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Surge in demand sees Robin Hood flour running out of its iconic yellow bags – CBC.ca

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Feverish demand for baking has one of the biggest sellers of flour in the country saying it is having trouble finding enough of its iconic yellow bags to put it in.

As millions of people across the country shelter in place to slow the spread of the coronavirus, there has been a surge in the popularity of baking at home, both for food and to pass the time. Early on, store shelves were cleared out of their flour. Anecdotal reports suggest flour has rivalled toilet paper as one of the hardest items to find.

But now it’s not so much the flour that’s in short supply, it’s the packaging.

Robin Hood typically sells more flour in Canada than just about anyone, and the company confirms to CBC News that it has seen increased demand.

“We have noticed an upswing,” said Ray Hancart of Smucker Foods of Canada, which owns the Robin Hood brand. “Particularly at the outset, when people were stocking up on products they felt they would need around the house, [but] we are still seeing elevated numbers.”

While Robin Hood says it has plenty of product, it has run out of bags to sell it in, which is why the company will temporarily start selling its product in some stores in nondescript white bags.

“We are experiencing some delays with our normal packaging so we quickly shifted to this temporary packaging,” Hancart said.

“We have made a temporary switch to white and brown bags from our traditional yellow bags to make sure we could replenish quickly.”

Hancart added that most of the white bags will be found in Western Canada.

While the bags may look different, Hancart stresses the flour inside is the exact same product it always was — and the company is in no danger of running out of flour anytime soon.

“Consumers should rest assured there’s nothing else changed about the product,” he said. “We are working as quickly as possible to get flour back on store shelves.”

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Netflix’s subscriber growth slows as gains from password-sharing crackdown subside

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Netflix on Thursday reported that its subscriber growth slowed dramatically during the summer, a sign the huge gains from the video-streaming service’s crackdown on freeloading viewers is tapering off.

The 5.1 million subscribers that Netflix added during the July-September period represented a 42% decline from the total gained during the same time last year. Even so, the company’s revenue and profit rose at a faster pace than analysts had projected, according to FactSet Research.

Netflix ended September with 282.7 million worldwide subscribers — far more than any other streaming service.

The Los Gatos, California, company earned $2.36 billion, or $5.40 per share, a 41% increase from the same time last year. Revenue climbed 15% from a year ago to $9.82 billion. Netflix management predicted the company’s revenue will rise at the same 15% year-over-year pace during the October-December period, slightly than better than analysts have been expecting.

The strong financial performance in the past quarter coupled with the upbeat forecast eclipsed any worries about slowing subscriber growth. Netflix’s stock price surged nearly 4% in extended trading after the numbers came out, building upon a more than 40% increase in the company’s shares so far this year.

The past quarter’s subscriber gains were the lowest posted in any three-month period since the beginning of last year. That drop-off indicates Netflix is shifting to a new phase after reaping the benefits from a ban on the once-rampant practice of sharing account passwords that enabled an estimated 100 million people watch its popular service without paying for it.

The crackdown, triggered by a rare loss of subscribers coming out of the pandemic in 2022, helped Netflix add 57 million subscribers from June 2022 through this June — an average of more than 7 million per quarter, while many of its industry rivals have been struggling as households curbed their discretionary spending.

Netflix’s gains also were propelled by a low-priced version of its service that included commercials for the first time in its history. The company still is only getting a small fraction of its revenue from the 2-year-old advertising push, but Netflix is intensifying its focus on that segment of its business to help boost its profits.

In a letter to shareholder, Netflix reiterated previous cautionary notes about its expansion into advertising, though the low-priced option including commercials has become its fastest growing segment.

“We have much more work to do improving our offering for advertisers, which will be a priority over the next few years,” Netflix management wrote in the letter.

As part of its evolution, Netflix has been increasingly supplementing its lineup of scripted TV series and movies with live programming, such as a Labor Day spectacle featuring renowned glutton Joey Chestnut setting a world record for gorging on hot dogs in a showdown with his longtime nemesis Takeru Kobayashi.

Netflix will be trying to attract more viewer during the current quarter with a Nov. 15 fight pitting former heavyweight champion Mike Tyson against Jake Paul, a YouTube sensation turned boxer, and two National Football League games on Christmas Day.

The Canadian Press. All rights reserved.

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