(Brandon Bell/Getty Images) |
Not a shirtless model in sight |
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Adding to the list of unlikely companies trying to incorporate AI: Bath & Body Works. The retailer known for scented lotions and body sprays plans to launch a generative-AI fragrance finder. It's really trying to make ChatGPerfume happen. The Dow inched up yesterday for its 25th record close of the year. Though most stocks in the S&P 500 gained, the index got dragged down by Nvidia's 6% loss. P.S. US markets are closed on Monday for Labor Day, so we'll be back in your inbox on Tuesday. 🎶 It started off with a quiz: Open up your eager eyes and try to get a high score on our Snacks Seven quiz. Here's the first q: |
- Mattel and HMD just rolled out a $130 hot-pink Barbie-themed _______. (Check your answer.)
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Fierce results... Abercrombie & Fitch's denim may be distressed but its earnings are not. The millennial mall staple blew past Q2 expectations, with sales up 21% to $1.1B — its second straight billion-dollar quarter. And A&F's profit more than doubled from last year. Its teen-leaning Hollister line also enjoyed double-digit sales growth as shoppers splurged on summer dresses and back-to-school jeans. A&F raised its annual sales outlook, even as it navigates an "increasingly uncertain environment." |
- Not so Fitch: A&F shares fell 15% on Wednesday after the retailer said it faced higher costs and cooling margin growth. But the stock's still up nearly 60% this year.
- Restitch: Rival American Eagle yesterday reported record Q2 revenue, partly thanks to growth in its loungewear sub-brand Aerie. Gap topped estimates and raised its annual profit forecast after strong sales for Old Navy, its biggest brand.
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Y2K comeback… OG teen retailers have stepped up their game to attract consumers of all ages. After years of focusing on tight jeans, oversized hoodies, and graphic tees, brands are revamping their wardrobe to cater to more style needs (like: office wear, wedding-guest fits). Abercrombie said its wedding shop collection "exceeded expectations" since its launch in March. Last quarter, it added men's suits to the mix. American Eagle has long been a hit with teen girls, but has stretched its offerings to include a men's activewear line and an Aerie maternity collection. |
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Changing threads can get you ahead… Y2K brands aren't just after Gen Z; they're upgrading their style to win back the (now grown-up) millennials who loved them first. By rolling out fresh fits that appeal to shoppers at every stage of life, clothing retailers can capture more wallet share. It seems to be working: in July of last year, nearly half of Abercrombie's shoppers were between 25 and 34 — up from less than a fifth in 2017. |
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Beyond Nasdaq…Monogram's new investment potential |
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Beyond Nasdaq…Monogram's new investment potential |
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Smooth recovery… from the blue screen of death. CrowdStrike appears to have shrugged off the massive global outage it caused last month. In its first quarter reporting earnings since the debacle — when blue screens took over 8.5M devices — CrowdStrike said its revenue rose over 30% annually. It shaved its annual guidance but said it was unrelated to its big blunder. CrowdStrike shares have gained ~25% from their lowest point post-outage, though they haven't fully recovered. |
- Turbulence: Lots of industries were affected by CrowdStrike's faulty update, but airlines were likely the hardest hit (thousands of global flights were canceled). Delta's under federal investigation after it took nearly a week to get its biz back to cruising altitude.
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Uneven impact… CrowdStrike said it would dole out $60M in credits to customers affected by its global oopsy. But Delta alone said the incident had cost it $500M (and it's planning to sue). Travelers and CrowdStrike shareholders are also seeking damages. CrowdStrike says its liability is limited, while cyber-insurance companies could be on the hook for billions. But the damage may not be as bad as feared for CrowdStrike: |
- Uncrowded market: CrowdStrike's a top provider of "endpoint protection" software, and analysts say it's costly and time-consuming for corporate customers to switch. CrowdStrike said it's held onto 98% of customers since the outage.
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It's hard to make a giant fall… and the outage may amount to just a stumble for CrowdStrike, which serves ~30K companies, second in its niche only to Microsoft. Though analysts warn there could be more reputational fallout ahead, others say the incident was a blip. AT&T's shown that big players can recover fast: despite suffering yet another major data breach in May, its churn rate (aka people canceling) in the second quarter was its second lowest ever. |
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122% revenue growth and a 55% net profit margin. Almost as good as being named an All-Star in two different professional sports. Read more. |
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Your daily dose of regrowth. |
Zero fuss solution… Hims offers access to hair loss solutions that are flexible, personalized and trusted by thousands of men. Rapid results… Treatments leverage doctor-trusted ingredients and are prescribed by licensed medical providers to fit your individual needs. With ingredients like finasteride and minoxidil, Hims customers see regrowth in as little as 3-6 months.1 100% online, unlimited check-ins and no insurance required. Take the free hair quiz to get started.2 |
1 Based on separate individual studies of oral minoxidil and oral finasteride. 2 Hair Hybrids are compounded products and have not been approved by the FDA. The FDA does not verify the safety or effectiveness of compounded drugs. Restrictions apply, see website for full details. Prescription products require an online consultation with a healthcare provider who will determine if a prescription is appropriate. Restrictions apply. See website for full details and important safety information. |
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Your daily dose of regrowth. |
Zero fuss solution… Hims offers access to hair loss solutions that are flexible, personalized and trusted by thousands of men. Rapid results… Treatments leverage doctor-trusted ingredients and are prescribed by licensed medical providers to fit your individual needs. With ingredients like finasteride and minoxidil, Hims customers see regrowth in as little as 3-6 months.1 100% online, unlimited check-ins and no insurance required. Take the free hair quiz to get started.2 |
1 Based on separate individual studies of oral minoxidil and oral finasteride. 2 Hair Hybrids are compounded products and have not been approved by the FDA. The FDA does not verify the safety or effectiveness of compounded drugs. Restrictions apply, see website for full details. Prescription products require an online consultation with a healthcare provider who will determine if a prescription is appropriate. Restrictions apply. See website for full details and important safety information. |
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- Stretched: Legging legend Lululemon cut its annual guidance after its quarterly sales growth disappointed. Lulu's been dealing with hot competition from athleisure rivals like Alo and Vuori, plus Amazon dupes.
- Pennies: Dollar General shares plunged over 30% after America's biggest dollar-store chain slashed its annual sales outlook, saying that its core customers (many of whom make under $35K) are spending less.
- Lip-stuck: Sephora rival Ulta Beauty said its same-store sales dipped 1% last quarter, compared to 8% growth a year earlier. Ulta trimmed its guidance and has warned of cooling makeup and skincare demand.
- GeekSquad: Best Buy stock popped as much as 15% yesterday after the electronics retailer reported expectation-zapping profit growth and raised its earnings guidance, though same-store sales kept falling.
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Fill in the headline: Companies are talking about _______ less than before. (Answer here.) |
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- US PCE inflation data (the Fed's preferred measure of inflation) for July
- University of Michigan's consumer-sentiment index for August
- Earnings expected from JinkoSolar
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Authors of this Snacks own shares of: Amazon, Delta, Microsoft, Nvidia, and Ulta |
Advertiser's disclosures:
* A filing for FDA approval is no guarantee of an actual FDA approval. ** This is a paid advertisement for Monogram Technologies Series D Preferred Stock offering. A prospectus supplement and accompanying base prospectus have been filed with the SEC. Before making any investment, you are urged to read the prospectus supplement and accompanying base prospectus carefully for a more complete understanding of the issuer and the offering. The securities offered by Monogram are highly speculative. Investing in these securities involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Investors must understand that such investment could be illiquid for an indefinite period of time. There is no existing public trading market for the Series D Preferred Stock. Monogram does not intend to apply for listing of the Series D Preferred Stock or the common stock purchase warrants on a national securities exchange or quoted on an over the counter market. DealMaker Securities LLC, a registered broker-dealer, and member of FINRA | SIPC, located at 105 Maxess Road, Suite 124, Melville, NY 11747, is the Intermediary for this offering and is not an affiliate of or connected with the Issuer. Please check our background on FINRA's BrokerCheck. |
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Sherwood Media, LLC produces fresh and unique perspectives on topical financial 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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