Post 369: Even Ozempic Can’t Keep Canada Out of Recession

• Generic versions of weight-loss drugs are now on the market.
  • Costing less to lose more.
• Hormel is a U.S. food-processing company based in Minnesota.
  • Sales improved slightly but it’s all price: volume is still negative.
    • We take a look back at the maker of Spam.
• Sharks vs. Coconuts cage match.
• Lululemon makes some changes to its board of directors.
  • While its share price continues to struggle.
• Weight-loss drugs have become so popular that they are blowing holes in the budgets of some municipalities and public health plans.
• House prices in Canada have been outpacing income for many years.
  • And now a whole generation is priced out of the house market in some markets.
• Chicken prices are soaring in Canada.
• And so are World Cup soccer tickets.
• Car prices have risen so much that Americans are buying fewer of them.
• Costco continues to chuck along and are a beneficiary of the weight-loss drug craze.
• In Financial Ructions:
  • Despite Canada being subjected to the lowest average tariff rate in the U.S. vs. any other G7 country.
    • It’s the only one in a technical recession.
  • Related: Jobs in Canada for younger people are hard to find.
• Book Review
  • We start a new book: Onward: How Starbucks Fought For Its Life Without Losing Its Soul.
    • We take a slightly different approach to the review.
  • Right away we see the importance of focusing on the customer rather than the share price.