Up in smoke… Folks are smoking less tobacco, but Big Tobacco’s far from getting stubbed out. Marlboro maker Philip Morris International, which reports Thursday, has leaned into smokeless-nicotine products like vapes and heated tobacco sticks to usher in a “smoke-free” future. Customers are buying it: smoke-free products now account for a third of the company’s sales. A recent boom in nicotine pouches like Zyn have boosted PM’s profit outlook. In its last reported quarter, the biz sold 105M+ Zyn tins — a 66% jump on the year.
Big Macs and burrito bowls… McDonald’s and Chipotle are expected to serve up hearty earnings this week. In October, the fast-food biggies saw double-digit revenue growth and topped estimates. Both have benefited from price hikes and their beefy mobile-order businesses, as fast-food spending stayed resilient despite #quesoflation. Proof: Chipotle’s looking to hire 19K new workers as it preps for its busiest time of year: “burrito season.”