business

Tom Jones & David Crowther8/14/24

The $20 billion boss

After its best ever day as a public company, Starbucks added the equivalent value of one of America's most read newspapers (NYT $9B), the biggest name in jeans (Levi's $7B), the nation's largest cinema chain (AMC $2B), with about $3B left in change... all because it announced a burrito chain expert as its new CEO.

Comparative chart of Starbucks' market cap. growth — Sherwood News

Investors seem delighted with the news that Brian Niccol, current CEO at Chipotle and a former exec at Taco Bell and Pizza Hut, will take the reins in September, replacing Laxman Narasimhan who served as CEO for ~16 months.

The 24.5% rise in SBUX's share price equated to the coffee chain’s market cap. soaring to just shy of $109 billion at the end of yesterday, as people wait to see if "Chipotle's redeemer" has the Schultzian credentials. But, after such a positive coronation, the new SBUX boss has their work cut out, with the company facing pressure from activist investors, a consumer base that’s getting fed up with price hikes, and a China business that has to run just to stay still.

Comparative chart of Starbucks' market cap. growth — Sherwood News

Investors seem delighted with the news that Brian Niccol, current CEO at Chipotle and a former exec at Taco Bell and Pizza Hut, will take the reins in September, replacing Laxman Narasimhan who served as CEO for ~16 months.

The 24.5% rise in SBUX's share price equated to the coffee chain’s market cap. soaring to just shy of $109 billion at the end of yesterday, as people wait to see if "Chipotle's redeemer" has the Schultzian credentials. But, after such a positive coronation, the new SBUX boss has their work cut out, with the company facing pressure from activist investors, a consumer base that’s getting fed up with price hikes, and a China business that has to run just to stay still.

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Apple is turning 50 today and it doesn’t look a thing like its younger self

From Macs to iPods, iPhones, and now services, here’s how Apple’s business has looked every 10 years.

Birthday Green apple

The entrance of Allbirds seen from Hayes St. in San Francisco, Calif.

Allbirds, the once buzzy multibillion-dollar sneaker startup, is selling up for $39 million

That’s less than 1% of its peak market cap about four years ago.

Tom Jones3/31/26

business

Max Knoblauch3/30/26

JetBlue is raising its bag fees as fuel costs squeeze airlines

JetBlue will reportedly hike its bag fees, as the cost of jet fuel continues to climb amid the war in Iran. It’s the latest example of carriers finding ways to push rising costs onto travelers.

Last week, United Airlines CEO Scott Kirby said that if fuel prices remain elevated, fares would need to rise another 20% for his airline to break even this year.

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.

JetBlue Airways raises bag fees as fuel prices soar

JetBlue Airways raises bag fees as fuel prices soar

As CNBC reported, when one airline raises fees, others tend to follow.

Earlier this month, JetBlue hiked its first-quarter outlook for operating revenue per seat mile to between 5% and 7%, saying that strong Q1 demand helped “partially offset additional expenses realized from operational disruptions and rising fuel costs.” Now, the carrier appears to be making moves to further boost revenue to offset those costs.

Earlier on Monday, JetBlue rival Alaska Air lowered its Q1 profit forecast. The refining margins for the carrier’s cheapest fuel option — sourced from Singapore and representing about 20% of Alaska’s overall supply — have spiked 400% since February.

JetBlue did not immediately respond to a request for comment.

flavor of the month

Americans won’t tolerate bland food anymore — and it’s turned McCormick into a ~$7 billion-a-year spice and sauce giant

Now, McCormick is eyeing Unilever’s food business.

Bottles of Frank's RedHot Xtra Hot and Sweet Chili on a

Crocs’ prince charming

ByChrisStokel-Walker

FriMar 272026

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