Introduction to Steph Curry’s Business Ventures

Steph Curry is one of the greatest basketball players ever, and judging by his company’s financials, he’s off to a pretty good start in the business world. Curry is the CEO of Thirty Ink, a house-of-brands conglomerate that owns companies including Unanimous Media, Gentleman’s Cut bourbon, and Underrated Golf and Basketball.

Thirty Ink’s Financial Performance

Thirty Ink generated $173.5 million in revenue in 2024, the company told CNBC Sport. The highest percentage of that revenue comes from its partnership with Under Armour, where Curry is president of Curry Brand, the company’s basketball and golf footwear and apparel brand. As part of a 2023 deal, the 11-time NBA All-Star was given 8.8 million Under Armour common shares, valued at $75 million at the time, in addition to other awards and incentives.

Business Structure and Profitability

While Thirty Ink incurs annual expenses for delivering on Curry’s name, image, and likeness, as well as related marketing around the brand, it doesn’t rack up traditional bottom-line operational costs to fuel those sales, helping contribute to a gaudy $144 million in earnings before interest, taxes, depreciation, and amortization last year, the company said. Still, every business in Curry’s Thirty Ink portfolio is profitable, said Suresh Singh, the company’s secretary-chairman.

Unanimous Media

The company’s mission is to "elevate the under." That manifests itself differently depending on the business line. Unanimous Media attempts to hire diverse writers to create projects about family, faith, and sports, said Erick Peyton, the multimedia company’s co-founder and co-CEO along with Curry. Unanimous Media launched in 2018 and has been profitable every year, said Peyton. The company is four years into a first-look deal with Comcast’s NBCUniversal, which owns the Peacock streaming service.

Gentleman’s Cut Bourbon

Curry and John Schwartz, owner of the Amuse Bouche Winery in Napa Valley, partnered with Boone County Distilling Co. to develop Gentleman’s Cut. Thirty Ink was in talks last year to sell a minority stake in Gentleman’s Cut to a buyer that wanted to feature a Black-owned business, but the deal was squashed due to the Trump administration’s crackdown on diversity, equity, and inclusion.

Diversity, Equity, and Inclusion

Curry isn’t backing off his own commitment to DEI, he told CNBC Sport. Curry’s Underrated Golf business is specifically designed to give Black and brown children a chance to participate in a sport that hasn’t historically catered to them. "Obviously, from a national perspective, a lot of the narrative is trying to peel back programs and opportunities that are programs and resources that are allowing people to have just a fair shot and a fair chance," Curry said in an interview.

Conclusion

Steph Curry’s business ventures are not only profitable but also focused on promoting diversity, equity, and inclusion. With a strong financial performance and a commitment to social responsibility, Curry’s Thirty Ink conglomerate is poised for continued success.

FAQs

Q: What is Thirty Ink, and what companies does it own?
A: Thirty Ink is a house-of-brands conglomerate that owns companies including Unanimous Media, Gentleman’s Cut bourbon, and Underrated Golf and Basketball.
Q: How much revenue did Thirty Ink generate in 2024?
A: Thirty Ink generated $173.5 million in revenue in 2024.
Q: What is the mission of Unanimous Media?
A: The mission of Unanimous Media is to "elevate the under" by hiring diverse writers to create projects about family, faith, and sports.
Q: What is Gentleman’s Cut bourbon, and how was it developed?
A: Gentleman’s Cut bourbon is a bourbon brand developed by Curry and John Schwartz, owner of the Amuse Bouche Winery in Napa Valley, in partnership with Boone County Distilling Co.
Q: What is Curry’s commitment to diversity, equity, and inclusion?
A: Curry is committed to promoting diversity, equity, and inclusion through his business ventures, including Underrated Golf, which aims to give Black and brown children a chance to participate in golf.

Introduction to Hims & Hers Health Expansion

Hims & Hers Health announced Tuesday it will acquire European telehealth platform Zava in its push to expand globally. "We’re excited to take this moment to really accelerate both the European expansion, but also use this platform as an accelerant as we move into more markets," Hims & Hers CEO Andrew Dudum told CNBC in an interview.

The Acquisition Details

The deal is set to close by mid-year, according to the company’s press release. While terms of the acquisition were not disclosed, the company said details of the transaction will be available in financial disclosures at closing. Dudum spoke at length during the company’s first-quarter earnings call in mid-May about the company’s commitment to global expansion. "Early traction in the U.K. gives us confidence that we can scale out platform globally and extend out mission to help people around the world," Dudum said at the time.

Global Expansion

Hims first expanded its global footprint to the U.K. in 2021 when it acquired London-based vertical health platform Honest Health. The deal to acquire Zava will expand the company’s services to Ireland, France and Germany and will grow its active customer base by roughly 50%, adding 1.3 million customers to Hims’ existing base of 2.4 million subscribers. Zava CEO David Meinertz, who launched the platform in 2011, said the deal will provide relief to an otherwise overwhelmed European health-care system.

European Healthcare System

"The medications are priced more competitively than in the U.S. so more people can actually afford it and we are seeing a huge demand," said Meinertz. "The demand is increasing with additional strains on the statutory systems that telehealth can alleviate." In the European Union, the statutory health-care system generally refers to the publicly funded health insurance and health-care delivery systems within individual member states. These systems are universal, providing comprehensive coverage to citizens and residents, although access and coverage can vary.

Post-Acquisition Plans

After the acquisition closes, Zava platforms will maintain their branding for a "few quarters" before being rebranded as Hims & Hers, Dudum said. Meinertz will become a general manager of the international business. Dudum noted that while some companies are pulling back or withholding their growth outlook given macroeconomic uncertainty, he has full confidence that pushing forward is the right decision. "The pricing on pharmaceuticals is so much more consumer advantageous in broader Europe relative to the U.S.," said Dudum. "The ability to bring accessible, personalized treatments to customers overseas may be equal or easier than what we see domestically just given the pricing and complexities of insurance and [pharmacy benefit managers] and the pricing power that exists here."

Conclusion

The acquisition of Zava by Hims & Hers Health marks a significant step in the company’s global expansion plans. With the addition of 1.3 million customers and expansion into new markets, Hims & Hers is well-positioned to increase its presence in the global telehealth market. The company’s commitment to providing accessible and personalized healthcare services will likely continue to drive growth and innovation in the industry.

FAQs

Q: What is the significance of Hims & Hers Health acquiring Zava?
A: The acquisition marks a significant step in Hims & Hers Health’s global expansion plans, allowing the company to expand its services to Ireland, France, and Germany, and grow its active customer base by roughly 50%.
Q: What is the current state of the European healthcare system?
A: The European healthcare system is generally universal, providing comprehensive coverage to citizens and residents, although access and coverage can vary. The system is currently experiencing strains, which telehealth can help alleviate.
Q: What are the plans for Zava after the acquisition?
A: After the acquisition closes, Zava platforms will maintain their branding for a "few quarters" before being rebranded as Hims & Hers. Zava CEO David Meinertz will become a general manager of the international business.
Q: How does the pricing of pharmaceuticals in Europe compare to the US?
A: The pricing of pharmaceuticals in Europe is more consumer-advantageous than in the US, making it easier for Hims & Hers to provide accessible and personalized treatments to customers overseas.

Introduction to Dollar General’s Success

Shares of Dollar General jumped nearly 16% on Tuesday after the discounter raised its outlook, saying it drew more middle- and higher-income shoppers amid fears that higher tariffs would hurt consumer spending.

Quarterly Performance

The Tennessee-based retailer beat quarterly expectations for revenue and earnings. The company said it now anticipates net sales will grow about 3.7% to 4.7%, compared to its previous expectation of about 3.4% to 4.4%. It expects diluted earnings per share to range from $5.20 to $5.80, compared to its prior outlook of approximately $5.10 to $5.80. Dollar General anticipates same-store sales will increase 1.5% to 2.5%, higher than its previous guidance of about 1.2% to 2.2%.

Key Financial Highlights

Here’s how the retailer did for the fiscal first quarter compared with Wall Street’s estimates:

• Earnings per share: $1.78 vs. $1.48 expected
• Revenue: $10.44 billion vs. $10.31 expected

Impact of Tariffs on Dollar General

In the three-month period that ended May 2, Dollar General reported net income of $391.93 million, or $1.78 per share, compared with $363.32 million, or $1.65, in the year-ago quarter. As of Tuesday’s close, shares of Dollar General have risen about 48% so far this year. That far exceeds the roughly 1% gains of the S&P 500 during the same period. Shares of the retailer closed at $112.57 on Tuesday, bringing Dollar General’s market value to $24.76 billion.

Response to Tariff Challenges

Dollar General’s first-quarter results — and its stock performance — stand out in a retail industry that is already taking a hit from President Donald Trump’s tariffs. Companies including Best Buy, Macy’s and Abercrombie & Fitch have cut their profit outlooks due to tariffs. On an earnings call Tuesday, Dollar General CEO Todd Vasos said the company has worked to reduce its exposure to China — and limit price hikes for shoppers.

Customer Traffic and Spending

Customer traffic dipped by 0.3% in the first quarter compared to the year-ago period, but shoppers spent more when they visited. The average transaction amount rose 2.7%, as sales in the food, seasonal, home and apparel categories all grew. Vasos added tariffs have also increased U.S. consumers’ desire to find deep discounts. Vasos said the company’s first-quarter results reflect Dollar General’s gains from "customers across multiple income bands seeking value."

Attracting Middle- and Higher-Income Customers

Vasos said store traffic and the company’s market research indicates that more middle- and higher-income customers have come to its stores more frequently and spent more when they visited. "We are pleased to see this growth with a wide range of customers and are excited about our ongoing opportunity to grow [market] share with them," he said.

Improving Customer Experience

Dollar General has tried to tackle company-specific problems that drew government scrutiny and tested customer loyalty. The discounter, which has more than 20,000 stores across the country, has paid steep fines to the Labor Department for workplace safety violations due to blocked fire exits and dangerous levels of clutter. Vasos highlighted some of the ways that Dollar General has tried to improve the customer experience. Among them, it’s worked to reduce employee turnover, and it took about 1,000 individual items off its shelves so it can keep top-selling items in stock, he said.

Expanding Services and Products

Dollar General has launched its own home delivery service, which is now available at more than 3,000 stores. Its deliveries through DoorDash have grown, too, with sales up more than 50% year over year in the quarter. Dollar General has also bulked up its merchandise categories outside of the food and snack aisles, adding more discretionary items like seasonal decor and home items.

Conclusion

Dollar General’s success in attracting middle- and higher-income customers, improving the customer experience, and expanding its services and products has contributed to its strong quarterly performance. Despite the challenges posed by tariffs, the company remains optimistic about its future growth prospects.

FAQs

Q: What was the percentage increase in Dollar General’s shares on Tuesday?
A: Dollar General’s shares jumped nearly 16% on Tuesday.
Q: What is Dollar General’s anticipated net sales growth for the year?
A: Dollar General anticipates net sales will grow about 3.7% to 4.7%.
Q: How has Dollar General responded to the challenges posed by tariffs?
A: Dollar General has worked to reduce its exposure to China, limit price hikes for shoppers, and offset the anticipated tariff impact on its gross margin.
Q: What is the average annual income of Dollar General’s core customers?
A: About 60% of the retailer’s sales come from households with an annual income of less than $30,000 per year.
Q: How has Dollar General improved the customer experience?
A: Dollar General has worked to reduce employee turnover, taken items off its shelves to keep top-selling items in stock, and launched its own home delivery service.