---
title: Traub Weekly Consumer News // May 30, 2023
description: Here's our weekly roundup of recent consumer and retail news. This week, Peloton rebrands as a fitness company, Bloomingdales, Nordstrom pursue mini stores, and more.
image: https://wwd.com/wp-content/uploads/2023/05/92a2650.jpg?crop=0px%2C0px%2C2500px%2C1399px&resize=1000%2C563
---
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# Weekly Consumer News Update // May 30, 2023
By [TRAUB](https://blog.traub.io/blog/author/traub) On May 30, 2023
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Here's our weekly roundup of recent consumer and retail news. This week, Peloton rebrands as a fitness company, Bloomingdales, Nordstrom and Macy's pursue smaller format stores, and more.
---
**M&A and INVESTMENTS**
- ExpressChoice Hotels Seeks to Buy Wyndham Hotels & Resorts [WSJ](https://www.wsj.com/articles/choice-hotels-seeks-to-buy-wyndham-hotels-resorts-92019f6b?mod=hp_lead_pos11)
- Qurate Sells Zulily to Investment Firm Regent [MarketWatch](https://www.marketwatch.com/story/qurate-sells-zulily-to-investment-firm-regent-5702786e)
- PE Firm Permira Takes Control of Italian Leather Goods Supplier Gruppo Florence [BoF](https://www.businessoffashion.com/news/news-analysis/private-equity-firm-takes-control-of-italian-leather-goods-supplier/)
- Authentic Brands Finalizes Acquisition Of Vince Intellectual Property [SGB Media](https://sgbonline.com/authentic-brands-finalizes-acquisition-of-vince-intellectual-property/)
- Caudalie’s founders invest in emerging cosmetics brand Talm [FN](https://ww.fashionnetwork.com/news/Caudalie-s-founders-invest-in-emerging-cosmetics-brand-talm-a-maternity-skincare-specialist,1520539.html)
## **INDUSTRY NEWS**
**RETAIL**
Peloton aims to rebrand as a fitness company for all with focus on app, tiered subscription pricing
The brand relaunch comes a little over a year into Barry McCarthy’s tenure as CEO who has worked to transform Peloton from a hardware-focused company into one that’s just as invested in its app and the high-margin subscription revenue that it brings. [CNBC](https://www.cnbc.com/2023/05/23/peloton-relaunches-brand-subscription-pricing-and-app.html)
The Luxury Shopping Oasis Emerging in San Francisco’s Struggling Downtown
Foot traffic is down 27% in the district, but tourists are visiting high-end stores. [WSJ](https://www.wsj.com/articles/the-luxury-shopping-oasis-emerging-in-san-franciscos-struggling-downtown-35ad89e)
How Lululemon, Starbucks And Google Boost Brand Engagement Though Community Retail
Retailers are rethinking the way they interact with shoppers, with 2023 marking an acceleration of brands experimenting to elevate the brick-and-mortar experience and create valuable interactions. [Forbes](https://www.forbes.com/sites/forbeseq/2023/03/31/real-time-market-compensation-data-is-not-a-panacea/?)
Adidas After Yeezy
The partnership with Ye, formerly known as Kanye West, was the stuff of sneakerhead legend—and its demise has the shoe company scrambling to replace nearly half of its profits. Bloomberg
Hill House Home Lands in the UK
Expanding overseas is one of several ways the New York-based brand is looking to keep up momentum, three years after its ‘nap dress’ went viral. [WWD](https://www.businessoffashion.com/articles/marketing-pr/hill-house-home-lands-in-the-uk/?utm_source=newsletter_dailydigest&utm_medium=email&utm_campaign=Daily_Digest_250523&utm_content=intro)
How Retailers Should Start Catering to Hybrid-Working Customers
A lot of us no longer work 9 to 5, or commute into the office. Yet retail businesses seem stuck in a different era. [WSJ](https://www.wsj.com/articles/hybrid-working-customers-retail-6fe83a5d)
Journeys to close 100 stores this year, move away from malls
Amid declining sales, Genesco is shifting the store presence of Journeys away from malls. [Retail Dive ](https://www.retaildive.com/news/journeys-close-one-hundred-stores-off-mall-genesco/651411/)
Mini Stores Will Grow For Many Major Retailers
Bloomingdale’s Bloomie’s, the Nordstrom Local, and the Macy’s on-line Marketplace are just three different examples of how top retailers are pursuing growth using new concepts and smaller spaces in an effort to be closer to their customers.[Forbes](https://www.forbes.com/sites/walterloeb/2023/05/29/mini-stores-will-grow-for-many-major-retailers/?sh=6774033e71f8)
This summer, brands are ‘meeting customers’ at airports, hotels and the beach
With post-peak-pandemic revenge travel still in swing, fashion brands are seeking out opportunities to support consumers checking off packing lists, tap vacationers’ indulgent shopping habits and even team up with tourism boards, which are upping their own plays for travelers. [Glossy](https://www.glossy.co/fashion/fashion-briefing-this-summer-brands-are-meeting-customers-at-airports-hotels-and-the-beach/)
Walgreens laying off 10% of corporate workforce
Walgreens Boots Alliance is cutting its corporate workforce by 10%, affecting 504 workers, as the company focuses on its healthcare business. [Retail Dive](https://www.retaildive.com/news/Walgreens-layoffs-10-percent-corporate-workforce/651497/)
Louis Vuitton Launches in the Hamptons
The luxury retailer has just opened its newest store summer hot spot East Hampton and is fully leaning into the beachy lifestyle. [WWD](https://wwd.com/business-news/retail/louis-vuitton-hamptons-store-opens-1235665259/)
**TECH**
The revamped MoviePass goes nationwide
After years of rocky history, the company promised to return to the straight and narrow, with a more measured approach to new movie access, following the free-for-all that was MoviePass 1.0. [TechCrunch](https://techcrunch.com/2023/05/25/the-revamped-moviepass-goes-nationwide/)
Meta has started its latest round of layoffs, focusing on business groups
The latest round of cuts targets members of Meta’s business groups and follows a previous round of layoffs in April that affected employees in technical roles. [CNBC](https://www.cnbc.com/2023/05/24/meta-layoffs-latest-round-of-cuts-focuses-on-business-groups.html?utm_source=www.execsum.co&utm_medium=newsletter&utm_campaign=italy-s-big-pasta-crisis)
YouTube Stories are shutting down June 26 as company focuses on Shorts
The Google-owned video site announced today that YouTube Stories will be shutting down on June 26, 2023, as the company aims to focus on other key areas, like Shorts, Community posts and live videos, in addition to its traditional long-form content. [TechCrunch](https://techcrunch.com/2023/05/25/youtube-stories-are-shutting-down-june-26-as-company-focuses-on-shorts/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cubGlua2VkaW4uY29tLw&guce_referrer_sig=AQAAANYQXaRTbhgIdkMMAll-ot9RSxlU3fBQ0NW_XKPz0UkmtALaQvfSw1bq2doSVF3SDq4qj0elV-qSZoWFgGtxctd8tL1N04N_frZt3eGnw3Kr_z390CT1Cp8xGHrAiUiqxbcc-USXlYGgoBq7MqPuJKDBOgoWM3ozEYoEkpJYrpXp)
TikTok Is Testing Its Own AI Chatbot Called Tako
New feature is designed to answer users’ questions, using the kind of AI that powers ChatGPT. [WSJ](https://www.wsj.com/articles/tiktok-is-testing-its-own-ai-chatbot-called-tako-96841d7a?utm_source=www.execsum.co&utm_medium=newsletter&utm_campaign=arkk-had-paper-hands)
**FOOD & BEV**
The QR-Code Menu Is Being Shown the Door
A dining innovation that once looked like the future has worn out its welcome with many restaurateurs, customers and servers who say it takes the joy out of dining. [NYT](https://www.nytimes.com/2023/05/22/dining/restaurant-qr-code-menu.html?smtyp=cur&smid=tw-nytimes)
At Boston Beer, Truly faces troubles, while Twisted Tea triumphs
Truly, a newer, once-trendy brand is notching consistent declines, while Twisted Tea, an over two-decade-old brand, continues to grow. [Retail Brew](https://www.retailbrew.com/stories/2023/05/25/boston-beer-truly-troubles-twisted-tea-triumphs?cid=31594857.169069&mblid=70849a449000&mid=e183fe4871484fb95d54c5b936067b52&utm_campaign=rtb&utm_medium=newsletter&utm_source=morning_brew)
Restaurants expect strong sales this summer. Consumers aren’t so sure
Warmer weather usually boosts restaurant sales, but diners may hold back for the second straight summer as inflation weighs on consumers’ minds — and wallets. [CNBC](https://www.cnbc.com/2023/05/29/restaurants-see-strong-summer-sales-while-consumers-fear-inflation.html)
McDonald's and Chick-fil-A are tracking the locations of customers who place mobile orders to make sure orders are ready and still hot when customers arrive
McDonald's and Chick-fil-A are both introducing app features that track mobile-order customers' locations so staff can start making their meals when they're close to the restaurant. [Business Insider](https://www.businessinsider.com/mcdonalds-chick-fil-a-apps-track-location-restaurant-mobile-order-2023-5)
**MARKETING**
Target Lands in Culture-War Crosshairs Over Pride Month
Retailer’s halt to its sale of some Gay Pride items fuels criticism it gave in to anti-LGBT pressure. [WSJ](https://www.wsj.com/articles/target-pride-collection-culture-war-a69c7b5f)
Why Bombas is leaning into out-of-home advertising for its new campaign
After a five-year hiatus, direct-to-consumer sock brand Bombas is testing the out-of-home (OOH) marketing waters once again. [Modern Retail](https://www.modernretail.co/marketing/why-bombas-is-leaning-into-out-of-home-advertising-for-its-new-campaign/)
Volkswagen Bets an Old SUV Can Help It Win Over Americans
Scout chief Scott Keogh is banking on pure Americana for VW to finally break through in the key market. [WSJ](https://www.wsj.com/articles/volkswagen-bets-an-old-suv-can-help-it-win-over-americans-85319f04)
COMINGS & GOINGS
- Panera Brands CEO Niren Chaudhary will be succeeded by Einstein Bros. Bagels CEO Jose Dueñas, effective July 1 [CNBC](https://www.cnbc.com/2023/05/23/panera-parent-announces-ceo-transition-as-it-preps-for-ipo.html)
- Charlotte Blechman to Leave Role as Chief Marketing Officer at **Tom Ford** [WWD](https://wwd.com/fashion-news/designer-luxury/charlotte-blechman-steps-down-as-chief-marketing-officer-at-tom-ford-1235662538/?cx_testId=5&cx_testVariant=cx_1&cx_artPos=0#cxrecs_s)
- Nike Shakes Up Senior Leadership as it Seeks to Drive Growth and Integration [Retail Touchpoints](https://www.retailtouchpoints.com/topics/inventory-merchandising/nike-shakes-up-senior-leadership-as-it-seeks-to-drive-growth-and-integration)
- Lazard names Orszag as CEO, Jacobs to become executive chairman [Reuters](https://www.reuters.com/business/finance/lazard-names-orszag-ceo-jacobs-become-executive-chairman-2023-05-26/?utm_source=www.execsum.co&utm_medium=newsletter&utm_campaign=debt-crisis-averted)
**GOOD READS**
- What Generative AI Means For Retail [Forbes](https://www.forbes.com/sites/jillstandish/2023/05/25/what-generative-ai-means-for-retail/?sh=ebc7b9668e2f)
- Drowning in Dupes: Shoppers will buy anything — except the real thing. [The Cut](https://www.thecut.com/article/peak-dupe.html)
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