The weather is breaking in parts of the U.S., and people are anxious to get outside and meet up. White Claw Hard Seltzer is hoping to capitalize as friends begin to mingle after a year of pandemic lockdowns.
The boozy beverage brand is introducing White Claw Surge, available in blood orange and cranberry flavors, which takes summer sipping to a new level with its 8 percent alcohol content, a 3 percent jump from existing products. John Shea, chief marketing officer at White Claw Hard Seltzer, said the brand was inspired by its consumer base to create the new line of beverages.
"We've got the biggest fanbase, extremely passionate. We don't have to look too far when we're looking for new inspiration on new products," Shea told Cheddar. "They're vocal about it and we've got kind of built-in consumer research just by following social media, so that's where we take our lead."
The brand is also rolling out a line of alcoholic iced teas that will be available in lemon, raspberry, peach, and mango. Those teas, however, will retain the typical 5 percent alcohol content.
With demand for hard seltzer on the rise in the U.S. Shea said the company has already taken steps to make sure there is enough product heading to store shelves by building two "breweries." He said the factories will help the brand remain the leader in the hard seltzer category.
"There's been a big wave into the hard seltzer market. Last year at this time we had about six competitors. Now there's about 170. White Claw's bigger than all of them combined. So our fans have really gotten behind the product and are looking for new innovation, and that's what we're bringing to them," he said.
Shea said the company plans to maintain its position at the top of the hard seltzer category by continuing to listen to its consumers and elevating its offerings with quality products.
"It really starts with the liquid, an amazing, refreshing liquid, and then for White Claw, it's just about pure uncomplicated fun. It's a simple product, light flavors, really refreshing," he noted.
A growing number of workers at major produce companies, processing plants, and grocery stores are calling out sick.
These virus-related absences are resulting in product shortages, leaving supermarket shelves far from full. Jesse Newman, agriculture reporter at The Wall Street Journal, joins Cheddar News to discuss.
There may be some light at the end of the tunnel for struggling retailer Kohl's. Shares soared more than 35 percent on Monday on reports that a second takeover could potentially be in the works - just days after a group backed by activist investment firm Starboard Value proposed buying the company. Private equity firm Sycamore Partners has allegedly reached out to Kohl's, offering to pay at least $65 per share in cash for the company - giving it a valuation of close to $9 billion. Joel Bines, Global Head of Retail at AlixPartners, joined Cheddar Movers to discuss the potential takeover as well as the state of retail in the U.S.
Big Apple workers who deliver for food apps like Doordash and Grubhub will now receive a number of legal protections provided through a package of new regulations that have started going into effect. These updated rules include more control over their deliveries, pay and tip transparency, a higher minimum pay rate, and access to restaurant bathrooms during the workday. New York City Comptroller Brad Lander joined Cheddar to elaborate on the regulations and how the platform holders reacted. "I have to say it's a mixed bag," he said. "Grubhub actually welcomed the legislation and said they recognize they need to do better by their deliveristas, but DoorDash, unfortunately, has actually been pushing back against the legislation."
Stocks closed mixed Wednesday after the Federal Reserve's announcement about potential rate hikes this year, beginning as soon as March. That would be the central bank's first rate hike since 2018, and Chair Jerome Powell also didn't rule out a potential rate hike at every meeting in order to combat inflation. RC Peck, CIO of Fearless Wealth, joined Closing Bell to discuss today's close, the Fed's announcement, Tesla's Q4 2021 earnings results, and more.
Stocks closed lower Tuesday, but off session lows amid continued volatility as investors await this week's Federal Reserve meeting, where the central bank is expected to introduce tighter monetary policy. Microsoft also reported second quarter fiscal 2022 earnings after the bell. The tech giant beat on both top and bottom lines, but shares fell after hours. David Stryzewski, CEO of the Sound Planning Group, joins Cheddar News' Closing Bell to discuss today's close, predictions for this week's Fed meeting, Microsoft's earnings report, and more.
Thomas Hoenig, Former CEO of Federal Reserve Bank of Kansas City and currently Distinguished Senior Fellow with the Mercatus Center, joined Cheddar News' Closing Bell, where he says the Fed's decision was no surprise, but believes the Fed is behind the curve on raising rates.
Business communication platform Slack, recently released its fifth wave of results from its global workplace survey from its Future Forum consortium, showing that the workforce has already moved to a split between working from home and going to the office. “We are now officially in the hybrid era of work,” Slack Future Forum VP Sheela Subramanian said when discussing the findings. "Hybrid is a work model where people can come into the office as well as work remotely, and what we're seeing is that the majority of knowledge workers are now in this arrangement — and that number is set to grow."
Legal cannabis businesses are having a hard time surviving in California with the high cost of doing business and a still-thriving illicit market. In response, nonprofit Supernova Women, founded by women of color, is advocating on behalf of Black and brown shareholders in the cannabis industry. Amber Senter, co-founder, executive director, and chairman of the organization, spoke with Cheddar News about calling for changes in the Golden State's taxation system for legal marijuana. "We're really leaning on the legislators now to support the industry and make sure that this industry, in particular craft cannabis, can survive," said Senter.
