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Never get surprised on a portfolio company in a board seat or an LP call. Walk in already knowing what moved this week and what it means for the thesis.

Your portfolio companies

Dunkin'
Petco
Michaels
Krispy Kreme

Illustrative sample. Accounts shown are not real.

The Only Copy is not affiliated with or endorsed by the companies shown. Names are used for illustration only.

Private equity · twice weekly

Dunkin'

A national rival launched a loyalty membership in Dunkin's strongest region.

Trade press

Why it matters to Dunkin'

Tests the same-store growth thesis. Raise it at the next board meeting before it shows up in traffic.

Petco

Pet-category spend softened as shoppers traded down to private label.

Sector data

Why it matters to Petco

Hits the margin case for the hold. Reframe the value-creation plan.

Michaels

New tariff guidance touches Michaels' primary import category.

Regulatory docket

Why it matters to Michaels

Reopens the sourcing plan. Frame the exposure for the LPs.

Watch

Dunkin's loyalty response and the Michaels tariff exposure are the two that move the value-creation plan first.

Illustrative sample. Accounts shown are not real.

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