Palm Beach, FL – December 13, 2022 – FinancialNewsMedia.com News Commentary – The consumer goods market not only survived the recent pandemic, but it came through stronger, and observers project it will be back to sustained growth in the years to come. Ira Kalish, chief global economist, Deloitte said: “The baseline outlook for 2022 is for relatively strong growth in consumer products, even amid continued supply chain stress and labor shortage, though both should gradually abate. During the pandemic, governments, businesses, and individuals undertook actions that set the stage for strong economic growth.” A report from Industry Research.biz projected that the global Fast Moving Consumer Goods (FMCG) market size was valued at USD 11951.95 million in 2021 and is expected to expand at a CAGR of 3.17% during the forecast period, reaching USD 14415.47 million by 2027. The Deloitte report added: “Bold moves made during last year’s uncertainty are paying off, as the year ahead for the consumer products industry looks to be one of strong economic growth. Yet, some challenges could stand in the way of continued progress. How can consumer packaged goods (CPG) companies outmaneuver of these obstacles? Explore Deloitte’s perspective and what 100 executives from apparel, household goods, personal care, and food & beverage companies think awaits them in the year ahead.” Active companies in the markets this week include Bruush Oral Care Inc. (NASDAQ: BRSH), Stitch Fix, Inc. (NASDAQ: SFIX), Walmart Inc. (NYSE: WMT), Amazon.com, Inc. company (NASDAQ: AMZN), Costco Wholesale Corporation (NASDAQ: COST).
The article continued: For the consumer products industry, the next 12 months will likely be one of strong financial performance. Like last year, driving greater revenue continues to be the top goal for 93% of executives in Deloitte’s 2022 consumer products industry outlook survey. The “no-regret moves” companies undertook amid 2021’s unpredictability are paying off and despite rising costs, at least half of companies surveyed expect their operating margins to increase. This coincides with an environment conducive to raising prices for end consumers. Consumer brands that aren’t open and transparent are the most at risk of losing meaningful trust with consumers, according to nine in ten executives surveyed. Becoming more transparent isn’t just a matter of changing a company’s overall approach or attitude toward openness. So, consumer product companies are putting their money where their mouth is. Six in ten companies are making moderate, if not significant, investments in 2022 to increase the level of transparency they provide to consumers and other stakeholders.”
Bruush Oral Care Inc. (NASDAQ: BRSH) BREAKING NEWS: Brüush Electric Toothbrush to be a Featured Item on Home Shopping Channel TSC – Bruush Oral Care Inc. (“Brüush” or the “Company”), a direct-to-consumer leader in the oral care category, announced today that it will be participating in a one-day sales campaign on the home shopping channel, Today’s Shopping Choice (“TSC”), on Friday December 16, 2022. This will be the Company’s second appearance on the home shopping channel, with their first appearance having taken place in September. TSC is Canada’s only nationally televised shop-from-home service, reaching into over 7 million households across the country and is actively watched by almost 1.5 million viewers weekly.
Through the campaign with TSC, Brüush hopes to reach a broader audience this holiday season and will showcase its most popular colors while on the air. Earlier this month, the Company launched two seasonal colors – Arctic Blue and Midnight Blue – which will be available on a limited-edition basis through the holiday period. The Brüush electric toothbrush will be featured on TSC during three segments on Friday, December 16, which can be viewed on the TSC website (https://tsc.ca) and will occur at 9.30am, 1.30pm and 5.30pm (Eastern Standard Time).
The campaign comes at an opportunistic time for Brüush given its recent announcement that it generated record sales in the month of November equating to 50% year-over-year growth and expects the strong momentum to continue in December. The Company also closed a $3.0 million private placement last week to provide additional working capital and growth capital to fund marketing, brand awareness and customer acquisition initiatives. CONTINUED… Read this full release and get more info for BRSH at: https://investors.bruush.com/
Additional recent developments in the markets include:
Stitch Fix, Inc. (NASDAQ: SFIX), the trusted online personal stylist, recently announced its financial results for the first quarter of fiscal year 2023 ended October 29, 2022.
Stitch Fix CEO Elizabeth Spaulding said, “This quarter we made meaningful progress on our transformation journey despite a difficult macro environment. Through diligent cost savings and efficiencies we beat our adjusted EBITDA expectations for Q1 and have improved our adjusted EBITDA guidance for FY23. By enhancing our client experience, rightsizing our cost structure, evolving our marketing and deepening our differentiators of fit, discovery, and human relationships, we are positioning ourselves well to achieve profitability in the near term and a return to growth in the future.”
Walmart Inc. (NYSE: WMT) recently announced its Third-quarter highlights which were:
Company delivered strong revenue growth globally, with strength in Walmart U.S., Sam’s Club U.S., Flipkart, and Walmex. Total revenue was $152.8 billion, up 8.7%, or 9.8% in constant currency.
Walmart U.S. comp sales grew 8.2% and 17.4% on a two-year stack. eCommerce growth was 16% and 24% on a two-year stack. Continued to gain market share in grocery.
Sam’s Club comp sales increased 10.0%, and 23.9% on a two-year stack. Membership income increased 8.0% with member count reaching an all-time high.
Walmart International net sales were $25.3 billion, an increase of $1.7 billion, or 7.1%, negatively affected by $1.5 billion from currency fluctuations. Segment operating income led by double-digit growth for Walmex.
At AWS Event, Amazon Web Services (AWS), an Amazon.com, Inc. company (NASDAQ: AMZN), recently announced that Yahoo has selected AWS as its preferred public cloud provider for its advertising technology business Yahoo Ad Tech. Building on its longtime relationship with AWS, Yahoo Ad Tech is migrating all of its advertising technology workloads—including its media-buying and supply-side platforms, analytics, and identity solutions and products—from its on-premises data centers to AWS. The migration is part of the business’s ongoing digital transformation strategy to reduce IT infrastructure costs, transform its advertising business operations, and develop more tailored and immersive solutions to help brands connect with their audiences.
Costco Wholesale Corporation (NASDAQ: COST) recently announced its operating results for the first quarter (twelve weeks) of fiscal 2023, ended November 20, 2022.
Net sales for the first quarter increased 8.1 percent, to $53.44 billion from $49.42 billion last year. Net income for the quarter was $1,364 million, $3.07 per diluted share, compared to $1,324 million, $2.98 per diluted share, last year. This year’s results included a charge of $93 million pre-tax, $0.15 per diluted share, primarily related to downsizing our charter shipping activities, and a tax benefit of $53 million, $0.12 per diluted share, related to stock-based compensation. Last year’s results included a write-off of certain information technology assets of $118 million pre-tax, $0.20 per diluted share, and a tax benefit of $91 million, $0.21 per diluted share, related to stock-based compensation.
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