🛑 What Is ‘Latino Coating’?

Diversity in marketing is crucial in today’s multicultural landscape. Consumers are 38% more likely to trust brands that effectively embrace diversity in their advertising, but that approach hasn’t sat well with everyone – including the demographics it's meant to spotlight. 

See: “Latino coating,” the term the Hispanic Marketing Council is using for a superficial marketing approach that layers Latino elements onto products, campaigns, media or entertainment for the appearance of diversity. The group launched a new campaign – #StopLatinoCoating – this year to address the issue as it pertains to its constituents. 

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Grocery giant Kroger topped Wall Street Q1 sales estimates, today reporting quarterly net sales of $45.3 billion, a 0.6% year-over-year increase, driven by steady grocery spending. Here’s the top-level view:

• In the quarter ended May 25, operating profit was $1.3 million, which translated to earnings per share (EPS) of $1.29 compared to $1.32 the previous year.
• Gross margin was 22.4% of sales for the first quarter.
• Kroger’s net total debt to adjusted EBITDA ratio is 1.25 versus 1.34 a year ago. The company’s net total debt to EBITDA adjusted EBITDA ratio target range is 2.30 to 2.50. 

💭 “Kroger is off to a solid start in 2024 led by better-than-expected performance of our grocery business [...] the long-term investments we have made to strengthen and diversify our model enables us to manage economic cycles and gives us the confidence to deliver on our full-year outlook,” said chairman and CEO Rodney McMullen in a prepared statement. 

Keep an eye out for the full earnings recap on Nosh later today.

What did the CPG Week team do, see, and sample last week at BevNET Live? Senior reporters Brad Avery and Lukas Southard talk about their favorite sips and unique dining experiences while Nosh managing editor Monica Watrous shares highlights from a shopping trip to the Big Apple’s trendiest grocery stores. It's safe to say the team took it all in at the summer conference.

💧 Then, the group gets to the news, discussing the implications of the proposed merger of water giants BlueTriton and Primo and how it will not only create the largest bottled water conglomerate in the country but also impact politics and policy through its massive scale.

🍜 Later in the show, the podcasters dig into Omsom’s acquisition by DayDayCook and what it means for Asian CPG food brands.

Listen to the full episode on Nosh.

Like what you are listening to? Please don’t hesitate to rate our show and leave a review on your podcast platform of choice.

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