Canned peas FTW… Budgets are tight, but America still has to eat. Kroger had a record year in 2021 and sales jumped again last quarter as buyers kept stocking up on fresh veggies despite hot prices. Kroger’s online sales have doubled in the past two years, and its shares have risen 7% this year while the S&P 500 has slid 18%. But soaring grocery prices have made it seem (relatively) less inexpensive for some to dine out, which could push some shoppers to ditch grocery stores for fast-food joints. We’ll see if inflation is biting Kroger’s profits when it reports Friday.
Lots of balls in the air… It’s a big week for pro sports. The NFL season kicks off Thursday and the US Open finishes Sunday. But today a lot of athletes earn more off the field: Serena Williams, who just played her final match, has earned $95M in career prizes — and $350M from sponsors. Billionaire LeBron James has earned twice as much from investments and endorsements as he has from his NBA salary. As the celeb-prenuer trend intensifies, Serena, LeBron, and NFL stars like Aaron Rodgers have also launched their own VC funds.