Business
Keep it simple: A popular kids' snack has earned its crust

Keep it simple: A popular kids' snack has earned its crust

Sweet success

‍**Uncrustables** are no longer just lunch box staples for kids. The frozen crustless sandwiches are increasingly being packed into sports bags and even briefcases across the states, as adults increasingly rely on them for sustenance in the age of ultra-convenience.

JM Smucker, the company behind Uncrustables and other favorites like Folgers Coffee and Jif peanut butter, is working hard to keep up with demand. Sales for the snack rose 11% in the latest quarter, and the company is continually investing in its production facilities to keep churning out the 4 million needed each day to sate America’s growing appetite.

Uncrushable

The school lunch specials started life in 1995 as Incredible Uncrustables, after two friends decided to mass-produce their kids’ favorite sandwiches: PB&Js without the crusts. The pair managed to secure a controversial — and since-rescinded — patent on their “sealed crustless sandwiches”, going on to sell the brand to Smuckers for ~$1 million in 1999.

From ad-hoc media reports, we’ve pieced together the sales of Uncrustables, and it's a chart that wouldn’t look out of place from a hot tech start-up. With a widening range of crustless offerings, such as chocolate hazelnut spread and taco bites, JM Smucker shipped some $685 million of the snack in FY2023, and sales are expected to reach $800 million this fiscal year. Sometimes the best ideas are the simplest.

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Paramount sues Warner Bros. for more info on its deal with Netflix, says it plans to nominate new directors

It’s a fresh week and that means a fresh bit of escalation in the ongoing Warner Bros. Discovery merger drama.

At an upcoming meeting, Paramount Skydance plans to “nominate a slate of [WBD] directors who, in accordance with their fiduciary duties, will... enter into a transaction with Paramount,” CEO David Ellison wrote in a letter to WBD shareholders disclosed on Monday.

Ellison also said that Paramount sued WBD in Delaware court in an effort to force the board to disclose “basic information” that will allow shareholders to make an informed decision between Paramount’s offer and one from Netflix. WBD shares dipped about 2% on Monday morning.

The latest update follows Paramount’s move last week to reaffirm — but not raise — its $30-per-share offer for WBD. Some saw that decision as Paramount effectively throwing in the towel on its merger hopes, given that the same deal has been rejected twice by the WBD board and winning over shareholders directly is a difficult process. Monday’s disclosure appears to signal that whether it loses or not, Paramount isn’t going to make Netflix’s acquisition easy.

business

Ford to bring eyes-off driving to its new EV platform by 2028

Ford is wading into the autonomous race against rivals like Tesla and GM.

On Wednesday evening, the Detroit automaker said it plans to introduce “Level 3” eyes-off systems to vehicles being built on its new production platform in Louisville by 2028. The first vehicle planned for the platform is a $30,000 midsize EV truck, planned for 2027.

In an interview with Reuters, Ford Chief EV and Design Officer Doug Field said the tech would not come at the $30,000 price point and would cost extra. Field said the company is still weighing just how much extra, and whether the system should be sold via a subscription model.

According to Ford, the eyes-off and hands-off tech will utilize lidar. Ford shares ticked up slightly in premarket trading on Thursday.

In August, Reuters reported that Ford rival Stellantis had shelved its Level 3 program due to high costs.

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