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Nike’s ‘Why do it?’ campaign has a Gen Z twist—but branding experts are skeptical, saying it messes with one of the most iconic taglines in history

2026-03-20 03:48:09 By Emily Jones

Nike just added to its legendary “Just do it” campaignwith a Gen Z twist, launching “Why do it?” to resonate with young athletes’ tendency to question tradition and seek authenticity and purpose. Experts are split: Some say the refresh smartly connects with a questioning generation, while others warn it risks diluting one of the most valuable and timeless brand assets in marketing history.

Nearly 40 years ago, Nike introduced its iconic “Just do it” slogan, which ultimately fueled one of the most successful and influential marketing campaigns in U.S. history. It launched with a series of TV ads featuring athletes of all ages and abilities, and resonated with customers for its simplicity and authenticity. Since then, it’s been one of the most recognizable slogans for an American business.

Why Gen Z asks why

While Nike didn’t specify a particular target generation, the campaign’s tone speaks to Gen Z’s less accepting stance on the status quo.

In fact, there is support for the idea that Gen Z is especially prone to a questioning attitude. Stanford research scholar Roberta Katz argued in 2022 that the younger generation is truly internet-native and developed an “early facility with powerful digital tools” that allowed them to fact-check their situation on a rolling basis. This yielded a “pragmatic” outlook and a set of values that emphasize direct communication, authenticity, and relevance.

Other studies of Gen Z found similar results, with EY dubbing them the “pragmatic generation” in a worldwide survey of 10,000 young adults across 10 countries. Authors Marcie Merriman and Zak Dychtwald wrote earlier this year that Gen Z has a “reasoned skepticism” around “life’s traditional milestones.”

Some educators are seeing this attitude at public schools. Marlo Loria, director of career and technical education at Mesa Public Schools in Arizona, toldFortunethat “our youth want to know why. Why do I need to go to college? Why do I want to get in debt? Why do I want to do these things?”

When she begins answering these many questions, she finds, “They want to know why: How is it connected to my purpose, what I’m interested in? How is it going to help me get to [my career goals]?”

Critics ask why

Like almost any major campaign, Nike’s new slogan got mixed reviews from marketing and branding experts as well as customers. Some say Nike “nailed it” and that it’s “the perfect rebrand for a generation that no longer follows commands [and] is looking for something more.”

Katya Varbanova, brand marketing expert and CEO of Viral Marketing Stars, toldFortuneit’s likely Nike felt the need to make a change owing to data, trends, and internal conversations. She said her initial reaction is that is Nike moving from being a “hero archetype” brand, meaning all about excellence through adversity, to representing an “explorer archetype,” meaning it’s appealing to people seeking self-knowledge and meaning.

“But the shift is definitely not as extreme,” Varbanova said. “But it’s bold enough that it will create conversations without destroying the brand.”

Others haven’t been as impressed. Oana Leonte, founder of global brand strategy company Unmtchd, wrote on LinkedIn that while the new campaign is “cool, fresh, and culturally aligned,” the “Just do it” campaign is more than a tagline: “It’s one of the most valuable brand assets in history.

“When you’ve got an asset that transcends campaigns, generations, and even entire industries … you don’t dilute it. You protect it,” Leonte wrote. “Nike didn’t become Nike because of new slogans every five years. They became Nike because ‘Just do it’ is timeless, universal, and instantly recognizable. It’s the brand’s North Star.”

Critics argue Nike’s new campaign might confuse the brand’s identity for older consumers who have a strong attachment to “Just do it.” But Varbanova said the original slogan is still part of the brand’s identity.

“To me, Nike believes that gaining relevancy with the younger generation, which is afraid of failure, will bring more brand equity in the long run with the right people,” she said. “Nike’s new slogan feels like a balance between history and the modern days.”

Plus, Varbanova pointed out, all the conversation the new slogan has sparked is the “biggest sign of relevancy there is.”

Fortune Brainstorm AIreturns to San Francisco Dec. 8–9 to convene the smartest people we know—technologists, entrepreneurs, Fortune Global 500 executives, investors, policymakers, and the brilliant minds in between—to explore and interrogate the most pressing questions about AI at another pivotal moment. Register here.

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Campbell’s gets a Gen X makeover — 42-year-old fashion exec joins her family at $9 billion canned-soup-and-snacks giant

The great-granddaughter of the inventor of condensed soup has joined the famat Campbell’s, the company announced this week. The daughter of late billionaire Campbell’s heiress Mary Alice Dorrance Malone will serve on the board following her mother’s death last month. The Campbell’s Company on Friday announced it had elected 42-year-old luxury fashion entrepreneur Mary Alice Dorrance Malone Jr. to its board, continuing a family legacy that has spanned more than a century. Recommended VideoMalone Jr. is filling a board seat at the Fortune 500 company that her mother, with whom she shares the name Mary Alice Dorrance Malone, held for 35 years before passing away in June 2025 at the age of 75. The billionaire was Campbell’s largest shareholder and the longest-tenured member of the board, at one point even fending off an activist attack from Daniel Loeb’s hedge fund. Malone Jr. is also the great-granddaughter of Dr. John T. Dorrance, who invented condensed soup and served as president of the company from 1914 to 1930. Her grandfather, John T. Dorrance Jr., chaired Campbell’s from 1962 to 1984. Other members of Malone Jr.’s family including Bennett Dorrance Jr. and Archbold D. van Beuren also serve on the board. Collectively, the Dorrance family holds more than 23% of the company, andForbescounts the family as among America’s richest, with a net worth valued at $17 billion. However, Malone Jr.’s appointment comes at a pivotal time for Campbell’s. The company’s stock price has dropped more than 25% year to date. It renamed itself from “Campbell Soup Company” to The Campbell’s Company in November 2024 to better reflect its other standout brands which include Cape Cod, Goldfish, Kettle Brand, Pepperidge Farm, Swanson, and V8. In recent years, the company has shifted its portfolio mix with total sales focused more on revenues from snacks and brands such as Rao’s rather than core soup operations.The board executed a CEO transition at the start of the year. Mick Beekhuizen, another Gen Xer at age 48, took the role effective in February. Malone Jr. brings with her nearly 20 years in the fashion business, having founded luxury shoe line Malone Souliers in 2014, where she serves as chief brand director. The line’s iconic “Maurene” leather mule retails for more than $600 and is handcrafted in Italy. The company has also partnered with Netflix seriesEmily in Parisand Bridgerton, according to its website. In a statement, Campbell’s board chair Keith McLoughlin welcomed her to the team.“Mary Alice’s unique blend of creative, analytical and entrepreneurial experience and deep appreciation of Campbell’s history will be an asset to the Board and the company,” said McLouglin. Join us at the Fortune Workplace Innovation SummitMay 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.

Krispy Kreme will give you a free doughnut in August—if you’re wearing the right shoes

Krispy Kreme and Crocs are teaming up to introduce a doughnut-inspired pair of shoes.The owners of that footwear will get a free doughnut on Aug. 9.It’s pretty easy, if you’re patient, to get a free doughnut from Krispy Kreme. The company lures in customers regularly with promotions for holidays and special events. But if you need a mouthful of that glorious glazed fried dough now, there’s another way to get a freebie: Buy some Crocs.The doughnut chain and the footwear company have teamed up to offer a limited-edition pair of Crocs inspired by the company’s glazed offering. They’ll go on sale Aug. 5 (packaged in a Krispy Kreme box). And if you strut into any Krispy Kreme location wearing them on Aug. 9, you’ll get a free doughnut.The Crocs come equipped with interchangeable chocolate and strawberry icing dipped toe caps. Also available will be a five pack of Jibbitz charms, which include the Krispy Kreme sign, a hat with the company logo, and several doughnut varieties.To get your hands on a pair, head to participating Krispy Kreme locations on Aug. 4 and place an order or scan the Crocs QR code that will be on display. (You can learn if your local store is participating in the sale at this website.)“At Crocs, we’ve always believed in comfort you can customize—and now, with Krispy Kreme, we’re serving up style that’s glazed with personality and sprinkled with style,” Terence Reilly, chief brand officer for Crocs, said in a statement. “Because when it comes to self-expression, we ‘doughnut’ hold back.”It’s not just a shoe deal. To mark the occasion, Krispy Kreme will offer a special dozen made up of the company’s original glazed, chocolate iced with sprinkles, and strawberry iced with sprinkles. That collection of treats will be available from Aug. 4 to 10.So how much will the Krispy Kreme Crocs cost? Good question. The companies did not announce a price.Join us at the Fortune Workplace Innovation SummitMay 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.

Toy shortages this holiday shopping season are an ‘absolute inevitability’ thanks to tariffs, manufacturing CEO says

This holiday season, toy shortages are an “absolute inevitability,” according to Jay Foreman, CEO of Florida-based toy manufacturer Basic Fun.Recommended VideoA combination of tariff-induced production cuts earlier this year and cautious purchasing behavior from retailers could create a scenario where the most sought-after toys are unavailable, Foreman told Retail Brew.“The consumer is going to see empty shelves,” he said. “People are going to be chasing merchandise, at least the merchandise they want.”That last word is key: want. Unlike toilet paper and baby formula, which experienced shortages during the height of the Covid-19 pandemic, toys are a discretionary purchase subject to the whims of trend-seeking consumers. And when it comes to keeping shelves stocked, ordering the right item is as important as ordering the right amount.“It’s not like there won’t be toys on the shelves, but I think those toys are going to be a much lower selection and assortment,” Greg Ahearn, CEO of The Toy Association and former chief marketing officer at Toys ‘R’ Us, said. “And I think the quantity of toys backing up those products on the shelves are going to be low.”This could mean a holiday season with less variety overall and shortages of the most in-demand products—a lethal combo for toy manufacturers that even in a regular year have to make a bet on what consumers are going to want come Q4.“You don’t really know what the sales velocities are going to be until you get into late September, early October, where you’re getting early reads on things, but if you’re going to chase it, you’ve got to make the decision now, literally in July–August, to get that ramped up last bit of inventory,” Ahearn said. “It’s all future betting.”Ripple effects: But future betting is even more difficult when the global trade environment is changing month to month.Ahearn said the current difficulties go back to April, when President Donald Trump announced a 145% tariff on Chinese imports. While that number has since settled on 30%, pending further trade negotiations, the spike in import costs caused many toy manufacturers to power down their production lines.“The entire industry was on pause for 60 days of prime manufacturing,” he said. “There’s only a certain amount of product that you could force through a supply chain when you’ve missed about 60 days of manufacturing.”Now manufacturers are playing catch-up, but they’re doing so in a highly uncertain economic climate, making it so many small to mid-sized companies are hesitant to experiment with new product lines, according to Ahearn.No extras: Unlike many toymakers though, Basic Fun kept its production lines rolling. “I’d rather go out of business with a warehouse full of merchandise or a factory full of merchandise than go out of business because I have nothing to sell,” Foreman said.The challenge for Basic Fun is instead hesitancy on the part of retailers, who Foreman predicts are not going to “gamble on extra inventory,” in part because “they’re not feeling overly excited about where the consumer is right now.”In Ahearn’s view, “If you’re a mass retailer, you don’t want to have a significant overhang of inventory within the toy category when you get to December 26.”Instead of ordering ahead of time, Foreman added, retailers could wait to see how the season plays out, then put pressure on vendors to replenish their inventory if consumers surprise them on the upside. This usually wouldn’t be a problem, but pricier imports means manufacturers aren’t in a position to keep extra inventory for this just-in-case scenario.“There’s always going to be stuff to buy, even if the shelves are half empty,” he said. “It’s just, is it going to be anything you really want?”Deconstructing the product: This puts manufacturers in a bind for which there are few easy solutions. One option Basic Fun is considering is what Foreman calls “deconstructing the product to reduce costs where possible.” What that means specifically is cutting back on add-ons like extra packaging or free batteries, which lowers costs but then has the downside of reducing the shelf appeal of the product.What about substituting imports for US-made goods? After all, that is the stated goal of Trump’s trade policy.“There’s really no value in moving out of China,” Foreman said. “They have things that we want and need. We have things that they want and need, and this concept of decoupling is pretty much off the table.”The cost of domestic labor is simply too high, he explained. “There’s no way to be able to set up some of these light industrial manufacturing facilities here in the States, because…if you did, you would have to pay [workers], which would double or triple the cost of the product here,” he said.This report was originally published byRetail Brew.Join us at the Fortune Workplace Innovation SummitMay 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.

Cracker Barrel’s first rebrand in nearly 50 years backfired. The company’s stock lost nearly $100 million after introducing a more minimalist look

Cracker Barrel’s new logo refresh, has sparked major backlash from critics who view it as a loss of tradition and a “woke” move, even briefly wiping nearly $100 million off the company’s market value. While some argue the change erases the brand’s Americana identity and nostalgia, branding experts say the modest update is part of a broader modernization strategy and reflects the tension between preserving tradition and staying relevant.One Americana brand isn’t getting the barrel-of-monkeys response they were hoping for when launching their new logo this week. Recommended VideoCracker Barrel—one of the most iconic restaurant chains in America, deeply rooted in Southern food and hospitality—this week revealed a new look. A tweak to the logo removes the man sitting on a chair and leaning on a barrel, and the font appears to have slightly changed. Photo courtesy Cracker BarrelAnd some people are absolutely outraged, with many going as far to say its new, simplified logo is a signal of Cracker Barrel going woke. “Cracker Barrel didn’t just lose its logo. It lost its soul,” wrote an X user called @DesireeAmerica4, whose bio section reads: “Unapologetically America First. Igniting debate. Standing tall for the everyday American.”“This isn’t modernization. It’s extermination of Americana, of warmth, of memory,” she continued. “Congratulations, Cracker Barrel. You’re now Woke Barrel. Nobody asked for this.”Cracker Barrel lost nearly $100 million in value in trading on Thursday. The stock slightly rebounded Friday, up about 0.25% in the late afternoon.Cracker Barrel didn’t immediately respond toFortune’s request for comment. The new logo is all part of CEO Julie Felss Masino’s turnaround plan for the restaurant. She said last year the chain wasn’t “as relevant as we once were,” and announced plans to update its menu and eateries. The new logo is “now rooted even more closely to the iconic barrel shape and word mark that started it all,” according to the company. “On the surface, it’s a modest refresh. But when a brand is built on tradition, even a small design change can feel like a cultural shift,” Evan Nierman, founder and CEO at crisis communications firm Red Banyan, toldFortune. “It touched a nerve because it challenged what some customers felt was sacred about Cracker Barrel.”Is the Cracker Barrel rebrand really that big of a deal?Cracker Barrel’s rebrand has really struck a chord with some people, particularly those who subscribe to a MAGA-leaning lifestyle. They argue it rids the brand of its deep Southern heritage and that the brand has become too sterile. One TikTok user satirically said in regards to the new Cracker Barrel logo: “I don’t want this woke crap. What DEI hire made this logo?”Steak N’ Shake even chimed in on the logo change and reshared the X post from @DesireeAmerica4 with a comment in a style mimicking President Donald Trump’s Truth Social posts: “Fire the CEO! Thank you for your attention to this matter!” While Cracker Barrel “took a stab at modernizing and showing cultural relevance,” Mary Delano, chief marketing officer at ad agency Moosylvania, toldFortune, it lost its old-fashioned identity. “This could potentially offend the restaurant’s core fans, who see the chain’s rocking chairs, comfort food and nostalgia as the elements that make Cracker Barrel feel like that home away from home,” said Delano, who’s helped bring iconic brands like Pink Whitney to market.Although the new logo was “more of a tweak than a total overhaul,” said Tenyse Williams, digital marketing adjunct instructor at George Washington University and the University of Central Florida, it feels bigger because of the political climate we’re in.“Cracker Barrel is nostalgia for many, especially customers in the South and Midwest who feel ownership and pride over the brand,” Williams toldFortune. “For a brand that hasn’t changed its logo since 1977, even small changes to a symbol so tied to Americana can feel magnified.”Nierman argued, however, Cracker Barrel’s new logo doesn’t erase its legacy. Rather it softens its image. “Cracker Barrel has long leaned into a version of Americana that felt frozen in time,” he said. “This update suggests the brand is finally acknowledging that the world around it is changing, and it wants to be part of that future.”Join us at the Fortune Workplace Innovation SummitMay 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.

Chipotle CEO says there’s ‘no smoking gun’ for burrito sales dip—but he wants customers to give the chain more ‘credit’ for affordable prices

Chipotle CEO Scott Boatwright said the burrito chainneeds to work on selling itself as a bargain brand for jittery, budget-strapped consumers. The company reported on Wednesday a 4% same-store quarterly sales decline and cut its guidance for the rest of the year, citing poor consumer sentiment and economic uncertainty. As more Americans grow anxious about the economy and start pulling back on eating out, CEO Scott Boatwright wants consumers to give Chipotle some more credit for its low prices.Recommended VideoThe Newport Beach, California-based burrito-bowl chain reported sagging earnings Wednesday, including a 4% same-store sales decline and 4.9% dip in quarterly traffic. While Chipotle saw a 3% total revenue increase to $3.1 billion, the company cut its guidance, now expecting flat same-store sales growth for the year compared to its previous prediction of a low single-digit increase.Chipotle CEO Scott Boatwright attributed the rough quarter—Chipotle’s second consecutive sales decline—in part to rocky economic conditions leading consumers to pull back. Chipotle’s same-store sales improved in June, and that’s likely to be the case for July as well, according to the company, but lackluster sales in April and May correlated with “consumer sentiment bottoming around that time.” Boatwright added consumers have seemingly forgotten that Chipotle, compared to its fast-casual rivals, is a bargain.“I don’t think we’re getting credit with the consumer today,” Boatwright told investors on Wednesday. “So what I talked to the team about internally is, How do we better communicate our value proposition and center around the core equities of the brand?”“I think we’ve got to figure out a way we can communicate value for the consumer and showcase the value we are to [quick-service restaurants] and fast-casual,” he added.Boatwright claimed in the earnings presentation Chipotle is 20% to 30% cheaper than comparable fast-casual restaurants. He toldFortunein April the chain wouldn’t increase prices due to tariffs because “it’s unfair to the consumer to pass those costs off…because pricing is permanent.”Changing perceptions of valueThe CEO was firm in attributing Chipotle’s sales slump to external macroeconomic factors, telling investors, “There’s no smoking gun here that says we’ve had a misstep.” However, he said low-income consumers in particular are looking for value when choosing where to dine.“Look no further than what’s going on with our competitors with snack occasions or five-dollar meals, and that’s where the consumer is drifting towards…because of low consumer sentiment.”Indeed, fast-food giants like McDonald’s are continuing to offer meal deals amid softening sales, particularly as these restaurants have seen more traffic from high-income consumers while those on a budget pull away. As Chipotle similarly tries to compete in an environment of cautious consumers, it will need to focus on its public perception and sell itself as an affordable option, according to Raymond James restaurant analyst Brian Vaccaro.“Over the last two years, the industry has gotten more aggressive on value promotions and messaging,” Vaccaro toldFortune. “There are certain brands that have a strong value proposition in the mind of the average consumer. But they didn’t effectively message that, and it caused them to lose some mind share.”Olive Garden suffered this fate in 2024, Vaccaro said, when the fast-casual Italian chain’s parent company Darden Restaurants reported a pull back from customers making less than $75,000. “That could be something that’s happened to Chipotle, where their value almost gets taken for granted a little bit,” Vaccaro said.In March, Olive Garden announced the return of its “buy one, take one” promotion—essentially a buy one, get one free deal—for the first time in five years. The restaurant group attributed a modest earnings beat in June in part to the return of the offer.“Everyone knows Olive Garden is a good value,” Vaccaro said. “But if you’re not reminding the guests of that, they could get distracted and wooed away by all of these value promotions that are floating around.”Join us at the Fortune Workplace Innovation SummitMay 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.

Target foot traffic is still suffering 6 months post-boycott. An industry veteran says the retailer’s problems are bigger than curtailing DEI

Foot traffic at Target fell year over year for the sixth consecutive month in July, and while the slump began the week after the retailer backtracked on its diversity, equity, and inclusion (DEI) efforts, some analysts say the real culprit is that Target is slipping on retail basics.Recommended VideoIn July, foot traffic at Target fell 3.8%, according to Placer.ai. Since announcing it was curtailing DEI on January 24, foot traffic has been down YoY for 25 of the last 27 weeks.While mediaoutlets (including thisone) have linked Target’s traffic losses to it eliminating some DEI initiatives (and the ensuing backlash and a boycott led by Black clergy), Walter Holbrook, an industry veteran whose resume includes 28 years as an executive at Kmart, believes that a bigger issue is Target struggling with the basics.Holbrook makes regular visits to a Target store in Jacksonville, Florida, and said that twice while shopping there on Sundays after church in the last two months, the store’s shopping cart corral was completely empty, something he documented once in a LinkedIn post. For the average consumer, the not-OK corral might have been just an inconvenience, but for Holbrook, a retail standard-bearer, “I could have exploded,” he told Retail Brew.“That’s the fundamentals,” Holbrook said. “If you can’t get that right, you can’t get anything right. If you don’t know that carts need to be kept filled on a Sunday afternoon, you’re in the wrong business.”Over the Fourth of July weekend, Neil Saunders, retail analyst and managing director at GlobalData, visited a Target and posted 15 photos on LinkedIn that documented shelves that were understocked (or completely empty), soiled, and in disarray.Target is “still not getting the basics right,” Saunders wrote in the post. “Fixture after fixture, including lucrative endcaps, are devoid of product. Essentials like kitchen paper are completely out of stock.”While there were “some nice ideas,” including a display with sundae toppings, “these things fall flat if you can’t get the basics right,” Saunders wrote. “Target is still training customers to ask: Why bother coming to the store?”Target did not respond to Retail Brew’s requests for comment about the foot traffic data and reports of issues like poorly stocked shelves.On August 10, the Wall Street Journal reported that about 40% of 260,000 Target employees who completed an internal company survey said they were not confident in the company’s future, a reported decline from a year ago.“While we recognize the hard work and progress under way, we’re not where we want to be,” Target CEO Brian Cornell told the WSJ.Middle ground: Ethan Chernofsky, CMO of Placer.ai, told Retail Brew that one of Target’s strengths is how it has found footing in what he calls the “bifurcation of retail” between luxury and value. Locating mini-stores within Target stores from retailers including Disney, Apple, and Casper creates a shopping environment that serves shoppers who don’t fit neatly in the luxury or value category but rather in the “middle” of both, Chernofsky said.“The ‘middle’ is, ‘I will spend more on the Disney toy for my kid, I will spend more on my iPhone, but I want to save money on socks,” Chernofsky said. “[Target] nailed that for so long, and that was what set them apart and made their growth so unique and special.”But in doing so, Chernofsky added, Target has raised expectations among consumers that they’ll have a more elevated experience than in a typical discount store, and he said his own experience is that the service at Target in the last year has not been as high as before, which he partly attributed to labor shortages faced by all retailers.“Labor shortages are more significant for someone who’s trying to nail that middle area,” Chernofsky said. “For someone who’s super value-oriented”—as opposed to being in that value-luxury middle—“if you’re not getting great service at Five Below, you’re not like, ‘Oh my God, nobody said hi to me.’”Ironically, perhaps, since his company’s data has been widelycited in documenting Target’s foot traffic declines over the last six months, Chernofsky believes the company’s ability to straddle discount and luxury is why it will rebound.“I’m weirdly more bullish about [Target] than I’ve ever been because I think the issues are very fixable,” Chernofsky said. “They live in this place where no one else is existing today, and that’s a really good place to be.”The cart of the deal: Cornell is expected to retire after his contract ends later this year and its board to choose a successor.“This decision by the board for new leadership is the most important decision in years for Target,” Holbrook said, adding that he also admires the retailer even as he’s found the shopping experience there wanting over the last couple years.“The retail industry is better off if we have a strong Target,” Holbrook said. “We need them to counterbalance everything else that’s going on, whether it’s Walmart or Amazon. We need that Target influence of fashion and style in the middle class that they can bring and capturing that aspirational shopper.”A few days ago, on Saturday, August 9, Holbrook sent us a photo he’d snapped at about 11 am at his local Target. The photo was of the store’s shopping cart corral.It contained a single cart.This report was originally published byRetail Brew.Join us at the Fortune Workplace Innovation SummitMay 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.

Panera’s CEO unveiled a comeback plan—and it includes better ingredients like lettuce: ‘No one likes iceberg’

With sales stagnating, Panera Brands CEO Paul Carbone unveiled a bold plan yesterday to win back customers: make everything better.Panera, once considered the gold standard in American fast-casual dining, has fallen behind competitors like Chipotle and Panda Express, with its sales dropping 5% to $6.1 billion last year. Carbone says the goal is to reach $7 billion in annual sales by 2028 behind “Panera RISE,” a new strategy intended to undo the chain’s cost-cutting measures, which he dubbed “death by a thousand paper cuts.”The overhaul includes:Lettuce: Salads will be fully romaine again and no longer include iceberg. “No one likes iceberg,” said Carbone, who also may have been delivering a four-word review of Titanic. Salads will also have eight ingredients instead of the current five.Tomatoes: Starting next year, salads will contain sliced cherry tomatoes (rather than whole ones that were used to save money).Drinks: Frescas and “energy refresher” drinks (which have less caffeine than the ones that resulted in two wrongful death lawsuits) are in the offing.Portions: The WSJ reports that Panera is “beefing up portions” after shrinking its sandwiches.Labor: There will be more workers on hand, and the company is reinvesting in the self-ordering kiosks that haven’t been upgraded in nearly a decade.Zoom out: Panera is also looking to mimic the value offerings at establishments like Chili’s, but lacks appetizer options. “We haven’t cracked the code yet,” Carbone said.—DLThis report was originally published byMorning Brew.

The end of cheap cheesesteaks? Philly shop owner hoping ‘crazy’ beef prices settle after ‘grilling season and all the rest’

Ken Silver knows beef because he knows Philly cheesesteak. He hopes that a summer spike in how much he pays for his restaurant’s main product doesn’t cause heartburn for him or his customers.Recommended VideoSilver, president of Jim’s South St. in Philadelphia, said he might have to raise prices for his popular sandwiches to offset the rising cost of beef or even declare a market price, which is commonly associated with seafood.“I really hate to do that,” said Silver, whose father started the business in 1976.U.S. beef prices have been steadily rising over the past 20 years because the supply of cattle remains tight while beef remains popular.Silver said the price of beef from his supplier now is about $1 more per pound than it was a year ago. And that is on top of a roughly 50% increase when he reopened in 2024 after a fire — “crazy,” as he put it.“Our strategy right now is just absorbing the price and hoping that we see a reduction after the summer months are over, the grilling season and all the rest,” Silver said Wednesday.He said a cheesesteak sandwich at Jim’s South St. costs $13.49, up from $11.49 in 2022, when the restaurant was forced to close for nearly two years due to fire. Cheesesteaks typically are made with thinly sliced beef, cheese and onions, though other toppings are possible, too.For consumers, the average price of a pound of ground beef rose to $6.12 in June, up nearly 12% from a year ago, according to U.S. government data. The average price of all uncooked beef steaks rose 8% to $11.49 per pound.“We’ve taken a hit, profitability-wise, just to maintain what our customers would expect to get when they come to us: a reasonably priced cheesesteak of the best quality they can find,” Silver said.A customer, Bryan Williams, suggested a price hike wouldn’t discourage him from placing an order.“That’s just how things are going lately,” he said. “There’s really nothing that they can do about it.”___White reported from Detroit.Join us at the Fortune Workplace Innovation SummitMay 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.

Cola lovers: PepsiCo has a prebiotic soda in the works for you—and it’s not Poppi

With the buzz around healthy sodas far from fizzling, Pepsi is doubling down on the emerging segment just months after acquiring one of its pioneers, Poppi, by launching a new innovation: Pepsi Prebiotic Cola.Recommended VideoThe product is “one of the largest new innovations in the cola category,” Mark Kirkham, CMO of PepsiCo Beverages US, told Retail Brew. Containing 5 grams of cane sugar, 30 calories, and 3 grams of prebiotic fiber, the new soda is aimed at giving consumers more soda choices, he said, as Pepsi tries to meet demand for more healthy options. It’ll be sold first online in Original Cola and Cherry Vanilla flavors for Black Friday and Cyber Monday, followed by a retail debut in February, priced at a premium to traditional Pepsi, Kirkham said.Poppi, whose acquisition was completed in May, also offers Classic Cola and Cherry Cola flavors with a nearly identical nutritional profile, but Kirkham sees the two as complementary, selling in two separate soda segments that reach different consumer sets.Kirkham broke down the new product, and how it fits into its portfolio alongside Poppi and aligns with Pepsi’s larger beverage innovation strategy.This interview has been lightly edited for length and clarity.Why did Pepsi decide to develop this product?One of the things we wanted to do is address two opportunities. One is the declining cola category. Particularly, we’ve seen occasions drop over time in the core, but especially in diet [soda], and also to look for new ways to deliver more, better-for-you functional ingredients into our core. And obviously this was early days in what has become the modern soda business, and we started working on this well over a year ago.We found…we could get to an amazing-tasting product that is no artificial sweeteners, that’s 5 grams of cane sugar, that’s got the taste of Pepsi…But also it’s got prebiotic fiber…And it’s the kind of ingredient that we’ve seen bringing new consumers into the category. The reality is, no one has that in cola, and obviously super complimentary to Poppi, who do have two cola SKUs, but that’s only 8% of their mix. We feel this is a great opportunity to: one; bring innovation to the traditional cola category; two, compliment this amazing new family member in Poppi—they are the leader in developing the modern soda category; and then three, offer choice. Offering choice to our consumers is the ultimate goal of these innovations…It’s a win-win for the consumer, and it’s a win-win for us.What are your thoughts about how similar those products are?A lot of what makes Poppi so special is it’s been built from the ground up. It always was clean label, natural ingredients. One of the biggest drivers there was always the apple cider vinegar. When you taste their cola, particularly their cherry and their regular cola, it’s a very different flavor profile than, let’s say, traditional cola, like we offer with Pepsi. We felt there are a lot of cola lovers out there that have this certain expectation of a cola flavor, particularly of Pepsi, but they also want alternatives in terms of different sweetener systems, or added benefits, or having lower sugar. Being able to address that part of the market that may not be being addressed through the cola segment within modern soda—that’s where the real opportunity is for us.The prebiotic soda space has been popping off for several years. What instigated the development of this product now?We were just listening to the consumer, and we were seeing the emergence of different segments in the category.This is about Pepsi, and Pepsi delivering a new product to address the consumers of cola, or, in the case of maybe some of the younger consumers who maybe didn’t grow up with cola like I did, right?…We’re bringing them in through the fact that this is only 5 grams of sugar, no artificial sweeteners, that it’s only 30 calories, and the prebiotic fiber gives it a new way to bring in a different audience and a new consumer.We actually think it’s a great opportunity for, let’s say, Gen X female diet cola drinkers. There’s an opportunity to really source from a broader range of consumers. This is not just a pure Gen Z play, which is very much what’s built modern soda. This is a broader play for cola lovers.How are you balancing innovating on the core versus bringing on acquisitions like Poppi?The reality is you have to do both…I like to say “core and more.” The only way you’re really going to drive growth in some of our categories is to really ensure that your core is healthy and that you’re continuing to innovate your core, but at the same time, you cannot miss out on these new and emerging categories, like what we saw in modern soda and Poppi. It’s a balanced approach that you need to take with innovation, but you must make sure that you’re doing both core and more, because we built this amazing brand for over 125 years. We’’ve helped create amazing products through our Diets, through our Zeros, but this next generation of consumer and as the category evolves, there’s opportunities to offer new innovation within the core, and that’s what we’re doing.This report was originally published byRetail Brew.Join us at the Fortune Workplace Innovation SummitMay 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.

The 99-cent AriZona iced tea could be the next victim of Trump’s tariffs

For more than two decades, AriZona’s iconic 99-cent iced tea has shrugged off pandemics, recessions, and supply shocks. Now, President Donald Trump’s new 50% aluminum tariffs could finally crack its unshakable price tag. AriZona Iced Tea uses about 100 million pounds of aluminum for its signature cans, about 20% of which comes from Canada. Founder and chairman Don Vultaggio told theNew York Timesthat unless Trump strikes a deal to lower the new aluminum levy with Canada, the company may be forced to raise prices. “I hate even the thought of it,” Vultaggio toldThe Times.  “It would be a hell of a shame after 30-plus years.”The founder has made headlines for refusing to hike the price of his tea, even as inflation drives the prices of all other goods up. If Vultaggio adjusted the price of AriZona iced tea to match rising input costs, the tea would cost $1.99 today. Yet, the billionaire didn’t see a point. “We’re successful. We’re debt-free. We own everything. Why?,” Vultaggio said in an interview withTodayin June. “Why have people who are having a hard time paying their rent have to pay more for our drink?” Vultaggio has tried other workarounds to save money on aluminum, including downsizing the can from 23 ounces to 22 ounces. Even that decision weighed on him. Now, the founder worries the price of aluminum, which he said has “dramatically bumped up” because of the tariffs, might be the final blow to the 99-cent cans. A test case for U.S. manufacturingAriZona’s predicament could be a test case for what happens when a domestic manufacturer—one that’s nearly fully vertically integrated, even owning the railroad tracks its trains use to ship sugar daily—gets punished for importing some of its materials. PNC’s Chief Economist Augustine Faucher toldFortunehe thought the aluminum tariffs were unnecessary and inefficient. Canada, which has access to abundant and inexpensive hydroelectric power, is one of the world’s leaders in aluminum production. Given the higher input costs of making aluminum in the U.S., importing it will always be cheaper than producing it domestically, he said.“It’s going to be difficult to completely avoid tariffs, and that’s likely to contribute to higher consumer inflation in the near term as these companies pass along some of their higher input prices,” he said. Faucher said companies like AriZona have few ways to blunt the impact. Unlike industries with slow turnover, which can stock up on inventory before the tariffs hit, beverage makers move product quickly. That means the aluminum tariffs will immediately hit the company’s bottom line.All the price pain comes with very little gain, Faucher noted. Companies like AriZona, which imports some aluminum but produces the rest of the product domestically, might decide to just package the product overseas to avoid the duty. “The idea is to help American manufacturers, but this hurts American manufacturers who use these types of imported inputs,” Faucher said. The economist said he doesn’t see a need for the United States to have a strong domestic aluminum industry at all. “It makes sense over the long-run to specialize in areas where the United States does well,” Faucher said. “But given the energy costs associated with aluminum production and getting bauxite and all that kind of stuff, it just doesn’t make sense for the industry to be located in the United States.” Join us at the Fortune Workplace Innovation SummitMay 19–20, 2026, in Atlanta. The next era of workplace innovation is here—and the old playbook is being rewritten. At this exclusive, high-energy event, the world’s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now.