Since the start of the pandemic, people have found alternate ways to stay active and fit even as many gyms implement restrictions or completely shut down. Running has emerged as one of the more popular hobbies people have taken up this year, according to Jim Weber, CEO of Brooks Running.
"We've seen, I think, 1.6 million new runners this year into our brand alone; so, there's no question that even with our sports shut down, we think more people are running than ever before," Weber told Cheddar.
The brand saw 49 percent global growth in Q3, a mark Weber attributes to new runners and its status as a subsidiary of Warren Buffett's Berkshire Hathaway.
The likelihood that the trend continues beyond the pandemic, according to the CEO, is promising. Weber pointed to the Great Recession of 2008 as a measuring stick after people picked up running as part of their daily exercise regimens and appeared to stick with it.
"So, we think this is actually the beginning of a new running boom. Next year, hopefully, when our sport opens back up from 5Ks to the Olympics and marathons and group runs, we think that's going to be a turbocharger to the growth that we're seeing now," he said.
While the broader retail industry took a major blow this year, Brooks only faced a small hiccup at the start of the pandemic and "saw signals starting in April that people were going out the door and running," Weber said. Though major events were put on hold, people were likely running to take advantage of the health perks it offers, he suggested.
"Now, I think what's keeping people out there is literally the mental benefits. We all know the physical benefits and the like but taking a part of the day and getting outdoors, getting some fresh air, and moving is just such a key part in staying healthy in this environment that we're in right now," he said.
Nestlé has dismissed its CEO Laurent Freixe after an investigation into an undisclosed relationship with a direct subordinate. The company announced on Monday that the dismissal was effective immediately. An investigation found that Freixe violated Nestlé’s code of conduct. He had been CEO for a year. Philipp Navratil, a longtime Nestlé executive, will replace him. Chairman Paul Bulcke stated that the decision was necessary to uphold the company’s values and governance. Navratil began his career with Nestlé in 2001 and has held various roles, including CEO of Nestlé's Nespresso division since 2024.
Kraft Heinz is splitting into two companies a decade after they joined in a massive merger that created one of the biggest food companies on the planet. One of the companies will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands like Oscar Mayer, Kraft Singles and Lunchables. When the company formed in 2015 it wanted to capitalize on its massive scale, but shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz's net revenue has fallen every year since 2020.
About 780,000 pressure washers sold at retailers like Home Depot are being recalled across the U.S. and Canada, due to a projectile hazard that has resulted in fractures and other injuries among some consumers.
