Traub Weekly News Roundup // October 3, 2023

Here's our weekly roundup of recent consumer and retail news. This week, Bloomingdales and Macy's debut scaled-down store formats, Taylor Swift boosts NFL ratings, and more. 



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  • Sycamore Buying Chico’s for $1 Billion WWD
  • Stokke Owner NXC Weighs Options for $1 Billion Baby Brand Bloomberg
  • Wells Fargo to Buy NYC’s Neiman Marcus Space for $550 Million Bloomberg
  • Blue Apron to be acquired by Wonder Group for $103 million CNBC
  • JM Smucker to sell Sahale Snacks to Brownie Brittle owner for $34M Food Dive
  • Style Capital to Buy Majority Stake in French Brand Soeur WWD 
  • Shopify invests in wholesale platform Faire Reuters
  • L’Oréal Exits Investment in Sanoflore WWD




Holiday spending to increase 3.7%: Mastercard

Consumer outlays for electronics and at restaurants are expected to boost expenditures this year, according to the card network. Retail Dive


Drugstore Downsizing: CVS, Walgreens And Rite Aid To Close Nearly 1,500 Stores

All three of the nation's leading drugstore chains have different reasons for closing stores, but the downsizing prescription is the same. Forbes


Big Food vs. Big Pharma: Companies bet on snacking just as weight loss drugs boom

Food companies are making big bets on snacking, but the rise of Wegovy, Ozempic and similar drugs could pose a threat to future sales growth. CNBC




DoorDash, Uber, and Instacart are deactivating gig workers without any explanation why

Gig workers for Instacart, DoorDash, Grubhub, Uber Eats apps are getting deactivated with little explanation. Business Insider


Peloton shares soar on digital content, apparel partnership with Lululemon

In the five-year strategic partnership, Peloton will develop digital fitness content for Lululemon, while Lululemon will become Peloton’s primary athletic apparel provider. CNBC


How Shein Wound Up in the Luxury Fashion Business

The company’s recent introduction of a marketplace model has led to a flood of listings for new, high-end goods by third-party sellers. Some brands aren’t happy, but there may not be much they can do. BoF


StockX is testing out physical retail with its first ‘shoppable experience’ in New York City

Resale marketplace StockX is testing out physical retail with its first shoppable experience in New York City. It's a significant change for the brand, which has traditionally focused on e-commerce. Modern Retail


Costco shoppers are continuing to cut back on big-ticket items, even as inflation falls, as Americans put off buying jewelry, laptops, and furniture

Customers aren't necessarily as receptive to price discounts as they used to be, Costco's CFO told investors. Business Insider


Birkenstock could be worth $10 billion

The iconic footwear brand plans to sell shares for between $44 and $49 apiece when it debuts on the New York Stock Exchange, aiming to raise as much as $1.6 billion. CNN


Showfields has shuttered its original flagship store as part of restructuring plan

Showfields, which dubs itself “the most interesting store in the world,” has closed its original flagship location in New York City. Modern Retail


Some fashion retailers may be hard pressed to lower prices to bring back consumers

As inflation wreaks havoc on consumer spending, middle-tiered retailers are likely to feel the heat as they have resorted to hiking product prices over the past year. Retail Brew


A rendering of the upcoming Bloomies in Seattle.

Bloomie’s Gets Set for Its Seattle Debut

The scaled-down version of Bloomingdale's focuses on contemporary and casual offerings and convenience. WWD


Americans Are Still Spending Like There’s No Tomorrow

Concerts, trips and designer handbags are taking priority over saving for a home or rainy day. WSJ


SoftBank-Backed Lululemon Rival Vuori Said to Plan IPO Next Year

The apparel company would seek in an IPO to top its $4 billion valuation in a 2021 funding round led by SoftBank Group Corp.’s Vision Fund 2. Bloomberg


Toys R Us is planning a brick-and-mortar comeback in the U.S

Toys R Us is plotting a bold comeback in the U.S., as it plans to expand its brick-and-mortar presence with as many as 24 new flagship stores and a separate rollout at airports and on cruise ships starting this holiday season. CNBC


What the return of student loan payments means for retailers

As of last June, Gen Xers hold the biggest share of the $1.7 billion in federal student loan debt at $525.3 billion. Retail Brew


Macy’s Ready to Run With Small-format Strategy

The retailer is targeting up to 30 openings of the scaled-down, specialized Macy's format in 2024 and 2025. WWD


Dollar General's takeover of America is nearly complete, proving messy stores can win with discounts

Dollar General has stores in all 48 contiguous US states after it opened its first location in Montana. Business Insider




Internet and Online Shopping Concept Present by Hand With E-Commerce Icon Above on supper market  Background

Artificial Intelligence Is Already Taking Over Grocery Stores

The grocery industry may be an ideal place to build artificial intelligence because the low profit margins make every additional advantage highly impactful. Forbes


Zuckerberg unveils Quest 3 as Meta tries to stay ahead in the mixed reality headset game

Unveiled by CEO Mark Zuckerberg at the company’s virtual Meta Connect event Wednesday, the headset starts at $500 and is a complete redesign of earlier models. CNN


Fortnite maker Epic Games announces layoffs

Epic Games is laying off 16% percent of its employees, impacting about 870 people, the Fortnite maker announced on Thursday. TechCrunch


TV and Movie Writers to Begin Returning to Work on Wednesday

The leadership of the Writers Guild of America voted to end a 148-day strike. Members will start voting on the deal’s ratification this week. NYT


Why Netflix is Selling Pizza and Wedding Gowns Based on Your Favorite Shows

The streaming service is creating experiences, merchandise to deepen fan engagement. WSJ


LinkedIn goes big on new AI tools for learning, recruitment, marketing and sales, powered by OpenAI

The social platform — which pulled in $15 billion in revenues last year— has been slowly putting in a number of AI-based features across its product portfolio. TechCrunch


Taylor Swift Boosts NFL Ratings, Showing Star’s Halo Effect Has Staying Power

Sunday night NFL contest drew 27 million viewers, making it the second-most-watched matchup this season. WSJ


Snap hedged its bets on AR. Brands weren’t ready

The company has closed its first Saas offering, called Ares, which aimed to provide support to businesses who wanted to use its augmented reality tools in their own apps and websites. Vogue Business


Paris Hilton Inks Content and Commerce Deal With Elon Musk’s X/Twitter, Will Host Videos Featuring Live Shopping

Under the deal between X and Hilton and her 11:11 Media company, she and X will work together to create four original video content programs per year that include live-shopping features. Hilton will also serve as a launch partner for new X consumer products, services and feature releases, according to the companies. Variety




Fast food drive-thrus are moving faster than ever, survey finds

Some of the leading fast food companies, such as Wendy’s, Chick-fil-A and Carl’s Jr. saw major reductions in their average total time in the drive-thru. CNN


Is the party over? New data suggests revenge travel may be ending soon

The travel boom after years of pandemic restrictions, or "revenge travel," may be over. CNBC




  • Panos Panay is leaving Microsoft for Amazon The Verge
  • Peloton co-founder and Chief Product Officer Tom Cortese is leaving the company CNBC
  • UrbanStems hires new chief executive officer Retail Dive
  • Sportsman’s Warehouse Names New CEO SGB Media
  • Inspirato Taps Eric Grosse as CEO MarketWatch
  • GameStop names Ryan Cohen as CEO CNBC
  • Adidas Appoints New Digital Chief SGB Media
  • CFO of The RealReal to resign come 2024 Luxury Daily
  • Fabletics Appoints VP Wholesale for Europe SGB Media
  • Pitney Bowes president and CEO steps down Yahoo



  • Amazon Is the Apex Predator of Our Platform Era NYT
  • College has become beauty marketing’s biggest opportunity Glossy
  • Unpacking the Impact of a Brown Paper Bag NYT