TSN

Impact of Government Shutdown on SNAP: The ongoing government shutdown threatens the Supplemental Nutrition Assistance Program (SNAP), which serves nearly 42 million people, potentially leading to an $8 billion revenue drop for U.S. grocers and food companies if benefits lapse in November.

Consequences for Retailers and Workers: Retailers, especially larger chains like Walmart, could face declining sales and increased waste of perishable goods, while workers may see reduced hours and wages due to decreased spending by SNAP recipients.

Response from Food Companies: Major food companies, including Kraft Heinz and Smithfield Foods, are preparing for potential sales declines linked to the SNAP benefit lapse, with some adjusting their business strategies to mitigate risks associated with SNAP dependency.

Call for Legislative Action: The National Grocers Association and other stakeholders are urging Congress to fund SNAP to prevent instability in the food supply chain and protect local grocers and their employees from serious financial consequences.

New Board Appointments: Jersey Mike's Subs has appointed Fran Horowitz and Cheryl S. Miller to its Board of Directors, bringing extensive experience in global brand leadership and franchise management to support the company's growth initiatives.

Leadership Insights: CEO Charlie Morrison expressed confidence in the new board members, highlighting their proven track records in driving performance and their potential contributions to Jersey Mike's expansion across the U.S. and internationally.

Company Growth: Jersey Mike's is experiencing significant growth with over 3,000 locations and has been recognized as one of the fastest-growing fast-casual restaurant chains in America, ranking highly on various industry lists.

Community Commitment: The company emphasizes its mission of giving back, having raised a record $30 million during its 15th Annual Month of Giving, contributing over $143 million to local charities since 2011.

Market Volatility: Stocks have experienced increased volatility following earnings reports, impacting investment strategies for both long-term and short-term investors.

General Motors Performance: General Motors' stock surged by 15% after its earnings report on October 21, indicating a positive market reaction.

Netflix Earnings Impact: Conversely, Netflix's shares dropped by 10% after missing earnings expectations on October 22, reflecting negative investor sentiment.

Investment Strategy Recommendations: Long-term investors may seek to capitalize on volatility, while short-term investors are advised to focus on lower-volatility stocks in the near future.