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This Week in Commerce: Amazon and Hershey earnings, Fed decision
Welcome to a new week. It’s an active week for the consumer economy. The Fed will issue its latest decision on interest rates, while Amazon and key consumer goods brands such as Clorox offer insights in earnings reports. Check out what’s ahead:
Manifest 2023: The community of logistics and supply chain professionals gather in Las Vegas to hear from more than 250 speakers. The event features more than 1,000 startups, and attendees from more than 50 countries. Jan. 31-Feb. 2
Consumer Confidence: The Conference Board releases monthly data on consumer sentiment and expectations in areas such as purchasing and inflation. Jan. 31, 10 a.m.
FOMC: The Federal Reserve releases its latest decision on whether and by how much to hike benchmark interest rates. The Fed is on an aggressive campaign to bring down inflation. Feb. 1, 2 p.m.
Jobs Report: The U.S. Labor Department releases monthly data on the number of new jobs in the economy, and the unemployment rate. Feb. 3, 8:30 a.m.
Monday, Jan. 30: Pitney Bowes
Tues., Jan. 31: Snap
Wed., Feb. 1: Meta
Thurs., Feb. 2: Amazon, Hershey, Clorox, Columbia Sportswear, Lightspeed Commerce, Skechers, HanesBrands
Trending in Economy
Kellogg's takes inspiration from employees, Latin in snacks rebrand
Kellanova is now the parent of Pringles, Cheez-Its and Pop Tarts.
Kellogg Company's snacks business is now Kellanova. Here are a few finer points about how the forthcoming parent of Cheez-Its and and Pop-Tarts arrived at the new name.
Last year, Kellogg announced plans to split its business into multiple companies.
Now, one company will have North American cereals like Frosted Flakes, Froot Loops and Rice Krispies under the WK Kellogg Co banner.
Another will have snacks like Pringles, North American frozen foods such as Eggo and plant-based brands like MorningStar Farms.
This week, Kellogg announced that the snacks business has a new name: Kellanova.
Here are the strategies that Kellogg employed that led to this name:
- Ask the employees: Kellogg Company asked employees for input on the name, and received 4,000 suggestions from 1,000 employees.
- Listen to the results: 20% of the employees suggested a variation of the W.K. Kellogg name, while other employees suggested that the name include "nova."
- Go to the root: "Nova" comes from the Latin word for new. CEO Steve Cahillane said it "signals our ambition to continuously evolve as an innovative, next generation, global snacking powerhouse."
As The Wall Street Journal reports, this is just the latest new company name to take a Latin root in recent years, as Kellanova joins GE Vernova, Mondelez and Altria. It's also among a number of spinouts being completed by corporations, joining GSK spinoff Haleon, J&J's Kenvue and a forthcoming company that will spin out of 3M.
Even with a name that emphasizes moving forward, Kellanova is keeping one element that is familiar: The logo still has the iconic cursive K. It will even get the boldly simple stock ticker symbol "K" to go along with it.
Even the WK Kellogg Co is combining the past and future. The company is seeking to position itself as a "117-year-old startup," even as it draws on the name and signature of the Kellogg's founder. There's even a more subtle hint about an unwritten chapter: The "Co" doesn't have a period.
To get to the future, you need to bring along a bit of the past.