.png?width=456&height=312&name=logo-vert-traub%20(2).png "logo-vert-traub (2)"){kind=logo}
Here's our weekly roundup of recent consumer and retail news. This week, Bed Bath & Beyond returns as online retailer, Anheuser-Busch announces layoffs, and more.
WORDS FOR THE WEEK
M&A and INVESTMENTS
- Birkenstock Owner Plans September IPO at $8 Billion Value BoF
- Kering Acquires 30% of Valentino for $1.7B at Valuation Above €5 Billion WWD
- Walmart Buys Tiger Global’s Flipkart Stake for $1.4 Billion Bloomberg
- Authentic Brands Group Is Acquiring Rockport Sourcing Journal
- Richemont Acquires Controlling Stake in Gianvito Rossi WWD
- Kid’s Resale Marketplace The Swoondle Society Acquires ShopTomorrows WWD
- Kao to Acquire Australian Sun Care Brand Bondi Sands WWD
INDUSTRY NEWS
CPG
Consumer Confidence Hike Turns Back the Clock Two Years
Shoppers seem ready to celebrate a little given the still-strong job market — whether they do so by spending on goods or services is one of the key questions. WWD
Anheuser-Busch lays off hundreds of corporate employees
The job cuts follow months of declining sales for Bud Light, which was dethroned as the best-selling beer in the country after the controversy involving Dylan Mulvaney. Food Dive
How Mondelēz’s 60-year-old Chips Ahoy! brand is resonating with younger consumers
The chocolate chip cookie offering with $1 billion in sales is one of the snacking giant’s fastest-growing products, increasing by “double digits” annually. Retail Dive
Brands and retailers are finding a win with Formula One merchandise
Retailers from Puma to Pacsun are rushing to secure collaborations with Formula One as interest in motor racing continues to spike. Modern Retail
As CVS Adds More Healthcare Services, 5,000 Job Cuts And Restructuring Ahead
CVS Health plans to shed 5,000 jobs across the country in the wake of billions of dollars the retail drugstore giant has spent on healthcare services. Forbes
Bed Bath & Beyond is back from the dead
A month after Overstock.com announced it bought Bed Bath & Beyond’s brand out of bankruptcy, the company has dumped its name and morphed its website and app. CNN
RETAIL
Tennis Apparel and Footwear Sales Grow Double Digits as Fashion Trends and Pickleball Take Off
The racquet sports equipment market is nearly six times larger than it was three years ago, dominated by pickleball fever, according to Circana. WWD
Craze for vintage Gap comes to the rescue as current sales decline
Demand for quality clothing that captured the zeitgeist of the 90s and 00s is soaring, but it may not be enough to save the retailer. The Guardian
Back To School Is A $40 Billion-Plus Opportunity For Physical Retail
Retailers who invest in making back-to-school shopping a pleasant experience for parent and child will be the biggest winners this year. Forbes
Adidas to release second batch of Yeezy sneakers after breakup with Ye
Adidas is releasing a second batch of high-end Yeezy sneakers after cutting ties with rapper Ye, formerly known as Kanye West. AP News
How America’s biggest retailers plan to use technology to catch organized retail theft
Walmart, Target, Home Depot and Walgreens are among the major retailers that have complained about the rise of organized retail theft, cases in which “shoplifting” is being committed at the level of criminal gangs. CNBC
Amazon Doubling Same-Day Delivery Facilities in Push for Speed
Amazon Inc. will double the number of US same-day delivery facilities in the “coming years,” the company announced Monday; investment executives are counting on to maintain Amazon’s lead in the $1.4 trillion online shopping market. Bloomberg
TECH
WooCommerce merchants will start selling on TikTok Shop in the US
TikTok began testing its Shop feature in the US last November in an effort to compete with Amazon and other retail giants. Retail Brew
Maybelline New York Launches Virtual Beauty Looks on Microsoft Teams
The makeup brand is bringing its digital beauty efforts to the workplace. WWD
NASA is launching its own streaming service later this year
NASA+, the ad-free, no-cost streaming service will include live coverage of future launches, documentaries and new original series that will be exclusively available on the platform. TechCrunch
Fanatics creates livestream commerce app
Fanatics Live allows fans and collectors to participate in creator-run, live shopping experiences from a dedicated app. Retail Dive
DoorDash Is Working on an AI Chatbot to Speed Up Food Ordering
The company is working on a system called DashAI that it’s testing in a limited capacity in some markets. Bloomberg
Ralph Lauren goes bigger on Fortnite with island and phygital boots
The brand’s new virtual world on the platform signals an ongoing investment in gaming as fertile ground for luxury brands. Vogue Business
RESTAURANTS & HOSPITALITY
McDonald’s is creating a spinoff restaurant brand called CosMc’s
“CosMc’s is a small format concept with all the DNA of McDonald’s, but with its own unique personality,” McDonald’s CEO Chris Kempczinski said. The company will test CosMc’s in a handful of sites in “a limited geography” in early 2024. CNBC
COMINGS & GOINGS
- Mattel’s Richard Dickson Named Gap CEO WWD
- Serta Simmons Names New CEO and Marketing Chief Retail Touchpoints
- Ian Meakins to Replace Nils Andersen as Chair of Unilever WWD
- Kering Names New CFO Armelle Poulou BoF
- LuisaViaRoma Appoints New CEO WWD
- Tennille Kopiasz Named CEO of Fekkai and Bastide WWD
GOOD READS
