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NOTABLE QUOTABLES

‘Supply surety;’ Domino’s worries; the aging truck fleet; and big brands benefit from resets, discussed by CEOs with securities analysts in October. 

I think the two most common words I’ve heard from (retailer) customers in the last year-plus is ‘supply surety.’ That is the priority. Making sure that we can continue to get our service levels moving in the right direction so that they’ve got the products in stock. They don’t want to go through out of stock. Especially now as we’re about to enter the holidays, that’s a particularly sensitive period… We’ve become focused on a high ROI focus on promotion and we’re probably at record lows right now. At some point, that’ll come up modestly, but I’m not anticipating any kind of material change.” — Sean Connolly, Conagra president & CEO, Oct. 6.

 

“We believe that inflation will impact delivery more than carryout, due to the added expenses of fees and tips in that channel. Our research shows that a relatively higher delivery cost might lead some customers to prepare meals at home. This could be exacerbated as consumer spending becomes more constrained around the holiday.” — Russell Weiner, CEO, Domino’s Pizza, Oct. 13. 

 

“The used (truck) equipment market went from all-time high to very difficult to find anybody interested. I can assure you that’s not because everybody’s average age of a truck is so young… The need is real and acute for this industry (which) should be buying or upgrading eight- or nine-year-old equipment to four- and five-year-old equipment at a record pace… for what should have been built over the last two and a half years.” — David Jackson, president & CEO, Knight-Swift Transportation Holdings, Oct. 19. 

Retailers know bigger brands drive foot traffic in their stores, so they’re focused on getting bigger brands right from a distribution standpoint and filling around them, Joe Scalzo, president & CEO of The Simply Good Foods Company, said on Oct. 21. “We just saw Walmart reset in August and the bigger brands benefited from that reset.” 

Comments edited for length. 

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