Costco’s absurd China debut, Smucker’s peanut butter problems, and the cigarette re-merger

The Best One Yet

Nick & Jack Studios

Business, News, Finance, Pop Culture, Business News, Tech

4.6 • 9.8K Ratings

🗓️ 28 August 2019

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

Costco just opened up its first physical store in China and the reaction was huge (the store had to close early). Smucker’s dropped 8% on word its peanut butter is facing price cut problems (and other nut-butters). And Altria and Philip Morris used to own the tobacco industry together, but now they may re-merge because nearly every trend is anti-cigarette.Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Transcript

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0:00.0	This is Nick, this is Jack, and this is Snacks daily.
0:04.6	It is Wednesday, August 28th, Jack, how we feel about this.
0:07.7	We are bringing the heat.
0:09.3	Prior to Labor Day weekend, it's Wednesday, it's almost the long weekend everybody.
0:13.2	It's Labor Day pre-pre-pre-eat, and it's perfect because this is the best Snacks daily
0:17.2	we've ever done.
0:18.2	It's so much better than yesterday, Jack.
0:19.8	What have we got?
0:21.3	First story about Costco.
0:22.7	This is the huge box American grocery store company.
0:26.0	It opened up in China for the first time.
0:28.2	The response at the first Chinese Costco was insane, and it's going to shift your understanding
0:33.3	about China.
0:34.3	We got a 12 pack of the story core theme here.
0:36.6	You got to shift the understanding from producer to consumer.
0:39.4	What's number two, Jack?
0:40.9	Second story is about Smuckers.
0:42.1	It showed its earnings report yesterday.
0:44.1	It's got a peanut butter and jelly problem, and this reveals an economic issue in America.
0:48.3	Jack, smoother crunchy, I don't even care.
0:50.2	We can't even get into that.
0:51.3	This may mean we redefine the term staple foods.
	...

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