Traub Weekly News Roundup // September 5, 2023

Here's our weekly roundup of recent consumer and retail news. This week, Trader Joes is plagued by recalls, Macy's and Gap release joint collection, and more. 

WORDS FOR THE WEEK

M&A and INVESTMENTS

• François-Henri Pinault Nears $7 Billion Deal for CAA BoF
• VanMoof E-Bike Brand Acquired by McLaren Applied Subsidiary SGB Media
• Thélios Buys Storied French Brand Vuarnet WWD
• WHP Global Acquires Majority Interest in G-Star Raw WWD

INDUSTRY NEWS

CPG

Dollar Stores Flash Warning Signs on Consumer Spending

Dollar General and Dollar Tree say shoppers are shifting spending toward food and essentials. WSJ

New Boozy Drinks Blur Lines Between Kid and Adult Beverages

Regulators are cracking down on shelf placement of drinks such as SunnyD Vodka and Eggo Liqueur. WSJ

Trader Joe's plagued by recalls and quality control concerns

It's been a summer of recalls at Trader Joe's with six products pulled in five weeks for possible contamination ranging from rocks, insects, metal and undeclared milk. Axios

Tyson Foods Couldn’t Produce Enough Chicken. Now It Has Too Much.

The company is closing chicken plants after some say it went too far in building up the business. WSJ

RETAIL

Sycamore Forms Holding Company for Talbots, Ann Taylor and Loft

Creating the KnitWell Group brings three women's specialty retailers with similar products and customer demographics closer together under a single umbrella. WWD

Macy’s, Gap release joint collection of sleepwear and intimates  Why more apparel brands and museums are teaming up on artistic collaborations

In a first for the retailers, Gap will sell a line including loungewear, pajama sets and intimate basics exclusively through the department store. Retail Dive

J.C. Penney announces $1B turnaround plan

The struggling department store will upgrade its tech, stores and customer experience, but is unlikely to follow rival Macy’s in leaving the mall. Retail Dive

Why more apparel brands and museums are teaming up on artistic collaborations

Art museums and apparel brands are increasingly pairing up on new fashion collections to reach younger audiences. Modern Retail

The tinned fish trend drops anchor in Times Square

The Fantastic World of the Portuguese Sardine goes upscale, even offering a can of gold-flecked sardines for $44. Retail Brew

Why Student Loans Are Retail’s Latest Headache

The three-year pause on student loan interest accruement has ended, which will likely curb consumer spending. Retailers resilient to the shock will be those that offer a distinct assortment of products while conveying a sense of value. BoF

The RealReal’s Turnaround Plan And The Future Of Resale

The RealReal's is a big player in the resale industry and its turnaround plan is uncertain. What does that mean for the future of resale? Forbes

With its new handmade goods marketplace, Michaels looks to rebrand the company’s image

Michaels, is stepping more into that Etsy and Pinterest lane with a beta test of a handmade goods marketplace that allows people to sell custom-made pieces. Retail Brew

TECH

Elemis taps Perfect Corp. for mobile skin analysis, product recommendation tool

The artificial intelligence-driven skin diagnostic experience will give mobile users suggestions for products to combat issues like wrinkles, dark spots and redness. Retail Dive

In a surprise tie-up, Shopify merchants will be able to offer Amazon’s ‘Buy with Prime’ option

The Buy with Prime feature allows online consumers the option to purchase their items using the store payment method in their Amazon wallet when processing payments through Shopify’s checkout. Meanwhile, they’ll also receive fast, free delivery and the option for returns through Amazon’s fulfillment network. TechCrunch

How Pinterest became Gen Z’s favourite fashion inspo

Pinterest has emerged as a surprise go-to fashion destination for Gen Z as well as a trend forecasting resource for brands and retailers. Can it drive revenue from in-app shopping? Vogue Business

Messi Drives Jump in Apple TV+ and MLS Subscriptions

Soccer superstar attracts over 110,000 sign-ups to MLS Season Pass on day of first game. WSJ

RESTAURANTS & HOSPITALITY

New York’s Famous Gramercy Park Hotel to Reopen After Renovations Under New Operator

MCR Hotels acquired the lease to the 200-room hotel, which was foreclosed on last year, and expects to reopen it in about two years. WSJ

Who Should Eat the Cost of Pricier Delivery Menus?

Persuading restaurants to rethink higher delivery prices proves challenging for DoorDash. WSJ

COMINGS & GOINGS

• Theory Taps Chloé Executive as New Europe CEO BoF
• Warner Bros Discovery named Mark Thompson as CEO of CNN Reuters
• Urban Skin Rx Names Victoria Payne CEO WWD
• Revolution Beauty Appoints New CEO BoF
• Gucci Names Alessio Vannetti Chief Brand Officer BoF
• Tremaine Emory Exits Supreme, Alleging ‘Systematic Racism BoF
• Walgreens CEO Brewer abruptly steps down Reuters
• Under Armour Names John Varvatos Chief Design Officer WWD

GOOD READS

• Retailers Bet Wrong on America’s Feelings About Stores The Atlantic