goodsDEX Sneak Preview + ICR 2026 Takes

Good morning,

Thanks again for subscribing to Goodsletter, whether paid or free. This has always been an evolving experiment with long-form deep-dive content and a spattering of smaller takes and recaps. The ultimate goal is to product content more consistently. But alas, someone also has to run the underling businesses, which are Goods Intelligence (business intelligence, data analytics, FP&A) and Goods Advisors (M&A execution and exit planning). I hope to develop a more regular cadence over time, so stay tuned.

These past few months in particular have been quite intense and impactful. We just signed a large, well-known, high-growth beverage brand for a sophisticated data management, analytics infrastructure, and financial modeling engagement. And I recently got back from a bit of traveling to Philadelphia and then Orlando for the ICR Conference (I’ll include some ICR takeaways at the bottom).

But I also want to share a sneak preview of something I’ve been developing for internal use. Think part CRM, part company directory, part global explorer, part AI-enabled industry research platform… called goodsDEX.

I’m thinking of making it available to paid subscribers to some degree of access and capability in the near future. Here are some of the features so far. If you have feedback, please share. I’m all ears.

goodsDEX Preview

This is a company database build with a scrolling color-coded news marquee.

This is a 3D globe component that allows me to map major company locations around the world whether it be HQ, manufacturing, sales, R&D, or any other relevant location type. And I’m thinking about other overlays to this as well… so many possibilities and directions.

This is a more interactive version of this post which explains how GDP is constructed and the split and nuance between goods and services within the US economy.

And this is my “Research Sandbox” connected via API to SEC EDGAR — staffed with an “AI Assistant” layer — that allows me to build a context window (i.e. documents and data of my curation) and ask question against it.

ICR Conference takes

Got back from the 2026 ICR Consumer Conference a few weeks ago -- the “Super Bowl of consumer conferences.” (according to Jim Cramer…)

Still my favorite way to kick off the year… reconnect with old research, banking, and investor colleagues… make new friends… hear directly from the fastest-growing consumer businesses… plus samples, swag, and Orlando weather that beats Amsterdam in January.

Walmart (Daniel Danker, EVP - AI Acceleration) is going all-in on AI + personalization. Better recommendations, understanding household behavior, predictive replenishment. Already dominant... and defining the future of retail.

Mid-Day Squares is crushing it. Jake Karls’ 8am session brought infectious energy. 65M+ bars sold, in-house manufacturing built from scratch, owning the between lunch-dinner snacking occasion (~40% of the $70B NA snacking category), driving fresh snacking coolers. When cocoa prices spiked, they innovated instead of complaining (“No Bread” PB&J is amazing, I tried it). Respect.

Hint Inc. is quietly massive. ~$250MM retail sales, only ~5% HH penetration, top SKU at 49% ACV. 40% “fully loaded” gross margin. They believe flavored still water could be a $5–10B category. Previewed a bold 2026 campaign... stay tuned.

Utz Brands, Inc. is an iconic American business... these days focused on margin expansion, productivity, and reinvesting in their core brands (Utz, Boulder Canyon, Zapps, On the Border) to grow coast-to-coast. Nimble vs giant Frito-Lay, strong retailer flexibility (60% DSD + 40% warehouse), smart portfolio architecture with premium + value SKUs.

Jersey Mike's Subs presented after announcing its new UK expansion (Peter Cancro as first franchisee). Now 3,000+ stores, Blackstone-backed, elite brand. Jersey Shore powered!

Authentic Restaurant Brands (Alex Macedo) continues to impress. Strategy is to acquire and compound great regional “hometown hero” brands (Primanti Bros, Pollo Tropical, PJ Whelihan’s, etc.) by upgrading systems to accelerate growth (e.g. data analytics, AI)... not by tearing things apart or cutting. Excited for what's next for them.

Great conference. Already looking forward to 2027.

-Kevin Lehmann/GOODS