us
Pepsi reported a 5% drop in sales, Nestle had an 8% drop for Hot Pockets, frozen pizzas and Stouffer frozen dinners. Kraft Mac n Cheese, Pringles, Pop Tarts are all sagging.Starbucks is losing the low end altogether, with its stock plunging 14% after turning in lower revenue, transactions, and ticket-size, while losing fully 1.5 million loyalty-reward users.The CEO blamed "macro headwinds." Meaning lower-end consumers squeezed by inflation and weak wage growth.
them
More broadly, the luxury ETF LUXX, which includes brands like Hennessy, Hermes, and Ferrari, is actually up 20% in the past 6 months as the wealthy gobble up their Balenciaga and let the poors eat TJ Maxx.In fact, just a few months ago Lamborghini announced they'd sold 10,000 cars for the first time in history. A third of them in the US, and mostly the Urus SUV that goes for $237,000 -- 269 for the performance model featuring carbon ceramic brakes with subtle off-white coloring and a watermark.Bentley also reported record sales, with Aston Martin and Rolls Royce close behind. One analyst summed it up as a "K-shaped economy,” with very different realities for those at the top and those at the bottom, reflected in strong credit card spending at the top paired with rising delinquincy rates for the rest.