Hey Snackers,
Gmail can now let someone know you're on vacation before they click send. Where was this all summer @Google?
Word that Hong Kong will withdraw the controversial bill that triggered 13 weeks of protests pumped up markets worldwide on Wednesday.
The force isn't as strong with this one... Slack's mission to destroy email with zippy messaging had a rough quarter. 100K companies pay Slack to manage non-verbal inter-office messaging and only 5K came on board in the last 3 months. That's slower growth, so shares tanked 14% on its 1st earnings since going public in June.
It's very much unprofitable... but it's profitably dominating your life. The average Slack user is actively slacking 90 minutes per day and has it open for 9 hours of work/life imbalance. Here's why growth lost its mojo:
For Slack to win, Microsoft must lose... Microsoft is the Tyrian Lannister of software (it thinks and it knows things). It finds ways to survive. It owns office email with Outlook, and is adapting with "Teams," a nimble messaging service that mimics Slack's qualities. Microsoft's Slack competitor is an easier sell to Larry-from-procurement, who's been Microsoft-loyal for decades. Plus, Teams is sneakily bigger: 13M daily users to Slack's 10M.
FYI: This NYT guide to stopping Slack from taking over your life.
Abercrombie's little cousin... American Eagle doesn't fill its stores with cologne and abs — Instead, the retailer is adding CBD-infused lotions to its button-downs next month. In the meantime, shares plummeted 12% Wednesday because of the following contradiction in last quarter's performance:
Bralettes experienced "renewed excitement"... American Eagle's words. It's talking about its Aerie brand's signature anti-push-up bra. Aerie's Photoshop-less models are (actually) stealing market share from Victoria's Secret's ultra-sexualized ones. Now AE is opening 40 standalone Aerie stores and expanding the brand from underwear to yoga pants.
Spinoff brands are the new black... While American Eagle's style stays grounded, its Aerie line has taken off. These spinoff brands let the parent brand catch trends, try-on new looks, take risks, and scare corporate. But your Snacks team is noticing key apparel spinoff brands outpacing their parents. Check your closet for examples: