The snowball effect... The cloud biz that helped Pizza Hut predict Super Bowl ’za orders is on fire: shares of Snowflake have doubled since its record-breaking 2020 IPO on huge demand for cloud storage, and 40% of Fortune 500 companies now use its software. But Snow shares have thawed 30% from highs on the wider tech selloff, plus competition from upstarts like DataBricks. Snow has yet to turn a profit, but expects annual sales to 18X by 2029. Amazon’s AWS cloud sales soared last quarter. We’ll see if Snowflake follows suit when it reports Wednesday.
One (brand) fits all... Victoria's Secret has been facing an identity crisis, from C-Suite harassment allegations to changing views of what "sexy" means. Last week the lingerie brand debuted its first-ever model with Down syndrome, part of a series of inclusive campaigns aimed at revamping its image. It seems to be making a difference: last quarter its in-store sales jumped 22%, to $920M, but it warned that supply delays would cost it $100M. We'll see if VS’s inclusivity push can restore sales to pre-pandemic highs when it reports Thursday.