economy in a recession. The coronavirus market downturn spurred young people — in some cases, for the first time in their lives — to get started with investing. Robinhood's inflow of new clients showed that young and inexperienced investors saw the market rout in March as an entry point into investing, especially with many stuck at home during the nationwide lockdown. He also said the zero commission model now adopted by the whole industry played a part.cnbc.com
CTA to offer PPE vending machines at some train stations
“We understand the need for our customers to have a safe experience during their commutes,” CTA President Dorval R. Carter Jr. said in a statement. “The addition of these new vending machines is a reflection of our unwavering commitment to seek out tools and resources to help reassure our customers that we are doing everything we can to keep customers healthy during this ongoing pandemic.”chicagotribune.com
Winn-Dixies mask requirement is now in effect
Starting Monday, customers heading to Winn-Dixie will be required to wear a face covering if heading into a store. The grocery chain joins the list of big name retailers that are requiring customers to wear masks. LIST: Major retailers who require customers wear masks inside their storesAldi and Staples are two other retailers who implemented their mask policies Monday. According to a report by CNN Business, CVS, Home Depot, Lowes, Walgreens, Walmart and others wont prohibit customers who refuse to wear a mask from shopping. Southeastern Grocers Inc., which owns Winn Dixie, had initially rejected a mask mandate, saying it did not want to put its workers in the position of having to ban customers.
Walmart will start requiring all customers to wear masks
JACKSONVILLE, Fla. – Walmart will soon require all customers to wear masks. The mask requirement will go into effect starting next week, according to CNN Business. The move comes after other businesses made the mandatory face mask requirement, such as Starbucks and Best Buy. “To help bring consistency across stores and clubs, we will require all shoppers to wear a face covering starting Monday, July 20. Walmart is currently selling face masks on its website.