Business
Keep it simple: A popular kids' snack has earned its crust

Keep it simple: A popular kids' snack has earned its crust

9/5/23 7:00PM

Sweet success

‍**Uncrustables** are no longer just lunch box staples for kids. The frozen crustless sandwiches are increasingly being packed into sports bags and even briefcases across the states, as adults increasingly rely on them for sustenance in the age of ultra-convenience.

JM Smucker, the company behind Uncrustables and other favorites like Folgers Coffee and Jif peanut butter, is working hard to keep up with demand. Sales for the snack rose 11% in the latest quarter, and the company is continually investing in its production facilities to keep churning out the 4 million needed each day to sate America’s growing appetite.

Uncrushable

The school lunch specials started life in 1995 as Incredible Uncrustables, after two friends decided to mass-produce their kids’ favorite sandwiches: PB&Js without the crusts. The pair managed to secure a controversial — and since-rescinded — patent on their “sealed crustless sandwiches”, going on to sell the brand to Smuckers for ~$1 million in 1999.

From ad-hoc media reports, we’ve pieced together the sales of Uncrustables, and it's a chart that wouldn’t look out of place from a hot tech start-up. With a widening range of crustless offerings, such as chocolate hazelnut spread and taco bites, JM Smucker shipped some $685 million of the snack in FY2023, and sales are expected to reach $800 million this fiscal year. Sometimes the best ideas are the simplest.

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Amazon is testing adding GM electric vans to its EV delivery fleet dominated by Rivian

Rivian may have some competition in its electric delivery van division: Bloomberg reports that Amazon is testing a small number of GM’s BrightDrop vans for its fleet.

According to Amazon, the test currently only includes a dozen of the vehicles. Amazon’s fleet also contains EVs from Ford, Stellantis, and Mercedes-Benz.

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

The test comes as Rivian struggles through tariffs and the end of EV tax credits. Earlier this year, it lowered its annual delivery outlook by about 13%. As of June, Amazon said it has more than 25,000 Rivian vans across the US. Earlier this week, Rivian CEO RJ Scaringe said the company is still on track to deliver 100,000 vans to Amazon by 2030 and is “thinking about what comes beyond” that initial target.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

GM debuted BrightDrop in 2021, but the vehicles have struggled to sell and piled up on GM lots due to high prices and steep competition. GM began offering up to 40% rebates on the vehicles this year.

The test comes as Rivian struggles through tariffs and the end of EV tax credits. Earlier this year, it lowered its annual delivery outlook by about 13%. As of June, Amazon said it has more than 25,000 Rivian vans across the US. Earlier this week, Rivian CEO RJ Scaringe said the company is still on track to deliver 100,000 vans to Amazon by 2030 and is “thinking about what comes beyond” that initial target.

GM has sold 1,592 BrightDrop vans through the first half of the year, more than the full-year total it sold in 2024.

business

Paramount Skydance reportedly preparing an Ellison-backed Warner Bros. Discovery takeover bid, sending shares soaring

Paramount Skydance is preparing a majority cash bid for Warner Bros. Discovery, The Wall Street Journal reported, sending shares of both companies surging. The Journal’s sources say the deal is backed by the Ellison family, led by David Ellison.

WBD shares were up 30% on the report, while Paramount Skydance jumped 8%.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

The offer would cover WBD’s entire business — cable networks, movie studios, the whole enchilada. That comes after WBD announced plans last year to split into two divisions: one for streaming and studios, the other for its traditional cable and TV assets. A recent Wells Fargo note gave WBD a price target hike, primarily because the analysts viewed it as a prime takeover candidate.

If the deal goes through, it would bring together HBO, CNN, DC Studios, and Warner Bros.’ film library with Paramount+, Nickelodeon, and MTV, all under one umbrella.

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