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Speaker 1: Global business news twenty four hours a day. If Bloomberg

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Speaker 1: This is a Bloomberg Business Flash shrom Bloomberg World Headquarters.

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Speaker 1: I'm Charlie. Held up the DAL the SMP NEZDAC hall

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Speaker 1: declining forty two minutes to go ahead of the close.

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Speaker 1: We're brought to by a sector spidery t F s

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Speaker 1: Y by a single stock. When you can invest in

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Speaker 1: the entire sector, visit sector sp d r S dot

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Speaker 1: com or call sector e t F. Now over to

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Speaker 1: the first Word Breaking news desk for today's afternoon call,

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Speaker 1: and here is fil Maloney. Good afternoon, Charlie manu has.

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Speaker 1: Averages are down from their morning peaks, with the Dow

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Speaker 1: currently lower by twenty four points, sp drop a point,

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Speaker 1: NAZAC is lower by two at one point, the DAALO

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Speaker 1: is higher by ninety points. The latest UK pull from

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Speaker 1: ten S shows forty three percent leave remain back in

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Speaker 1: the US small cap six hundreds down to point and

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Speaker 1: the US ten yield at one point six nine percent.

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Speaker 1: Six out of tennis B sectors are higher, led by

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Speaker 1: gains in healthcare, telecom and the materials, utilities, energy and technology,

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Speaker 1: fell down. Transports drop thirty five points after earnings related

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Speaker 1: losses from Federal Express, NASA. Biotechs outperformed, gaining one point

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Speaker 1: eight percent, and the vix is higher by nine percent.

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Speaker 1: Down leaders included Mark DuPont and Walmart, while McDonald's, IBM

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Speaker 1: and Chevron led to the downside. Tesla fell nine percent

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Speaker 1: after offering to buy a solar city. Adobe dropped five

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Speaker 1: point three percent after its results, while healthcare stocks surged

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Speaker 1: into day after the Usaid Medicare payment panel was not

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Speaker 1: triggered this year. After the Bell Tonight look for earnings

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Speaker 1: from Barnes and Noble, that Beth and Beyond and Red

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Speaker 1: Hat Live from the first breaking newsdask gone, Bill Maloney, Charlotte, alrighty,

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Speaker 1: thank you very much. Film to hear live breaking news

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Speaker 1: over your Bloomberg type squawk s q U A w

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Speaker 1: K on your terminal. I'm Charlie Pelton. That's a Bloomberg

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Speaker 1: business flash. This is taking stock with Kathleen Hayes and

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Speaker 1: Pim Box on Bloomberg Radio. Burger King. We have Burger

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Speaker 1: King to thank for something called mac and Cheetos, and

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Speaker 1: I guess it's basically what you think it might be.

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Speaker 1: Crunchy cheetos stuffed with oozy macaroni and cheese as a snack. Well,

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Speaker 1: one company that I don't think we're gonna be seeing

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Speaker 1: mac and cheetos from is Late July Snacks. And here

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Speaker 1: to tell us all about the snack business is Nicole

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Speaker 1: Bernard Dawes. She is the chief executive and the co

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Speaker 1: founder of Late July Snacks and of course based in Boston.

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Speaker 1: I want to thank you very much home to Boston's

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Speaker 1: our own Bloomberg twelve hundred in Boston and can be

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Speaker 1: followed on Twitter at Late July Organic. Thank you for

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Speaker 1: being here. Oh, thank you so much for having me.

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Speaker 1: All Right, so I don't even have to really ask

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Speaker 1: a question here, but because we've got organic in the

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Speaker 1: Twitter handle. Um, you come from a line of snack

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Speaker 1: food entrepreneurs, why don't you just give us the you know,

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Speaker 1: the elevator pitch here. Sure, my mom had a natural

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Speaker 1: food store in the seventies and in night my father

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Speaker 1: started cape Ca Potato chips. So I think I'm the

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Speaker 1: product of a mom with a natural food store and

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Speaker 1: a father with the potato chip company. You end up

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Speaker 1: with a daughter with an organics that company that is it.

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Speaker 1: I love it like the kid is the morph of

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Speaker 1: the mom and dad. You studied economics in college, you

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Speaker 1: got into food and beverage consulting. Given your background in

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Speaker 1: the food industry and retail. Then you're a mom and

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Speaker 1: you wanted some organic saltine crackers. Why did you want

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Speaker 1: these crackers so badly and why couldn't you find them? Well,

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Speaker 1: that's an excellent question. That's exactly what I thought. I

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Speaker 1: lived in New York City at the time, and I

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Speaker 1: was newly pregnant. I wanted organic saltines, and I think

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Speaker 1: on my block there was five different natural food stores,

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Speaker 1: and I went to all five and couldn't find them,

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Speaker 1: and I thought, here it is. At the time, it

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Speaker 1: was two thousand one, the organic industry had evolved quite

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Speaker 1: a bit from my mom's nine seventies natural food store,

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Speaker 1: and yet I still couldn't find what I was looking for.

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Speaker 1: And that's when it occurred to me that I had

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Speaker 1: stumbled upon an opportunity. All right, you stumble upon an opportunity.

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Speaker 1: There's a big gap between having an idea and actually

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Speaker 1: getting the product on the shelf. Tell us a little

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Speaker 1: bit about that journey. There is a big gap between

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Speaker 1: those two things for sure, Um, you know it. For me,

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Speaker 1: I had the obvious advantage of watching my father do

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Speaker 1: it a couple of times. Actually, in addition to Cape

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Speaker 1: Competator ships, you also had a crouton company at one point,

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Speaker 1: and he also sold Cape put chips and bought it

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Speaker 1: back subsequently sold it again. So I got to see

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Speaker 1: this process a couple of times. I knew. You know,

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Speaker 1: it took quite a bit to get from idea to

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Speaker 1: first selling a product, but you first have to create

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Speaker 1: the product. So that was step one for me was

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Speaker 1: coming up with a product that actually thought was worth selling. Well.

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Speaker 1: You know, and I understand that because you experiment with

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Speaker 1: stuff at home when you think it's gonna be straightforward,

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Speaker 1: but once you start changing sort traditional agreements, ingredients, I

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Speaker 1: should say, it becomes much harder to do. Well, you know,

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Speaker 1: your growth has been astounding. You know you're selling millions.

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Speaker 1: Now what is a famillion? Yet that's what we're on

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Speaker 1: track to surpass that? Yes? Yes, so but SO takes

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Speaker 1: the next step. So you get the idea, what what

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Speaker 1: did how did you get from here to there? Did

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Speaker 1: your family help you with financing? Uh? Did you? I

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Speaker 1: mean I think so I think manufacturing facilities, a retail distribution,

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Speaker 1: that's a lot. You know, there were there were quite

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Speaker 1: a few things that happened early on UM one. I

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Speaker 1: once I had these products that I thought were actually

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Speaker 1: good enough to sell, I coaxed my father out of

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Speaker 1: his retirement to come join me and UM. He and

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Speaker 1: I worked side by side for the first It took

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Speaker 1: us about two years from you know, idea to actually

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Speaker 1: creating a product that with a package that could sell

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Speaker 1: in a retail establishment. We had to you know, commercialize

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Speaker 1: the formulas, find a factory that could make them. We

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Speaker 1: had to start the actual company, higher employees. Uh. And

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Speaker 1: that all took from about two thousand one two. We

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Speaker 1: hit shelves in two thousand three. I gotta ask you

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Speaker 1: about tortilla chips. That was a big move. It was

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Speaker 1: a big risky move. Actually we UM you know, we

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Speaker 1: we had some great growth at early years. And I

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Speaker 1: have personally wanted to make a tortia chip. I think

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Speaker 1: my entire life. I tried to convince my father at

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Speaker 1: Cape Cut Chips to make tortilla chips, and he told

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Speaker 1: me more than once, maybe a thousand times. You know,

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Speaker 1: we're a potato chip company. We will never make a

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Speaker 1: tortilla chip. And you know, I think he kept that

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Speaker 1: mantra even at late July. I still would bring it

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Speaker 1: up from time to time. And unfortunately my father passed

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Speaker 1: away and O nine and you know the the for me,

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Speaker 1: that was the last person preventing us from going into

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Speaker 1: Tortia chips. So we actually launched her Tia chips in

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Speaker 1: and you know, everyone at the company knows that made us,

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Speaker 1: you know, the overnight success seven years in the making.

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Speaker 1: So from you and your dad, one word of advice

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Speaker 1: for somebody once it's got a great idea and wants

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Speaker 1: it started up. I think the most important thing I

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Speaker 1: can tell somebody else is you have to have almost

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Speaker 1: a delusional optimism and your ability to succeed. All right. Well,

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Speaker 1: obviously in your case, Nicole Bernard Dawes, it was not delusional.

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Speaker 1: It worked, thankfully, Yes, it did. Must be one of

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Speaker 1: the many things you've got for your dad. It did.

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Speaker 1: Sure was very lucky. CEO and founder late July Snacks.

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Speaker 1: She's based in Boston, joining us in New York City

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Speaker 1: to daily thank her so very much for coming to

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Speaker 1: our Bloomberg studio. I'm Kathleen Hay's along with pim Fox,

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Speaker 1: This is taking Stock on Bloomberg Radio. When We're taking

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Speaker 1: Stock is brought to by the accountants and advisors at

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