Latest news with #StewLeonard
Bloomberg
03-07-2025
- Business
- Bloomberg
Stock Futures Steady After Blowout June Jobs Report
Get a jump start on the US trading day with Matt Miller, Katie Greifeld and Sonali Basak on "Bloomberg Open Interest." Traders are scrapping bets on July rate cuts after June jobs report came in better than expected. Chips stocks rally after the US lifts chip design software curbs on China, a possible precursor for Nvidia to into demand there. Stew Leonard's CEO joins Open Interest to discuss the impact of tariffs on supermarkets ahead of Independence Day. (Source: Bloomberg)
Yahoo
11-06-2025
- Business
- Yahoo
Grocery store inflation: How tariffs are hitting your shopping cart
Grocery prices rose 0.3% in May from a month-over-month decline in April, according to the latest Consumer Price Index (CPI) reading reported by the US Bureau of Labor Statistics on Wednesday. Stew Leonard's CEO and president, Stew Leonard Jr., joins Wealth with Brad Smith to discuss the food pricing pressures that American consumers are navigating. To watch more expert insights and analysis on the latest market action, check out more Wealth here. Food prices rising in May from the month prior according to the latest inflation print from the Bureau of Labor Statistics, known in your hood as the BLS. Groceries or the food at home index showed prices increased 3/10 of a percent last month. We saw that monthly figure fall 4/10 of a percent in April. Here with more, we've got Stu Leonard Jr., CEO and President of Stu Leonard's. Stu, always a pleasure to grab some time with you. You know, just first and foremost, take us into the areas, the parts of folks shopping carts that you're seeing the most moderation or customer push back. Well, you know, right now, you know, we're family business here up in the Northeast, uh, and, um, uh, you know, we have eight stores, we have 100,000 customers a week, and we pride ourselves being on the floor and keeping our ears open to what customers say. So far, people feel pretty confident, um, at least at our company, we have not raised prices yet because the tariffs or anything, prices are the same right now. But you know what, there's a supply and demand issue right now. Like, I was talking to our ranchers out west, the herd size in America is the lowest that it's been in like 40, 50 years right now. So, that's a supply and demand issue. So I think you have to break apart a little bit of any increase in cost, it's not tariffs, uh, a lot of it is through the supply and demand also. And, and that's so interesting to hear the herd issues that you were mentioning a moment ago. That comes after the avian flu hits, of course, a lot of the egg and bird and chicken prices that we had seen as well. So, I wonder how much lag is there until there's typically some type of pass through and prices that consumers have to wade through. Well, you know, Brad, one of the things that we deal with a lot of small local businesses and a lot of them are getting hit with the tariffs. I made a little chart together for you right now. It's right here, okay? So take a look at this, um, bit. Um, Oh, wow. you see this right here? Can you, can you see this thing? We do. We do. We got it loud. You don't have to adjust anything, Stu. We got you. Okay, you got it. Okay, good. But basically, this is the tariff items over here that we're seeing problem. Bananas come from Costa Rica, pineapples, you know, Costa Rica, Peru again. Um, we have wines and champagne from Europe right now, those are all tariffs. You know, so a lot of these are small suppliers. I mean, obviously, bananas isn't that big. We've got a 10% increase in tariffs. We've split it with the importer. So, um, we're eating 5%, our family is eating 5%. These are the items that keep us alive over here. We have avocados. There's no tariff on them, salmon, there's no tariff. You know, you have beef right now, which is done tariff, but as I said, it's bumped up a little bit because of our herd sizes. And lobsters here, we used to ship, I think the United States shipped 80 million pounds a year to China and with those high tariffs, we're getting the benefit in the United States of ample supply of lobsters, the price is going down a little bit. Same with grapes right now, out in California, we brought them onto our soil in the United States, and the same thing it has to do with melons, they're throwing them down in Georgia right now, which are beautiful. So, it's a good time for us because the local produce and the local fruits and vegetables are coming online. I can't do anything about pineapples and bananas because we don't deal with them in the United States. Uh-huh. Yeah. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
22-05-2025
- Business
- Bloomberg
Stew Leonard on Why Salmon and Egg Prices Are Falling
Grocery stores across the country are having to wrestle with the impact of President Trump's tariffs. Stew Leonard Jr, the CEO of Connecticut-based supermarket Stew Leonard's - says his local farmers are jumping with joy right now. He joined Bloomberg Open Interest with the latest from the produce aisle. (Source: Bloomberg)
Yahoo
12-02-2025
- Business
- Yahoo
Scrambled egg market leaves prices at an all-time high
NEWINGTON, Conn. (WTNH) — Egg prices show no signs of coming down. The avian flu keeps spreading, killing entire commercial flocks. The Stew Leonard's chain is finally joining some other stores in limiting how many eggs each customer can buy. 'It's been a struggle to get eggs,' Craig Makowski, the grocery and dairy manager in the Newington store said. 'My orders are basically cut a third every week of what I really need.' The limit is now four cartons per customer per visit. A nationwide outbreak of avian flu has forced the slaughter of millions of chickens. As egg prices continue to soar, grocers like Trader Joe's limit how many cartons customers can buy 'It makes it very difficult We try our best to have eggs to sell to our customers every single week,' Makowski said. 'We're on top of it. We work very closely with the egg company. They're in a very good partnership with us.' If you know Stew Leonard's and their ads, you know at Thanksgiving, Stew Leonard Jr. is talking about their turkey farm. At Christmas time, he's talking about the Christmas tree farm. It turns out they have their own egg supplier, as well. It's in Pennsylvania Amish country, and Makowski actually visited there with Stew Leonard, Jr. 'A hen came flying off and landed right on Stew,' Makowski remembered. 'It was actually the picture on our egg cartons. So, I happened to be a part of it when that happened, so it was actually a very fun day.' What is not so fun is having to raise prices because the supply is so low. The store has to charge more, and customers have to pay. 'What am I going to do now, not buy it? So I don't really pay attention to the prices of stuff like that, to be honest,' said Naugatuck resident Joe Cruz, shopping with his young son. 'What are we going to do, not do that?' Unfortunately, it looks like the egg market is going to remain scrambled for a while. 'We're hoping supply gets better and things get closer back to normal, but as far as right now, I don't see any changes in the market,' Makowski said. With buying limits, they hope to at least keep the shelves stocked for their customers. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
CBS News
08-02-2025
- Entertainment
- CBS News
Taylor Swift and Travis Kelce lookalike contest held at New Jersey supermarket
CLIFTON, N.J. — A New Jersey supermarket held a Taylor Swift and Travis Kelce lookalike contest Friday to celebrate the Super Bowl. The Stew Leonard's location on Allwood Road in Clifton, Passaic County hosted the "Philly Fever" themed event. Kelce and the Kansas City Chiefs will take on the Philadelphia Eagles at the Super Bowl this Sunday. "Every year at Stew Leonard's, what we try to do is figure out how do we do something fun at the Super Bowl?" Stew Leonard's President and CEO Stew Leonard Jr. said. "So we were talking, what can we do sort of fun? Brittney here said, I got an idea. Let's have a Taylor Swift and Travis Kelce lookalike." Attendees received free hoagies and Philly cheesesteaks. According to the supermarket chain, the Philadelphia Eagles' appearance in this year's Super Bowl has led to a boost in business for bars, restaurants and supermarkets in the Garden State. Contest winners were awarded a $500 gift card. Last year, one location of the supermarket chain .
