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As the Consumer Turns

Adam Josephson

Reformed sell-side equity research analyst; my background is in paper & packaging and more broadly the goods industry, and I follow accounting, banking, and economy-wide issues as they pertain to my former coverage universe.

Platform
Substack
PricingOnly free issuesPublishesTwice weekly
Issues12SubscribersRead adamjosephson.substack.com

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Latest Issues

Recent posts by this newsletter. Browse the email archive.

The Consumer Company Hits Just Keep on Coming

I wrote two days ago about the growing list of prominent consumer companies that have cut their full-year sales guidance in the last three months on account of weakness in consumer spending. If this morning is any indication, the list is ab...

13 days ago
1
0

What Are the CPG Companies Telling Us?

I’ve written at length about some of the mixed economic signals in the U.S.: above-trend GDP growth, continued strength in services spending and record household net worth, yet at the same time rising and elevated auto and credit card delin...

14 days ago
2
0

The Latest on Real Earnings and Consumer Companies

The Bureau of Labor Statistics released real (inflation-adjusted) earnings data for September this morning. I focus on real average weekly earnings because they incorporate changes in the average workweek, which has been in a steady decline...

25 days ago
0
0

Another Sales Guidance Reduction From PepsiCo

I wrote yesterday about the unusually large number of consumer-related companies to have cut their full-year sales guidance in recent months amid an apparently healthy economy with above-trend GDP growth and robust corporate profit growth. ...

a month ago
3
0

Authors

The writers behind this newsletter.

  • Adam Josephson

    Reformed sell-side equity research analyst; my background is in paper & packaging, and I follow accounting, banking, and economy-wide issues as they pertain to my former coverage universe.

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