Albertsons posts Q2 earnings beat.
ID sales +1.5% (2 year stacked: 15.3%); digital sales +5% (2 year stacked: +248%). They announced a strong quarterly dividend of 20% and raised FY2021 outlook. Gross profit margin decreased 28.6% (fuel, inflation, supply chain costs). Albertsons spoke to their transformation strategy and, specifically, called out modernizing their technical infrastructure and systems (ie. moving to Cloud).
Procter and Gamble posts Q1 earnings beat.
Net sales +5% ($20.3B), Organic sales +4%. Inflation is hitting P&G and, while price hikes have offset some cost, they haven’t offset it entirely. Proctor has risen their inflation forecast from $1.9B to $2.3B. The healthcare segment was the top-performing business unit (+7% organic sales) while beauty and baby, feminine care, family care units contributed the least (+2%).
Snap opens creative studio for branded AR.
Arcadia is Snap’s new division that’s partnering with clients in CPG (P&G Beauty) and beyond to move the needle on AR technological maturity. Dope. It’s still a young ecosystem, and Snap intends to build both platform-agnostic and native capabilities.
Ultrafast delivery firm Gorillas nabs nearly $1B in funding.
Despite not typically being a profitable business model, VC is still hot for opportunities in the space. Gorillas is building its brand, focused on “sustainable operations”, and will use the funds as investment in operations, technology, and marketing.
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