Raphael Stevens

Levi Strauss is raising its prices, which is helping the denim maker post better than expected profits.
The jeans company said its decision to increase the price of certain items has not led to a drop in demand.
Levi beat Wall Street’s quarterly expectations on the top and bottom lines and raised its full-year guidance.

A pedestrian walk by sign is posted in front of Levi Strauss headquarters on Oct. 9, 2025 in San Francisco, California.
Justin Sullivan | Getty Images

Levi Strauss’s profits are growing more than Wall Street expected despite higher costs from tariffs, thanks to targeted price increases and a shift away from wholesalers, the company said Thursday as it reported fiscal third quarter results. 
During the quarter, Levi’s gross margin grew 1.1 percentage points to 61.7%, up from 60.6% in the year-ago period and better than the 60.7% analysts had expected, according to StreetAccount. 

In an interview with CNBC, CEO Michelle Gass said the company has started to raise the price of some of its jeans and clothes and will hike more prices in the U.S. and other markets next year.
“As we’ve been taking these targeted actions, we’ve not seen an impact to demand. We’ll of course, stay very, very close to that but … we’re taking a surgical, thoughtful approach on any pricing,” said Gass. “We know that we’re a brand that is known for great quality and value. We don’t take that for granted. We know we have to earn that every day.” 
Finance chief Harmit Singh added demand is “really strong” and most of the company’s revenue growth is not coming from price increases.
Price hikes are helping Levi’s margins, but the company is also discounting less and selling more through its own website and stores instead of wholesalers, which comes at a higher margin. 
The denim maker said its strong results led it to raise its full-year outlook, but added it’s still taking a “prudent” and “conservative” look at the rest of the year as it navigates ongoing macroeconomic volatility, Singh said. 

Here’s how Levi’s performed during the quarter compared with what Wall Street was anticipating, based on a survey of analysts by LSEG:

Earnings per share: 34 cents adjusted vs. 31 cents expected
Revenue: $1.54 billion vs. $1.50 billion expected

Though Levi’s posted better-than-expected results, shares dropped more than 6% in extended trading. Its stock had climbed about 42% this year through Thursday’s close.
The company’s reported net income for the three-month period that ended Aug. 31 was $218 million, or 55 cents per share, compared with $20.7 million, or 5 cents per share, a year earlier. Excluding one-time items related to impairment and restructuring charges, among other expenses, Levi posted adjusted earnings of 34 cents per share. 
Sales rose to $1.54 billion, up 7% from $1.44 billion a year earlier.
Levi’s is now expecting its full year sales to rise 3%, up from its prior guidance of between 1% and 2% growth, far exceeding expectations of a 2.9% decline, according to LSEG. 
It’s expecting its full year adjusted earnings per share to be between $1.27 and $1.32, up from a prior range of between $1.25 and $1.30. At the high end, the outlook is in line with Wall Street estimates of $1.31 per share, according to LSEG. 
The jeans company said it’s expecting its operating margin to be between 11.4% and 11.6%, which is also in line with expectations of 11.6%, according to StreetAccount. It’s now expecting its gross margin to rise by 1 percentage point, which is the outlook Levi’s delivered earlier this year before it factored tariffs into its forecast. At the time, its guidance didn’t reflect any tariff impact. The following quarter, it cut its gross margin guidance by 0.2 percentage points because of the new duties. 
Now, Levi’s is returning to that original outlook, as long as U.S. tariffs on imports from China remain at 30% and rest-of-world duties stay at 20% for the remainder of the year. 
Under the direction of Gass, Levi’s has been working to grow its direct sales, expand beyond jeans and win over more female shoppers – strategies that helped the business grow both its top and bottom lines. 
During the quarter, direct-to-consumer revenue, or sales from Levi’s website and stores, grew 11%, driven by strength in the U.S. market, while women’s was up 9%. Levi’s is benefiting from strong momentum in the denim category, but the company is growing its assortment outside of just jeans, which gives it a hedge if fashion trends change.
Other types of clothes beyond denim bottoms, including tops, now make up nearly 40% of the business. The company’s efforts to sell more tops is also resonating with consumers, as that category was up 9% during the quarter. More

Delta executives say they expect premium revenue from first class and other higher-priced cabins to overtake the coach cabin next year.
In the last quarter, Delta said ticket revenue from its premium cabin rose 9% from last year to nearly $5.8 billion.
Delta and other airlines have become more reliant on more upmarket seats.

A view from the Delta Sky Club at Los Angeles International Airport, Sept. 2, 2022.
AaronP | Bauer-Griffin | GC Images | Getty Images

Delta Air Lines customers are getting used to first class.
Revenue from the pricier, roomier seats toward the front of the plane could eclipse sales from standard coach seats for at least a quarter or two next year, Delta executives said Thursday.

In the last quarter, Delta said ticket revenue from its premium cabin rose 9% from last year to nearly $5.8 billion, while main-cabin ticket revenue fell 4% from a year earlier to just over $6 billion.
CEO Ed Bastian said he’s seen no sign of premium-travel demand slowing down, a trend that helped drive the carrier’s upbeat forecast, released Thursday, for the rest of 2025 and next year.

Airlines from Delta to Frontier have been working to court travelers willing to pay more for seats on board.
During an investor day last year, Delta said that just 43% of its 2024 revenue was coming from main cabin tickets, down from a 60% share from in 2010. Meanwhile, Delta said that close to 60% of revenue last year was generated by premium seats and its lucrative loyalty program.
Delta, the most profitable U.S. airline, has benefited from its customers shelling out more for premium seats. Carriers have raced to add more of those seats to their fleets, some of them so elaborate — with lie-flat beds, ottomans and big entertainment screens — that they have delayed deliveries of new planes as regulators evaluate their design.

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Macao is transforming itself with fresh entertainment, waterparks, spas, fine dining and sports.
This week Las Vegas Sands is hosting two NBA games in Macao, a return for the basketball league after a six-year absence from China.
The government of Macao is intent on diversifying its economy and moving beyond its reputation as the gambling capital of the world.

MACAO — If you blindfolded an American tourist and plopped them on the Cotai Strip in Macao, they might take one look at the Venetian hotel and the replica Eiffel Tower and assume they were in Las Vegas.
Like Las Vegas, Macao — a special administrative region of China — is transforming itself with fresh entertainment, waterparks, spas, fine dining and sports.

This week Las Vegas Sands is hosting two NBA games in Macao, a return for the basketball league after a six-year absence from China. The company’s president and chief operating officer, Patrick Dumont, owns the NBA’s Dallas Mavericks and was pivotal in engineering the league’s return.
“I think it’s great for Macao, because it highlights really how great an entertainment city Macao truly is,” Dumont told CNBC in an interview. He highlighted the tens of billions of dollars invested to create a world-class destination for hospitality.
“We’ve been operating here for 21 years, and we’ve invested $17 billion, so the amount of entertainment capacity here is really tremendous,” Dumont said. “For us, the NBA just highlights that.”

The NBA games — between the Brooklyn Nets and Phoenix Suns, on Friday and Sunday — will be played at the Venetian Arena in Macao. Fans packed the same arena last month for an immersive K-pop concert by the group Twice.
Big-name events draw the biggest spenders at the gaming tables, according to analysts at Citigroup, which last month raised its projection for 2025 gross gaming revenue in Macao to $33.3 billion. Those projections represent growth of 10% year over year, an acceleration in gaming revenue gains.

For comparison, the state of Nevada booked a record $15.6 billion in gaming revenue in 2024, according to the American Gaming Association, citing Nevada Gaming Control Board.
But the government of Macao is intent on diversifying its economy and moving beyond its reputation as the gambling capital of the world.
When the six primary concessionaires, the companies that run licensed casino resorts in Macao, applied in 2022 to have those concessions renewed, the government extracted from them a commitment to invest nearly $15 billion over 10 years, with about 90% dedicated to non-gaming amenities.
Wynn Resorts CEO Craig Billings said in an email to CNBC that the company’s concession-related investments are “focused on entertainment and, as we have seen in many markets including Macau, entertainment is a clear driver of visitation.  And that visitation is from both gaming customers and non-gaming customers.”

View of Macao, Macao.
Contessa Brewer | CNBC

At Wynn Palace in Cotai, customers might snap selfies in front of an incredible collection of F1 race cars, ride a gondola over a Bellagio-esque fountain show, or dine at SW Steakhouse while catching a different theatrical show every 30 minutes. Wynn’s investment in food-court style dining belies the renowned cuisine represented from across China and around the world.
Gaming executives across multiple companies say the demographics of visitors have changed since borders reopened after the pandemic. Younger gamblers, high-rollers and their spouses or children are enjoying increasingly inventive and diverse amusements.

New amenities

MGM Macau’s Tria spa, the result of a $7 million investment, surprises guests with a room devoted to real snowfall. And its immersive experience pool puts the guest in the middle of a virtual ocean as a violent thunderstorm approaches, with massive rain shower heads overhead sending water cascading down.
MGM China President Kenneth Feng proudly showed off top-tier suites built to reward the best and most valuable players. He told CNBC his entire team is committed to offering modern uplifting design and superb service for an evolving Chinese visitor.
“These people are young and sophisticated, and many of them come to Macao so often,” Feng said. “We need to refresh our offerings so they are excited to come to Macao and happy to visit our properties.”
This week, families with children (and grandparents and “helpers” as the nannies are often called here) skipped through Melco’s Studio City, climbing atop Toy Story characters, racing toward the indoor/outdoor waterpark, and boarding the only figure-8 Ferris wheel in the world.
At Melco’s sister resort down the strip, City of Dreams, patrons young and old filled the theater for a destination show, “House of Dancing Water.”

View of Macao.
Contessa Brewer | CNBC

At every resort, the restaurants, shops, pools and clubs connect with corridors outside casino floors that are carefully cloistered behind screens to block the gaming tables and slot machines from view.

Getting back to gambling revenue

Visitation increased nearly 20% in the first half of 2025 to 19.2 million people, according to official government statistics. Golden Week alone, an eight-day holiday period ending October 8, was expected to bring in an estimated 1.2 million visitors.
And despite the strides in general entertainment, more visitors to Macao still means more gambling.
A JPMorgan analyst note published earlier this week said this year’s Golden Week was likely to be Macao’s best in five years, with the casinos projected to bring in $686 million in gaming revenue in just the first five days of the holiday.
CNBC was not allowed to photograph or record the casino floor, as its prohibited by law in Macao. The special administrative region takes great pains to avoid provoking the Chinese government, which staunchly opposes any promotion of gambling on the mainland.

View of Macao.
Contessa Brewer | CNBC

But it is gambling that fuels the profits and the tax revenue. Macao’s government collected $5.6 billion in gaming taxes in the first half of 2025, about 1% growth over 2024. The data from the first half of 2025 shows non-gaming spending per capita dropped by nearly 13%.
Las Vegas, too, has invested billions of dollars in entertainment, fine dining, spas, shopping and sports. Roughly two-thirds of revenue now comes from non-gaming sources, according to the Nevada Gaming Control Board.
Of course, that’s revenue; not profits. All those arenas, spas, pools and fancy theaters come with major construction and maintenance costs. And it takes a lot of high-priced concert tickets to pay off the investment.
Alan Woinski, publisher of The Gaming Industry Daily Report, blamed the slump in Las Vegas on declining tourist demand.
“It is pretty easy to understand that leisure is where the LV Strip is seeing business plummet. Could we get back the billions wasted on non-gaming amenities to attract the non-gambling leisure customer?” Woinski wrote on Wednesday.
Woinski says Macao is a different story: Here, the special events are driving the gambling.
“This month will be a good test because usually after a Golden Week, the rest of the month is weak,” Woinski told CNBC.
He said key metrics to watch are gross gaming revenue and whether the packed special events calendar for the rest of October helps deliver gaming revenue that finally returns to pre-pandemic levels.
One top casino executive, who asked to remain unnamed for fear of retribution, said there was “no way” Macao would ever be majority non-gaming revenue. The amenities, then, may just icing on the Baccarat cake.
— CNBC’s Jessica Golden contributed to this report. More

Delta topped quarterly profit expectations and forecast a stronger-than-expected finish to 2025.
Delta CEO Ed Bastian said the carrier expects to grow profit margins in 2026.
Premium travel revenue continued to outshine coach class, though domestic unit revenue grew.

Delta Air Lines Flight Museum in Atlanta, Ga.
Leslie Josephs/CNBC

Delta Air Lines forecast a better-than-expected end to 2025 thanks to rising airfares and resilient luxury travel demand.
The airline on Thursday projected adjusted earnings of between $1.60 and $1.90 a share for the fourth quarter, compared with the $1.65 per share analysts polled by LSEG were expecting. Revenue in the last three months of the year will grow as much as 4%, Delta said, above the 1.7% Wall Street expects.

“Looking to 2026, Delta is well positioned to deliver top-line growth, margin expansion and earnings improvement consistent with our long-term financial framework,” CEO Ed Bastian said in an earnings release.
Here’s how the company performed in the third quarter, compared with what Wall Street was expecting, based on consensus estimates from LSEG:

Earnings per share: $1.71 adjusted vs. $1.53 expected
Revenue: $15.2 billion adjusted vs. $15.06 billion expected

Delta’s outlook points to improved demand and less of a surplus of flights that pushed domestic fares and revenue down at airlines this year, particularly early in 2025 when consumer confidence was rattled in the early stages of President Donald Trump’s tariffs.
“Starting in July, cash sales picked up,” Bastian said in an interview.
The Atlanta-based carrier is the first of the major airlines to report results this quarter. Its shares were up more than 7% in premarket trading, and United Airlines, American Airlines and others were also up sharply after Delta’s upbeat forecast.

Delta’s third-quarter profit rose 11% to $1.42 billion, or $2.17 a share, up from $1.27 billion, or $1.97 a share, a year earlier. Adjusting for one-time items, including investment-related adjustments, its profit climbed 15% to $1.12 billion, or $1.71 a share, ahead of analyst estimates.
Adjusted revenue rose 4% year over year.
Premium travel demand continued to outshine the coach cabin. Revenue from the high-end segment, which includes first class and roomier economy seats, increased 9% in the third quarter to nearly $5.8 billion, while main cabin revenue fell 4% to about $6 billion.
Bastian said there were no signs of a consumer pullback for premium products.

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Delta and other carriers have culled unprofitable or less profitable flights such as those during unpopular midweek travel days to help stem an oversupply of seats in the market. That surplus of capacity along with shifting consumer habits and higher costs has made previously slam dunk summer profits more elusive for some U.S. carriers.
Domestic unit revenue rose 2% in the third quarter at the carrier on a 4% increase in capacity, and Delta forecast it would remain positive year over year in the current quarter. Stronger corporate travel demand helped to drive a 5% increase in overall domestic passenger revenue in the third quarter.
Delta said it expects adjusted, full-year earnings per share of $6, at the upper end of the $5.25 to $6.25 it forecast for 2025 in July.
When asked about the federal government shutdown, Bastian told CNBC that the airline hasn’t seen “any impacts at all” to its operation in recent days, but that if it continues for 10 more days or so, that could change. More

United is launching new nonstop flights to smaller European cities in a bet adventure-seeking customers will opt to avoid connecting flights.
New destinations include Bari, Italy; Split, Croatia; and Santiago de Compostela, Spain.
The airline is vying with Delta to become the luxury airline of the U.S.

Polignano a Mare in the Region of Puglia. Italy.
Artur Debat | Moment | Getty Images

United Airlines’ summer 2026 international travel plan is out, and smaller European cities are in.
Starting April 30, United plans to fly from its hub at Newark Liberty International Airport in New Jersey to Split on the Croatian coast — its second destination in the country. A day later the carrier is launching Newark to Bari in the popular Puglia region of southern Italy on the Adriatic Sea.

May 22 is the scheduled launch of a nonstop from Newark to Santiago de Compostela, in the Galicia region of Spain, the end of the famed Camino de Santiago pilgrimage trail.
The additions show United’s latest bet on high-spending travelers looking for trips beyond major European capitals, and the chance to fly to those places nonstop, without connecting in big hubs. The carrier is vying with Delta for big-spending travelers. Most of the new routes are operated with airplanes outfitted with its ever-growing, lie-flat Polaris cabin.
United executives have long touted its vast international network as a driver for customer loyalty and sign-ups for lucrative travel rewards credit cards.
Delta, for its part, has used a similar strategy and last month announced new nonstops to Malta and the Italian region of Sardinia for next summer. 
United’s other additions include a May 21 debut from its Washington Dulles International Airport hub to Reykjavik, Iceland, and a daily, year-round nonstop from Newark to Seoul, South Korea, starting next September. It will also start a Newark to Glasgow, Scotland, flight on May 8, on a Boeing 737 Max 8.

Patrick Quayle, United’s senior vice president of global network planning and alliances, said that destinations the carrier announced last year, including Nuuk, Greenland, will remain in the airline’s schedule for 2026.
United is also planning to add a third daily flight to Tel Aviv from Newark starting March 28.

Majestic landscape of Godafoss waterfall flowing with colorful sunset sky and male tourist standing at the cliff on Skjalfandafljot river in summer at Northern Iceland.
Mumemories | Istock | Getty Images More

Investment firms of the ultra-rich made 46% fewer direct investments in September compared with the same period last year, according to Fintrx.
But family offices such of those of Jeff Bezos and Michael Dell are still inking high-profile mega-rounds or making opportunistic bets.
Health-care entrepreneur Mark Mitchell told CNBC why his family office acquired a beauty retailer.

Jeff Bezos, founder and executive chairman of Amazon and owner of the Washington Post, takes the stage during the New York Times annual DealBook summit at Jazz at Lincoln Center on December 04, 2024 in New York City.
Michael M. Santiago | Getty Images

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
Deal-making may have rebounded on Wall Street, but investment firms of the ultra-wealthy are still moving cautiously. Family offices made 54 direct investments in September, down 46% on an annual basis, according to data provided exclusively to CNBC by private wealth platform Fintrx.

Despite the broader slowdown, billionaire family offices are still investing in mega-rounds for high-flying startups. Last month, the firms of Amazon founder Jeff Bezos and former Google CEO Eric Schmidt joined a $300 million seed round for Periodic Labs. Founded by former OpenAI and DeepMind researchers, Periodic Labs seeks to automate scientific research with artificial intelligence-powered robots running lab experiments.
Health-care and biotech startups also still garner interest from high-profile investors. Primary-care clinic group Harbor Health raised $130 million from Michael Dell’s DFO Management, Breyer Capital and Martin Ventures. The startup’s chief medical officer, Dr. Clay Johnston, was previously the dean of Dell’s namesake medical school at the University of Texas at Austin. Much of the funds will be used to expand Harbor’s insurance offerings and open more clinics.
The private equity slowdown has also left room for family offices to make opportunistic bets. In September, Birmingham, Michigan-based Mitchell Family Office acquired luxury beauty retailer Cos Bar for an undisclosed amount. Principal Mark Mitchell told CNBC that his offer was accepted within a month. Cos Bar had been held by a private equity owner for nine years and was the last deal in its fund, he said.

Mitchell founded his family office in 2015 after selling a majority stake in his home health-care business, U.S. Medical Management, to Centene. He later exited, receiving a total of $325 million, he said.
Having made his fortune in health care, Mitchell primarily invests in the sector, from adolescent in-patient psychiatric hospitals to bone marrow harvesting technology.

However, MFO is increasingly making investments in other industries to meet the needs and interests of Mitchell’s family, he said. In the case of Cos Bar, its high-end locations will be used to showcase AI-powered smart mirrors developed by his wife Colby’s startup, Swan Beauty. Retailing at $695, the mirrors analyze skin complexion to recommend beauty products and can also be used to virtually try on makeup.
“I would say the last few investments we’ve made are less, let’s say ‘patriarchal Mark Mitchell decisions’ and more second-generation decisions,” he said.

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Mitchell, 60, has five children ranging from 6 years old to 30. His adult son and daughter founded an automotive business and clothing line, respectively, that are owned by MFO. Involving his children in the family office has helped keep them motivated to succeed, he said.
“My son is the first one in and the last one to leave every day, and he’s actively looking at real estate investments. And my daughter is actively running her company 14 hours a day, seven days a week,” he said. “Sometimes the second generation of a wealthy family, in my experience, those adult children don’t grind after college. Mine are truly grinding, which also sets a good example for their younger siblings.”
In April, Mitchell bought women’s soccer team AFC Toronto. He said he initially invested because he was looking for a hobby, but he’s since become more involved with the team’s operations. It’s also brought the family together. Mitchell said his daughter is considering purchasing a women’s soccer team, his younger sons have started playing soccer and his whole family attends the games.
“Going back to the multigenerational thing, it’s been wonderful for the family to focus on and really take an interest in this,” he said. More

Ferrero North America plans to spend more than $100 million on marketing campaigns tied to the Super Bowl and World Cup next year.
The confectioner’s parent company has been pushing further into the U.S. over the last decade, through acquisitions and organic growth.
Live sports represent one of the few opportunities today to reach a large audience of consumers all at once.

Kinder Bueno chocolate bar packaging on a shelf in a store.
Igor Golovniov | SOPA Images | Lightrocket | Getty Images

Ferrero North America is planning to spend more than $100 million on marketing campaigns tied to the Super Bowl and World Cup next year.
The sports push comes as the confectioner’s parent company drives further into the United States through acquisitions and investments in domestic production. Ferrero, which was founded in Italy but is now based in Luxembourg, entered North America nearly a half century ago, but the company only really started investing in the market over the past decade.

In July, Ferrero bought cereal maker WK Kellogg for $3.1 billion, the latest in a deal spree that included snapping up Nestle’s U.S. candy business and Halo Top owner Wells Enterprises.
The Nutella owner, which just started its fiscal 2026 in September, is preparing itself for its biggest year yet in the U.S., where it is the third-largest candy company, trailing only Hershey and Mars. Its privately held parent company saw an 8.9% increase in turnover — or revenue — in the fiscal year ended Aug. 31, 2024, Ferrero disclosed in its most recent financial data. In the past year, Ferrero USA has seen dollar sales grow 4.5%, outpacing the broader confectionery and cookie categories, according to the company.
“We want to do something big to kind of reintroduce ourselves to North America,” said Michael Lindsey, chief business officer of Ferrero North America.
Ferrero North America’s bet on sports will kick off in February with the company’s first-ever Super Bowl ad, which will star Kinder Bueno. Its sister company Ferrera has previously aired spots during the big game, including last year’s Nerds Gummy Clusters ad.
Then, starting in June, Ferrero North America is planning a slate of promotions around the World Cup. Ads for its products will play before or after the games and the company plans to push promotions tied to roughly two dozen of its brands.

“Why sports? It’s still the largest audience, especially if you want to reach live consumers with something that they’re actually going to sit down in front of a TV and watch,” Lindsey said. “Especially the Super Bowl, they watch TV with an intent to watch the commercials, which is a very unique situation today when you’re trying to reach consumers who are skipping past your ads or getting up to make a sandwich.”
Earlier this year, more than 127.7 million viewers tuned in to watch the NFL’s championship game, setting a record, according to Nielsen Media Research. All of those eyeballs can make it appealing for companies to pay the hefty price tag for airing a commercial during the game. Advertisers are reportedly paying as much as $8 million to Comcast’s NBCUniversal for a 30-second spot during February’s match. In early September, NBCUniversal said it had already sold all of its Super Bowl ad spots.
And while football still reigns as the top sport for viewers in the U.S., soccer has been gaining ground. A reported 26 million U.S. viewers watched the 2022 World Cup final.
For the Super Bowl, all focus will be on Kinder Bueno, which has been sold stateside since 2019.
Ferrero chose to highlight the candy because it sees Kinder as “its most under-leveraged brand in the portfolio relative to its global success,” Lindsey said. Few Americans would guess that Kinder is the best-selling chocolate brand in the world, not Hershey or Nestle, according to Lindsey. Still, in a few years, Kinder has grown to become a more than $500 million brand in the U.S. for Ferrero, according the company.
Plus, last year, Ferrero opened its first-ever North American chocolate factory in Bloomington, Illinois, to manufacture Kinder products.
While the Super Bowl spot hasn’t been filmed yet, Lindsey said the commercial will coincide with a new dark-chocolate version of Kinder Bueno and a white chocolate iteration.
“[The Super Bowl] is just the perfect vehicle to drive a lot of trial all at once,” he said.
When the Super Bowl ad spot airs, the company said it will be the biggest marketing push by Ferrero ever, in any global market. But two months later, Ferrero plans to top that record with its World Cup promotions, which will kick off in April in North America. Almost every product across its portfolio will see its packaging shift as part of the campaign.
“We’re going all in: We’ll have one promotion and one set of packaging,” Lindsey said.
Customers will have to buy multiple products from across the portfolio to benefit from the promotion. The intention is to help consumers understand that Ferrero makes the breadth of products that they’re buying, from Nutella to Ferrero Rocher to Blue Bunny ice cream.
“It’s all very intentionally focused to drive trial from people who love one brand in the portfolio to become people who love the whole portfolio,” Lindsey said.
Disclosure: Comcast is the parent company of NBCUniversal, which owns CNBC. Versant would become the new parent company of CNBC upon Comcast’s planned spinoff of Versant. More

Delta Air Lines CEO Ed Bastian told CNBC that the carrier’s operation is running smoothly despite the federal government shutdown.
More than 13,000 U.S. flights were delayed this week, some of them due to shortages of air traffic controllers, raising concerns about strains on the country’s aviation industry during the shutdown.
Transportation Secretary Sean Duffy warned this week that the FAA is seeing a “slight uptick” in sick calls of air traffic controllers.

A Delta Air Lines Airbus A220 airplane prepares to takeoff at Ronald Reagan Washington National Airport in Arlington, Virginia, on July 10, 2025.
Saul Loeb | Afp | Getty Images

Delta Air Lines CEO Ed Bastian told CNBC that the carrier’s operation is running smoothly despite the federal government shutdown, but if it goes another 10 days that could change.
More than 13,000 U.S. flights were delayed this week, some of them due to shortages of air traffic controllers, raising concerns about strains on the country’s aviation industry during the shutdown.

Transportation Secretary Sean Duffy warned Monday that the Federal Aviation Administration is seeing a “slight uptick” in sick calls of air traffic controllers.
Bastian also said the shutdown is exacerbating concerns about the strain on air traffic controllers, a shortage of whom has vexed airline executives for years. Under the shutdown thousands of federal employees, including air traffic controllers and Transportation Security Administration officers at airports are working without pay.
Delta’s CEO said in an interview that the airline hasn’t seen “any impacts at all” so far from the shutdown but urged a quick resolution. A more than monthlong government shutdown from late 2018 to early 2019 ended hours after an increase in sick calls from air traffic controllers snarled travel in the New York area.
“I would say that if this doesn’t get resolved, say beyond another 10 days or so, you probably will start to see some impacts,” Bastian said in an interview with CNBC’s “Squawk Box” Thursday.
A perpetual shortage of air traffic controllers has vexed U.S. airline executives for years, and the FAA has scrambled to increase hiring.
Delta on Thursday reported better-than-expected third-quarter results and forecast a more profitable end of the year than analysts expected.

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