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- [00:01]
Host 1
What is actual investing?
- [00:03]
Host 2
We believe that it's a real world.
- [00:05]
Host 1
Task to deliver thoughtful capital deployment.
- [00:07]
Host 2
It's not about speculating over the short term.
- [00:10]
Host 1
It's about understanding the long term opportunities.
- [00:12]
Host 2
For companies through technological progress or new business models. So we seek out those exploring big.
- [00:19]
Host 1
New ideas that will change the world. Then we back them to give those ideas time to flourish. Bailey Gifford Actual Investors Find out more@baileygifford.com.
- [00:30]
Simon Casey
Being a small business owner isn't just a career, it's a calling. Chase for Business knows how much heart and effort go into building something of your own. Manage all your business finances, from banking to payments to credit cards, all in one place with their digital tools. Plus access online resources designed to help your business thrive. Learn more@chase.com business chase for business make more of what's yours the Chase Mobile app is available for select mobile devices. Message and data rates may apply JP Morgan Chase Bank NA Member FDIC Copyright 2025 JPMorgan Chase &.
- [01:06]
Jake Silverman
Co. So you're telling me that the.
- [01:13]
Host 1
AI that's meant to make everyone's job.
- [01:15]
Jake Silverman
Easier to manage just adds more to.
- [01:17]
Host 1
Manage on top of the thousands of.
- [01:19]
Jake Silverman
Apps the IT department already.
- [01:20]
Host 1
Manages? Funny how that.
- [01:23]
Jake Silverman
Works. Any business can add AI. IBM helps you scale and manage.
- [01:28]
Host 1
AI to change how you do business. Let's create Smile to Business.
- [01:33]
Host 2
IBM. Running a business is hard enough. Don't make it harder with a dozen apps that don't talk to each other. One for sales, another for inventory, a separate one for accounting. That's software overload. Odoo is the all in one platform that replaces them all. CRM, accounting, inventory, E Commerce, hr. Fully integrated, easy to use and built to grow with your business. Thousands have already made the switch. Why not you try Odoo for free@odoo.com that's.
- [02:06]
Narrator/Announcer
Odoo.Com Bloomberg Audio Studios podcasts Radio news. You're listening to the Bloomberg Intelligence Podcast. Catch us live weekdays at 10am Eastern on Apple CarPlay and Android Auto with the Bloomberg Business app. Listen on demand wherever you get your podcasts or watch us live on.
- [02:31]
Simon Casey
YouTube. The newest company to get into the energy sphere, admittedly in nuclear energy, is the Trump Media and Technology Group. DJT is the ticker of course, and it's President Trump's company based basically social media company because it owns Truth Social, but they are now in nuclear fusion. So we want to understand what's going on here. Simon Casey is Bloomberg News, is Managing editor for Energy and Commodities. Simon Trump Media and Technology is now a nuclear fusion company. How does this.
- [03:02]
Host 1
Work? Yeah, I don't think anybody had this on their bingo card this morning. We certainly didn't. It appears that they are a fusion company as much as they're a social media company or a crypto company. Now they're merging with a company called tae. It's a, far as we can see, a credible fusion player. They've been around for over two decades. They've raised money from the likes of Goldman Sachs, from Google and various other big investors. I think Chevron. Chevron, the oil company's venture capital arm, has put money in as well. This deal gives them, I believe, something in the region of $200 million of cash infusion to continue their work for DJT. They are touting this as a pivot to the exciting world of nuclear fusion, which is the future of cheap, affordable, abundant energy for everybody. And that's been the dream for decades. Of course, there was a breakthrough in 2022 where fusion was actually created for a brief moment in a laboratory. It's Lawrence with a mold laboratory. And that was a fairly significant achievement. And it's been recreated since, but only sort of sporadically and not at commercial.
- [04:15]
Host 2
Scale. We're a long way.
- [04:16]
Host 1
Off. You know, it's very technically challenging to do this, let alone.
- [04:22]
Host 3
Commercially. I'll ask the elephant in the room question, where are we in conflicts of interest with this president and this administration and investments in business and that type of thing? Where's the market Kind of evolved to. This is. This is before the Trump administration. This stuff, I would say rarely.
- [04:38]
Host 1
Happened. It almost, I could, I struggle to remember it happening now. It's commonplace, isn't it? And you know, we. Let's be clear, the Trump administration has a very, a very robust, I would say very sort of clearly outlined energy agenda and energy dominance agenda. They are pro fossil fuel. They also support the nuclear industry. And the nuclear industry is, you know, know, taken. Has gained a lot of momentum since that discussion discovery I mentioned in 2022. But since Trump has come in, he's been very supportive of the nuclear industry to build new nuclear reactors. Look, we have, we have serious issues here in this country with nuclear, with power demand from the AI industry and how we're going to service that demand and keeping a lid on prices. The energy secretary, Chris Wright, is also very pro nuclear, being very vocal on that front. But yeah, it's kind of amazing nevertheless to see this kind of deal this.
- [05:34]
Host 3
Morning. Well, just looking at the DES function for DJT, 12 employees, I guess in the trailing 12 months, 3.7 million of revenue, 1.3 billion of cash, though 950 million of total debt. So what does Donald Trump Company, Trump Media and Technology Group Corporation, what is that? Did they really bring to this deal other than maybe some.
- [05:59]
Host 1
Cash? The name, I guess, the ticker. Yeah, it's to a large extent it is a meme stock, I think it's fair to say. And with a, with a cash pile and if they can use some of that cash pile to, to fund nuclear research and development, then maybe that's a sensible use of that.
- [06:13]
Simon Casey
Cash. Yeah, name recognition goes a long way in 2025 and 2026. Simon, how big is the investable universe of nuclear companies right.
- [06:22]
Host 1
Now? That's a good question. I mean, in terms of fusion companies, I think this, this will be the first company fusion developer that's actually listed on a stock exchange. So there's a handful of these companies, some of them on the east coast here. There's a big, there's a cluster around the Boston area and they're all privately held, apart from this one. In terms of other nuclear stocks, there's a handful of them. There's a company called Fermi which has had a lot of interest recently, which is trying to develop a, a campus down in West Texas that would include AI data centers and potentially a new nuclear reactor to power that data center. That's a very ambitious project. Then you have a handful, as I say, of other companies that are trying to develop small, medium sized nuclear reactors. And this is the other thing that the Trump administration is very keen on to kind of lower the cost of entry, if you like, into the nuclear.
- [07:23]
Host 3
Industry. What can you tell us about the timetable associated with commercially deploying utility scale fusion power.
- [07:32]
Host 1
Companies? So, well, if we're talking fusion, it hasn't been proved at commercial scale, so we're probably talking decades before. I would say it's.
- [07:41]
Host 3
Fair. So I'm just looking at the Bloomberg reporting and this Mike, the combined company plans to begin construction next construction next year on the world's first utility scale fusion power plant. So that's going to take a long time to construct.
- [07:53]
Host 1
That. I mean, we don't even know if it can work at a commercial scale. Now. They can, they can pour the concrete and build the foundations. Nothing to stop them doing.
- [08:02]
Host 3
That. And this sounds like a multibillion dollar type of plant for these.
- [08:05]
Host 1
Things. Potentially no one's ever built one before. So we don't really know. I mean, we know that, you know, conventional fission reactors, which have been around since the end of the second World war, they take the last one built in this country went over budget and it was about over $10 billion I.
- [08:20]
Simon Casey
Believe. Who's going to provide the financing on all.
- [08:22]
Host 1
That? I think if it can work at scale then you might, a lot of more investors might take a look at this, including mainstream investors. But it's so, it's so sort of hypothetical at the moment. It's almost impossible to say what is the return on investment going to.
- [08:37]
Simon Casey
Be for something so like it's early innings. Not even first.
- [08:39]
Host 1
Innings. It's very early innings. I mean the sort of the well worn joke, it's not even funny anymore that nuclear fusion, it's the future and it's always been it's the future 30 years out and it always will be 30 years out. That's kind of where we've always been. It exists in the textbooks, it now exists in the laboratory, which don't get me wrong, is a big step forward. But transferring that, creating nuclear fusion for a fraction of a second and then evolving that to where it's on all the time and being able to power a town or a city is a, a quantum.
- [09:13]
Host 3
Leap. Smr. Small modular.
- [09:16]
Host 2
Reactors.
- [09:17]
Host 3
Yes. How that seems like pretty cool technology to me. But that's still years.
- [09:21]
Host 1
Out. That is again probably years out because it's technically challenging. But it does exist. I mean we, you use them in nuclear submarines and aircraft.
- [09:29]
Host 3
Carriers.
- [09:30]
Host 1
Yeah. So there's nothing to stop you taking one of those out of, out of a ship and having it on land. The challenge there is actually possibly more regulatory and again, that's something that the Trump administration is actively trying to address in terms of permitting reform and so forth. So there are companies that are listed that are developing these things. We haven't seen one yet that's been sort of produced and it's been proven. It can be manufactured at scale, but it's more achievable, I would.
- [09:59]
Host 3
Say. Stay with us. More from Bloomberg Intelligence coming up after.
- [10:04]
Host 1
This. What is actual.
- [10:07]
Host 2
Investing? We believe that it's a real.
- [10:10]
Host 1
World task to deliver thoughtful capital.
- [10:12]
Host 2
Deployment. It's not about speculating over the short.
- [10:15]
Host 1
Term. It's about understanding the long term.
- [10:17]
Host 2
Opportunities for companies through technological progress or new business models. So we seek out those exploring.
- [10:24]
Host 1
Big new ideas that will change the world. Then we back them to give those ideas time to flourish. Bailey Gifford, actual investors Find out.
- [10:34]
Host 2
More@Bailliegiford.Com Running a business is hard enough, so why make it harder? With a dozen different apps that don't talk to each other, one for sales Another for inventory, a separate one for accounting. Before you know it, you are drowning in software instead of growing your business. This is where Odoo comes in. Odoo is the only business software you'll ever need. It's an all in one fully integrated platform that handles everything CRM, accounting, inventory, E commerce, HR and more. No more app overload, no more juggling logins. Just one seamless system that makes work easier. And the best part? Odoo replaces multiple expensive platforms for a fraction of the cost. It's built to grow with your business whether you are just starting out or already scaling up. Plus it's easy to use, customizable and designed to streamline every process so you can focus on what really matters running your business. Thousands of businesses have made the switch, so why not you try Odoo for free@odoo.com that's o d o o.com.
- [11:37]
Jake Silverman
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- [11:58]
Narrator/Announcer
Payment of $45 for three month plan equivalent to $15 per month required new customer offer for first three months only. Speed slow after 35 gigabytes if network's busy, taxes and fees extra. See mintmobile.com Healthcare can feel complicated. That's why Optum uses technology to connect the people and processes that make healthcare easier, more affordable and more effective. We're making it clearer for you to know exactly what your benefits cover and to help you better manage your health. We're coordinating care between your doctors and your technology. We believe better, simpler healthcare is always possible. That's healthy optimism. That's Optum. Visit optum.com to learn more. You're listening to the Bloomberg Intelligence Podcast. Catch us live weekdays at 10am Eastern on Apple CarPlay and Android Auto with the Bloomberg Business app. Listen on demand wherever you get your podcasts or watch us live on.
- [12:52]
Simon Casey
YouTube. Paul I think we need to take a closer look at Micron given the roaring comeback it's made this year. I mean, memory chip maker, that's an old school product, but it's having its day. Let's bring in Jake Silverman, Bloomberg Intelligence Semiconductor Analyst to recap these results. Jake, let's start just with the big massive gain Micron has seen this year, up 200%. What were investors pricing in and did they get what they wanted with today, with yesterday's earnings.
- [13:17]
Jake Silverman
Report? Yeah, I think investors were expecting a little bit more of a subdued outlook for the second fiscal quarter, primarily just due to typical little bit of conservatism for management. But also the February ended quarter tends to be a little bit more seasonally weak. You get December portion of that. But usually consumer products, PCs and smartphones tend to see a little bit of a sequential decline just off of strong holiday seasonality. We all kind of knew that pricing was going to be the most important factor going into the quarter. And obviously demand from AI is pretty strong. But there are areas like high bandwidth memory where they're actually. Micron's actually somewhat constrained in terms of their ability to supply just simply because they haven't invested in that much additional capacity and they need to improve yields and they're transitioning over from HBM3E to 4, which is to support Nvidia's next architecture and other customers. So there's a few factors going on here that I think had investors a little bit more maybe conservative in terms of what they were.
- [14:17]
Host 3
Expecting. I don't know a lot about semiconductors and I want to keep it that way. But what I do know is it's a cyclical business. Has this AI spending thing kind of evened out. The cycles are just throw the cycles out the.
- [14:30]
Jake Silverman
Window. It's a little unprecedented. I don't think that we're necessarily at that point where we can say that there aren't going to be cycles or at least not in the next, I don't know, call it five, ten years, something like that. Typically what we see with memory, I'll just focus on that specifically. We tend to see something like seven to ten quarters, about two years plus of up cycles. And then what happens from there is that we tend to see some sort of cyclical decline. And that really is because of supply ending up being a little bit more, a little bit more supply growth relative to demand growth. AI is structurally limiting some of that. We're seeing AI inferencing demand being really strong. That's both for DRAM and NAND at this point. DRAM is more important for Micron. It's a much more. It's a much larger percentage of their sales and that's where high bandwidth memory is included in their revenue. And so what this does to the cycle, it's definitely extending it, it's elongating what we would expect. And it's making it a lot more difficult for investors, I think, to capture what will be the ultimate peak of the cycle. But on the other hand, we have to look at what's happening with pricing. If customers like PC, smartphone, automotive, run the gamut, if they can't get supply, someone's going to need to meet that. Which means that Micron or their peers are going to, at some point, need to expand capacity. They're kind of working on it. They hinted at it with the additional capex increases for the fiscal 26 going up from 18 to 20 billion. But it's just a question of how fast and to what magnitude can they actually increase.
- [16:17]
Simon Casey
Capacity. Right, and I'm glad you bring that up because we know that the industry is shifting production to the more advanced technology for data centers, and therefore there's a shortage of this less sophisticated memory chips for PCs. Doesn't that mean that Micron has the upper hand when it comes to Dell or HP and they can call the shots more? I mean, what does a Dell, what does an HP do then if they can't get what they.
- [16:39]
Jake Silverman
Need? Yeah, it's complicated. So Micron has to decide how they want to allocate that capacity that they have, whether that goes to PC. I think that when you're a larger customer like Dell, hp, you kind of have to just take the product at the price that Micron is offering it. Now, I do think if you could buy in large volumes, you can mitigate some of those price increases. But at the end of the day, you're being dictated by the market demand, the market forces. But also when prices have declined in the past, PC makers have also benefited from that. So if there is a cyclical decline, which I expect to happen at some point, they'll also benefit from a decline in memory pricing as.
- [17:21]
Host 3
Well. Where does Micron manufacture its.
- [17:25]
Jake Silverman
Chips? Yes, it's primarily in Taiwan, but also in Japan as well. And they have a Fab in Manassas, Virginia, but they're also expanding now to Boise, Idaho, and they're eventually going to bring a fab online in New York. So it's pretty geographic. Where in New York do we know Clay? New.
- [17:44]
Simon Casey
York. Where's Clay? New.
- [17:45]
Host 3
York? I'm going to say up there.
- [17:47]
Simon Casey
Quinnell. Upstate. Okay. Yeah. So not, not near.
- [17:50]
Host 3
Us. No, Upstate, there's, you know, I didn't know there's upstate, and I think there's Midstate, some people call.
- [17:55]
Simon Casey
It. Well, everyone in Manhattan thinks upstate is like Westchester.
- [17:58]
Host 3
So.
- [17:58]
Jake Silverman
Right.
- [17:59]
Host 3
Yes. But I learned this during the pandemic, there's different regions of the state of New York. I have to go Google that now. I didn't. I wasn't aware of.
- [18:06]
Simon Casey
That. Well, you're a New Jersey guy, so there's just a city and then that's.
- [18:09]
Host 3
It. That's exactly. Exactly right. Stay with us. More from Bloomberg Intelligence coming up after.
- [18:14]
Host 2
This. Running a business is hard enough, so why make it harder? With a dozen different apps that don't talk to each other, One for sales, another for inventory, a separate one for accounting. Before you know it, you are drowning in software. Instead of growing your business, this is where Odoo comes in. Odoo is the only business software you'll ever need. It's an all in one, fully integrated platform that handles everything. CRM, accounting, inventory, E commerce, HR and more. No more app overload, no more juggling logins. Just one seamless that makes work easier. And the best part, Odoo replaces multiple expensive platforms for a fraction of the cost. It's built to grow with your business, whether you are just starting out or already scaling up. Plus, it's easy to use, customizable and designed to streamline every process so you can focus on what really matters running your business. Thousands of businesses have made the switch, so why not you try Odoo for free at odoo. Com that's O D O o.
- [19:16]
Narrator/Announcer
Com Healthcare can feel complicated. That's why Optum uses technology to connect the people and processes that make healthcare easier, more affordable and more effective. We're making it clearer for you to know exactly what your benefits cover and to help you better manage your health. We're coordinating care between your doctors and your technology. We believe better, simpler healthcare is always possible. That's healthy optimism. That's Optum. Visit optum.com to learn more. The world is buzzing with AI tools. But instead of making things easier, they've made things overwhelming. There's a better way. Meet Superhuman, the AI productivity suite that gives you superpowers so you can outsmart the work chaos with Grammarly, mail and coda. Working together, you get proactive help across your workflow. No matter how you work, experience AI that meets you right where you are. Unleash your superhuman potential today. Learn more@superhuman.com podcast that's superhuman.com.
- [20:17]
Host 3
Podcast. Managing multiple accounts and logins for your marketing needs is like managing multiple announcers for one ad. Confusing, but with mailchimp's new SMS.
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Rachel Fuwer
Features, you can reach all your customers.
- [20:32]
Narrator/Announcer
In over 10 countries, all from one.
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Rachel Fuwer
Account, giving you more time Driving more.
- [20:37]
Narrator/Announcer
Conversions and improving campaign.
- [20:38]
Host 3
Performance. One platform, many audiences, endless.
- [20:42]
Host 2
Possibilities. That's how you mailchimp your marketing with.
- [20:45]
Rachel Fuwer
Sms. Tap the banner to learn.
- [20:47]
Narrator/Announcer
More. You're listening to the Bloomberg Intelligence podcast. Catch us live weekdays at 10am Eastern on Apple CarPlay and Android Auto with the Bloomberg business app Listen on demand wherever you get your podcasts or watch us live on.
- [21:02]
Host 3
YouTube. Activist investor Elliott Investment Management has built a stake of more than $1 billion in Lululemon Athletica. The stock is up 6 1/2% today, but I think the problem is it's down 42% year to date. So let's see what's going on over there at Lulu. Poonam Goyal, senior US E Commerce and retail analyst, Bloomberg Intelligence. She's based down there in Princeton. She joins us. Puna, what's going on with Lululemon? What's the problem here and what do you think Elliot believes it can do to fix.
- [21:32]
Poonam Goyal
It? The problem is that they've had plenty of execution missteps over the past few years led directly to product innovation. And as they search for a new leader at helm, the candidate that he's outlined seems like a strong one. You know, she's led a turnaround or help lead a turnaround at Ralph Lauren in the past at Coach, both iconic brands that struggled in that time and she helped lead that turnaround. So I think Lululemon, while a different turnaround, she has the track record if she is at the lead to really help drive this.
- [22:08]
Simon Casey
Turnaround. Put us a little bit more about the role of Chip Wilson. He founded Lululemon and he's been making comments, really agitating for change, accusing Calvin McDonald of killing innovation and some serious strategic missteps. But he is not part of management at Lululemon. So why does his voice carry such.
- [22:29]
Poonam Goyal
Weight? I mean he, he was the founder, right? He, he did find this brand, he did grow this brand very quickly into a strong, loved, well known brand. And I think the brand emerged by having great product. Like if you think about Lululemon in the past, it was all of our product. You could not find Lululemon product or something like it anywhere else. Leggings that made you feel good, leggings that performed. That's how they made their mark. And the question is, what's next? Have they been able to innovate fast enough to prevent competition from encroaching that space? And the answer is no. And that's the struggle that they're having right.
- [23:10]
Host 3
Now. Is it just a question of money? Putting more money into, I don't know, research and development of leggings. I don't know how that.
- [23:17]
Poonam Goyal
Works. I think it's execution, right? It's about staying ahead of trends and really innovating faster than competition. Clearly today with AI and other mediums there is the ability for a competition to come on faster. But that said, Lululemon was ahead of the game and they've kind of fallen behind. So they do need someone who knows the product story and can lead a product led.
- [23:40]
Host 3
Turnaround. Stay with us. More from Bloomberg Intelligence coming up after.
- [23:45]
Host 2
This. Running a business is hard enough, so why make it harder? With a dozen different apps that don't talk to each other, One for sales, another for inventory, a separate one for accounting. Before you know it, you are drowning in software. Instead of growing your business, this is where Odoo comes in. Odoo is the only business software you'll ever need. It's an all in one, fully integrated platform that handles everything CRM, accounting, inventory, E commerce, hr and more. No more app overload. No more juggling logins. Just one seamless that makes work easier. And the best part? Odoo replaces multiple expensive platforms for a fraction of the cost. It's built to grow with your business, whether you are just starting out or already scaling up. Plus, it's easy to use, customizable and designed to streamline every process so you can focus on what really matters running your business. Thousands of businesses have made the switch, so why not you try Odoo for free@odoo.com that's o d o o.com healthcare can feel.
- [24:50]
Narrator/Announcer
Complicated. That's why Optum uses technology to connect the people and processes that make healthcare easier, more affordable, and more effective. We're making it clearer for you to know exactly what your benefits cover and to help you better manage your health. We're coordinating care between your doctors and your technology. We believe better, simpler healthcare is always possible. That's healthy optimism. That's Optum. Visit optum.com to learn more. The world is buzzing with AI tools. But instead of making things easier, they've made things overwhelming. There's a better way. Meet Superhuman, the AI productivity suite that gives you superpowers so you can outsmart the work chaos with Grammarly, mail and coda. Working together, you get proactive help across your workflow. No matter how you work experience AI that meets you right where you are. Unleash your superhuman potential today. Learn more@superhuman.com podcast that's superhuman.com podcast.
- [25:48]
Host 3
Managing multiple accounts and logins for your marketing needs is like managing multiple announcers for one.
- [25:58]
Host 1
Ad.
- [25:59]
Host 2
Confusing. But with mailchimp's new SMS features.
- [26:02]
Rachel Fuwer
You can reach all your customers in.
- [26:03]
Host 2
Over 10 countries, all from one account.
- [26:06]
Narrator/Announcer
Giving you more time, driving more conversions and improving campaign.
- [26:09]
Host 3
Performance. One platform, many audiences, endless.
- [26:13]
Host 2
Possibilities. That's how you MailChimp your marketing with.
- [26:16]
Rachel Fuwer
SMS. Tap the banner to learn.
- [26:18]
Narrator/Announcer
More. You're listening to the Bloomberg Intelligence podcast. Catch us live weekdays at 10am Eastern on Apple CarPlay and Android Auto with the Bloomberg business app. Listen on demand wherever you get your podcasts or watch us live on.
- [26:33]
Host 3
YouTube. More earnings out there this time from our friends at Darden Restaurants. Put out some, I think surprisingly pretty good news out there. Let's check on the Rachel Fuwer, she covers the restaurants for Bloomberg News. She joins us here in our studio. Rachel, what did we hear from Darden.
- [26:49]
Rachel Fuwer
Today? Yeah, so the company has done well today. It saw same store sales rise. It actually raised its sales forecast and stock is up as much as 4, 4.5% today, which is the biggest gain in almost seven months. And I mean while sales are up though, its profits have kind of taken a hit because of high beef prices. You know, we have been hearing about that. That has affected their earnings for a little bit. But now they do expect beef prices to hopefully come down in the near.
- [27:21]
Host 3
Future. Okay. I guess their fast casual is kind of their stuff. So like I'm sitting down, I've got a waitress, I'm doing all that stuff. But it's talk to us about their brands and what they're saying about their brands.
- [27:33]
Rachel Fuwer
Sure. Yeah. So I guess they would call themselves a bit more casual dining. Yeah, fast casual. I guess. You know, this, this industry has their terms but yeah, they're actually kind of saying that it's actually still been pretty resilient. You know, their target audience are these like middle and high income customers and those haven't been so much affected by the economy. Maybe they're a bit more worried but they, that hasn't really stopped them from spending. And you know, they see these restaurants as kind of a treat to them and you know, for many consumers too. I think they're starting to see these restaurants like Olive Garden and Longhorn Steakhouse as a place where they can kind of get pretty good food for, you know, a pretty good price right now. Especially when you see places like Cava and Chipotle, which those are your fast casual places. And you know, they're pretty expensive now with inflation. And so the comparison is, you know, like as a consumer you know, why don't just pay a little bit more and I can get a better experience at an Olive.
- [28:27]
Host 3
Garden. So they're. They're raising their full year forecast. Is that more on the revenue side or is that costs or what are they doing.
- [28:34]
Rachel Fuwer
There? So they actually increase their same store sales, the comparable sales. And so they do expect, you know, consumers to keep coming. You know, they have other tools in their belt to kind of keep drawing the consumers. Like, they are small. They introduce, like, smaller portions. They are on Uber Eats now. But yeah, they actually maintain their earnings per share guidance just because of commodity.
- [28:57]
Host 3
Prices. So again, what are some of the. Are you seeing differences within the restaurant industry, you know, the lower end to the higher end, about just sales trends, how their customers are doing, or is it a different.
- [29:08]
Rachel Fuwer
Discussion? I think it is a different discussion. I think we've heard a lot about how a lot of the fast food chains, a lot of the fast casual chains, you know, they're still getting hit by your lower income consumers kind of pulling back, you know, like inflation and commodity prices are high, whereas your casual dining restaurants, you know, they seem to still be pretty resilient. Like Chili is another example. They're still able to draw that consumer, which is. Who are still able to spend a little bit.
- [29:36]
Host 3
More. So as a reporter covering the restaurant industry, you got to get out of New York City because we don't have a lot of that stuff here. So you got to travel around the country, Right. Go to where the cracker barrels are in the city. Chili's.
- [29:46]
Rachel Fuwer
Are. Yeah, you definitely have to. I think for most of us, I mean, in New York City, unfortunately, you have to try to get into Times Square just to get that, but I want to get one faster, which is not the most.
- [29:58]
Host 3
Fun. Yeah, exactly. So what's the format? You know, what are. What's the buzz within the restaurant industry these days about, like, maybe the format or is there a new cool company? Like, for a while, there was Shake Shack and all the burger stuff and the Smash burgers and all that.
- [30:13]
Rachel Fuwer
Stuff. I mean, I think Chili's was the cool company for a bit. You know, they had really good social media. You know, a lot of the items were going viral, I think, with Olive Garden. You know, I think what we've seen today is the popularity of smaller portions seem to be something that consumers are gravitating towards, you know, especially with some of them, you know, going on weight loss drugs, you know, becoming more like health conscious. You know, this might be actually a good play for.
- [30:43]
Host 3
Them. Yeah, so was that ever a thing with the GLP1 drugs and restaurants or is that.
- [30:49]
Rachel Fuwer
Faded? I think they're still trying to figure it out. I think, you know, I think we are still trying to figure out too, like how many people are actually really going to go on the drugs. How, you know, are people going to go off it. So I think they are also watching it. They did say they are slightly affected. Like some, they're seeing some diners cut back on appetizers and desserts. But they also say that it's mostly alcohol, which we are that they're pulling back on, which is the longer term.
- [31:14]
Narrator/Announcer
Trend. This is the Bloomberg Intelligence Podcast available on Apple, Spotify and anywhere else you get. Your podcasts listen live each weekday 10am to noon eastern on bloomberg.com the iHeartRadio app tune in and the Bloomberg Business app. You can also watch us live Every weekday on YouTube and always on the Bloomberg Terminal. Look Santa, the kids left you. Pepperidge Farm.
- [31:43]
Host 2
Cookies. Milano mint chocolate, so.
- [31:46]
Poonam Goyal
Rich. Jessamine butter cookies, so.
- [31:48]
Host 2
Buttery. And Linza.
- [31:50]
Narrator/Announcer
Raspberry. A holiday.
- [31:51]
Host 2
Classic. These are fancy Santa, fancy Santa, fancy.
- [31:57]
Simon Casey
Santa. Designer.
- [31:58]
Narrator/Announcer
Cologne. Spritz Me Vintage.
- [32:00]
Host 1
Timepiece. Classy.
- [32:02]
Host 2
O'.
- [32:02]
Simon Casey
Clock. Gold chain with.
- [32:04]
Host 2
Diamonds. Now that's fancy. Pepperidge Farm.
- [32:09]
Host 1
Cookies. Fancy a taste. Enterprise leaders are revolutionizing their marketing operations with AWS AI. This proven technology turns resource intensive advertising processes into intelligent autonomous systems that deliver real time optimization on a global scale. Amazon's own transformation journey shows the true power of enterprise AI innovation. And now your organization can tap into the same technology that drives Amazon's advertising success. AWS AI where advertising meets Intelligence Discover the Amazon ad story@aws.com AI our-story Only one movie answers the.
- [32:50]
Narrator/Announcer
Call. Hello, it's me.
- [32:52]
Host 1
SpongeBob. For the biggest comedy event of the holiday season. Do you know what the big, the best part.
- [32:58]
Narrator/Announcer
Is? What is it.
- [32:59]
Host 1
Patrick? No, I'm.
- [33:00]
Host 2
Asking. The spongebob movie Rated DG Friday.
- [33:03]
Host 1
It'S football season and now you can.
- [33:05]
Host 3
Get anything you need for game day delivered with Uber.
- [33:08]
Host 2
Eats. Well.
- [33:09]
Jake Silverman
Almost. Almost anything. You can't get a running back, but baby back ribs. Yes, Uber Eats official on demand food delivery partner of the.