Weekly Consumer News Update // December 27, 2022

Happy New Year! As we round out an exciting year in retail news, here's our final consumer and retail news roundup of 2022. This week, US holiday sales saw an uptick, NFL and Youtube ink deal, and more. 

 M&A and INVESTMENTS

• Lacoste and Interparfums Ink Perfume Licensing Deal following the end of existing agreement with Coty. WWD
• Mat Ishbia agrees to Suns purchase for record $4 billion ESPN
• Bloomberg eyes WSJ-parent Dow Jones, WaPo Axios
• NFL Invests In Nobull SGB Media

INDUSTRY NEWS

How ABC Carpet & Home is reinventing itself after bankruptcy

More than a year after filing Chapter 11 bankruptcy, historic homeware retailer ABC Carpet & Home is officially trying to come back as a digital furniture and home decor brand. Modern Retail

Target hopes value-hungry shoppers will come to the rescue this holiday season

The big-box retailer is trying to cater to value-minded shoppers with prominent price signs, a holiday price match guarantee and budget-friendly gift items. CNBC

NFL 'Sunday Ticket' headed to YouTube for 2023 season

The NFL announced a multiyear agreement on Thursday for Google to distribute the league's "Sunday Ticket" package of out-of-market Sunday afternoon games on YouTube TV and YouTube Primetime Channels. ESPN

Super Saturday Sees Traffic Surge but Below Past Years

Traffic levels were flat or behind those of Super Saturdays in 2021 and 2019, though this year’s turnout was still huge, with steepening markdowns and favorable weather encouraging people to get out and shop for gifts. WWD

OpenAI releases Point-E, an AI that generates 3D models

This week, OpenAI open sourced Point-E, a machine learning system that creates a 3D object given a text prompt. TechCrunch

Shoe Brand Superga and Steve Madden Agree to Part Ways as U.S. and Canadian Partners

Superga will work with a new company in Los Angeles to manage its ventures in the U.S. WWD

Supply Chains Upended by Covid Are Back to Normal

Improved shipping rates, delivery capacity and retailer inventory have soothed the woes. WSJ

H&M Pulls Justin Bieber Collection

H&M has reversed course on its decision to sell its collaborative collection with Justin Bieber after claims that he did not approve them and has stopped selling the pieces. WWD

Even Chains Stumble Amid NYC’s Uneven Retail Recovery

Even as shoppers return en masse to NYC, many big retail chains (Duane Reade, Dunkin) continue to shrink their NYC footprints. Commercial Observer

Christmas Wrap: Stores See Moderate Gains, Questionable Margins

Retailers emerged from the holiday season with midsingle-digit revenue gains, questionable margins and leftover fall and holiday inventories. WWD

Fear, misfortune and Kanye West: how Adidas lost its lustre

Adidas is sitting on $530 million in Yeezy sneakers it’s now trying to sell under its own brand since cutting ties with Kanye West. Financial Times

Why restaurant chains are investing in robots and what it means for workers

Restaurant chains are experimenting with automation as the labor crunch pressures profits. CNBC

Retailers Really, Really Don’t Want Your Holiday Returns This Year

More retailers are charging customers to return holiday items this year. Forbes

Southwest and Other Airlines Cancel Thousands of Holiday Flights Across the US

Southwest Airlines, which canceled about 70 percent of its flights, was the airline most affected on Monday. NYT

Peloton to offer refurbished bikes at discounted prices

The program, called Peloton Certified Refurbished, will provide models priced at $1,145 and $1,995 with the same 12 month warranty provided with new bikes. 

TikTok steps up efforts to clinch U.S. security deal

TikTok offers to operate more of its business at arm's length as it tries to convince the U.S. government to allow it to remain under the ownership of Chinese technology company ByteDance. Reuters

COMINGS & GOINGS

• Elon Musk set to resign, actively searching for a new Twitter CEO CNBC
• Under Armour Names Marriott President Stephanie Linnartz as Next CEO WWD

GOOD READS

• The Economy’s Fundamental Problem Has Changed The Atlantic

INSPIRATION