--- title: Weekly Consumer News Roundup //January 16, 2024 description: Here's our weekly roundup of recent consumer and retail news. This week, Amazon, Google, Pixar announce layoffs, Mango plans 500 new stores, and more.  image: https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2023/10/1200/675/1-walmart-app.jpg?ve=1&tl=1 --- [![logo-vert-traub (2)](https://blog.traub.io/hs-fs/hubfs/TRAUB_September2019/Image/logo-vert-traub%20(2).png?width=456&height=312&name=logo-vert-traub%20(2).png "logo-vert-traub (2)")](http://traub.io/) - [Who We Are](https://www.traub.io/who-we-are/) - [What We Do](https://www.traub.io/what-we-do/) - [Meet Our Team](https://www.traub.io/our-team/) - [See Our Work](https://www.traub.io/case-studies/) - [Read Our Content](https://www.traub.io/read-our-content/) - [Traub Capital](https://www.traub-capital.com/) # Weekly Consumer News Roundup //January 16, 2024 By [TRAUB](https://blog.traub.io/blog/author/traub) On January 16, 2024 [![Share on facebook](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/facebook-color.png?width=24&name=facebook-color.png)](https://blog.traub.io/blog/linkedin.com/company/traub-consulting) [![Share on linkedin](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/linkedin-color.png?width=24&name=linkedin-color.png)](https://www.linkedin.com/company/traub-consulting/) [![Share on email](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/email-color.png?width=24&name=email-color.png)](mailto:info@traub.io) Here's our weekly roundup of recent consumer and retail news. This week, Amazon, Google, Pixar announce layoffs, Mango plans 500 new stores by 2026, and more. --- **WORDS FOR THE WEEK** ![IMG_0266](https://blog.traub.io/hs-fs/hubfs/IMG_0266.jpg?width=320&height=391&name=IMG_0266.jpg) For more inspiration, visit @dailystoic and @dailyphilosopher on Instagram.    **M&A and INVESTMENTS** - RBI to acquire Carrols Restaurant Group for $1B [Restaurant Dive](https://www.restaurantdive.com/news/RBI-buys-Carrols-Restaurant-Group-1B/704565/) - Wolverine World Wide sells Sperry to Authentic Brands Group for $70M [CNBC](https://www.cnbc.com/2024/01/11/wolverine-world-wide-sells-sperry-to-authentic-brands-group.html) - TikTok owner ByteDance in talks with Tencent, others to sell gaming assets [Reuters](https://www.reuters.com/markets/deals/tiktok-owner-bytedance-talks-with-tencent-others-sell-gaming-assets-2024-01-09/?utm_source=www.execsum.co&utm_medium=newsletter&utm_campaign=the-eu-is-probing-microsoft) - Kosas Taps Bankers to Explore Sale [The Information](https://www.theinformation.com/articles/kosas-taps-bankers-to-explore-sale-as-beauty-startup-m-a-heats-up?utm_campaign=RTSU+-+Automated+Flo&utm_content=904&utm_medium=email&utm_source=cio&utm_term=77) - Puig Acquires Dr. Barbara Sturm [WWD](https://wwd.com/beauty-industry-news/beauty-features/puig-purchases-dr-barbara-sturm-1236119585/?cx_testId=5&cx_testVariant=cx_1&cx_artPos=1#cxrecs_s) - Harry Styles Invests in British Brand S.S. Daley [WWD](https://wwd.com/business-news/mergers-acquisitions/harry-styles-invests-british-brand-ss-daley-1236120561/) - Compass Diversified to Acquire Majority Stake in The Honey Pot [WWD](https://wwd.com/beauty-industry-news/wellness/compass-diversified-acquire-majority-stake-the-honey-pot-1236129007/)   ## **INDUSTRY NEWS** **CPG** Consumer spending growth will slow in 2024, economist predicts Consumer spending has remained remarkably resilient, but that’s unlikely to continue, says Jack Kleinhenz, chief economist at the National Retail Federation. [CNBC](https://www.cnbc.com/2024/01/10/consumer-spending-growth-will-slow-in-2024-nrf-chief-economist-says-.html)   ![](https://www.retaildive.com/imgproxy/P_c8xlaHPMoXCnWM_vs1Tdzu9-weC8TV5Lez2qWFxxA/g:ce/rs:fill:1200:675:1/bG9jYWw6Ly8vZGl2ZWltYWdlL2JsdWVsYW5kXzE5MDcxMF9zaG90MDlfNTM3LmpwZw.jpg) Blueland available in all 515 Whole Foods locations The move further expands the reach of the DTC cleaning brand, which is also sold through Costco, Meijer, Target and others. [Retail Dive](https://www.retaildive.com/news/blueland-available-all-whole-foods-stores/704166/)   In the Ozempic Age, Has ‘Craveable’ Lost Its Selling Power? The food industry has long touted its products as impossible to resist. But with a spotlight on the perils of compulsive eating, that tactic is getting another look. [NYT](https://www.nytimes.com/2024/01/16/dining/food-marketing-ozempic-era.html)   DTC skin care brand Curology launches on Amazon Following its entrance into physical retail in late 2022 through its partnership with Target, the brand continues to expand its distribution network. [Retail Dive](https://www.retaildive.com/news/curology-launches-amazon-dtc-skincare/704428/)     **RETAIL** Mango plans to open 500 new stores by 2026 The apparel brand, which is celebrating its 40th anniversary, will expand and launch stand-alone Mango Home locations. [Retail Dive](https://www.retaildive.com/news/mango-to-open-500-new-stores-by-2026/703971/)   Why Abercrombie & Fitch and American Eagle Are Racing Ahead of the Competition The chains are exceeding sales expectations in a choppy market by giving young shoppers the products they want, in just the right amount. [BoF](https://www.businessoffashion.com/articles/retail/why-abercrombie-and-fitch-and-american-eagle-are-doing-well/)   REI plans a dozen new stores in coming months The outdoor retailer will open 10 this year and already has plans for two more in 2025 as well. [Retail Dive](https://www.retaildive.com/news/rei-store-openings-strategy/704309/)   CVS to close ‘select’ pharmacies in Target stores in the coming months Retail pharmacy chains in the U.S. struggle to boost profits. The closures will begin in February and finish by the end of April. [CNBC](https://www.cnbc.com/2024/01/11/cvs-to-close-select-pharmacies-in-target-stores-in-the-coming-months.html)   All Showfields stores will close for good on Saturday The company, now in bankruptcy, has showcased DTC brands, which until recently have largely avoided wholesale partnerships or physical retail. [Retail Dive](https://www.retaildive.com/news/showfields-dtc-department-stores-closing/704453/)   Renting Clothes Was Supposed to Be the Future of Fashion. Then Shoppers Got Bored. Rent the Runway and Stitch Fix are adapting their business models to retain customers as needs and tastes have changed. [WSJ](https://www.wsj.com/business/retail/rent-runway-stitch-fix-business-models-6db18bbd)   IKEA prices to fall despite Red Sea disruptions, CEO says  Ingka Group has invested more than 1 billion euros ($1.1 billion) in price reductions across its markets from September to November, and aims to continue lowering prices in 2024. [Reuters](https://www.reuters.com/business/retail-consumer/ikea-prices-fall-despite-red-sea-disruptions-group-ceo-says-davos-2024-01-15/)   Shoppers Prefer Staying Outdoors. That’s More Trouble for Malls. Bath & Body Works, Foot Locker are among retailers ditching malls for strip centers, other shopping outlets. [WSJ](https://www.wsj.com/real-estate/commercial/shoppers-prefer-staying-outdoors-thats-more-trouble-for-malls-dd1da601)     **MEDIA & TECH** **![Walmart app and someone pressing the screen with their finger.](https://a57.foxnews.com/static.foxnews.com/foxnews.com/content/uploads/2023/10/1200/675/1-walmart-app.jpg?ve=1&tl=1)** Walmart Expands Rollout of Generative AI Shopping Search Walmart Inc. opened up access to a generative artificial intelligence tool that allows shoppers to search for products by specific use cases, rather than look up one item at a time. [Bloomberg](https://www.bloomberg.com/news/articles/2024-01-09/walmart-wmt-expands-rollout-of-generative-ai-shopping-search-tech?embedded-checkout=true)   Amazon cuts hundreds of jobs in Prime Video and MGM Studios The online retail behemoth last year cut more than 27,000 jobs as part of a wave of U.S. tech layoffs after the industry hired heavily during the pandemic. [CNBC](https://www.cnbc.com/2024/01/10/amazon-layoffs-hundreds-of-jobs-cut-in-prime-video-and-mgm-studios.html)   OpenAI Unveils App Store for Custom Chatbots People who subscribe to OpenAI’s ChatGPT Plus service will be able to browse the new store for tailored chatbots that perform different tasks. [NYT](https://www.nytimes.com/2024/01/10/technology/openai-app-store-chatgpt.html)   Google lays off hundreds in Assistant, hardware, engineering teams Google said it will lay off hundreds at its Voice Assistant unit, while a few hundred roles are being eliminated in the hardware team responsible for Pixel, Nest and Fitbit, with the majority of people in the augmented reality (AR) team being let go. [Reuters](https://www.reuters.com/technology/google-lays-off-hundreds-working-assistant-software-other-parts-company-2024-01-11/)   As Disney pushes toward streaming profitability, Pixar to undergo layoffs in 2024 The studio stressed the layoffs are not imminent, but will take place later this year as Pixar focuses on making less content. [TechCrunch](https://techcrunch.com/2024/01/11/as-disney-pushes-towards-streaming-profitability-pixar-to-undergo-layoffs-in-2024/)   Uber shutting down alcohol delivery service Drizly Uber has decided to shutter Drizly, an alcohol delivery service it bought three years ago for $1.1 billion. [Axios](https://www.axios.com/2024/01/15/uber-drizly-acquisition-shutters)     **RESTAURANTS & HOSPITALITY** How Qdoba is plotting growth in Chipotle’s shadow Chipotle’s company-owned business model has left a franchised-shape hole in the Mexican fast casual sector. Qdoba wants to fill it. [Restaurant Dive](https://www.restaurantdive.com/news/how-qdoba-is-plotting-franchise-growth-in-chipotles-shadow/704333/)     COMINGS & GOINGS - Rothy’s Names Jenny Ming CEO [WWD](https://wwd.com/business-news/retail/rothys-resets-leadership-jenny-ming-named-ceo-1236112907/) - Solo Brands Appoints Christopher T. Metz as President and Chief Executive Officer [Yahoo](https://finance.yahoo.com/news/solo-brands-announces-leadership-change-115000462.html) - Amika Names Chelsea Riggs as CEO [Happi](https://www.happi.com/contents/view_breaking-news/2024-01-10/amika-names-chelsea-riggs-as-ceo-481258/) - Under Armour Names New Chief Product Officer, President of Americas [WWD](https://wwd.com/business-news/human-resources/under-armour-new-hires-stephanie-linnartz-product-1236120914/) - Andy Campion, Nike’s managing director of strategic business ventures, to exit [Retail Dive](https://www.retaildive.com/news/nike-executive-andrew-campion-exits/704328/) - Blackstone Names Global Co-CIOs [WSJ](https://www.wsj.com/business/deals/blackstone-taps-two-firm-veterans-to-help-oversee-trillion-dollar-asset-pile-5e72fa7c?mod=business_feat2_deals_pos1) - Sephora Names New Global Chief Digital Officer [Happi](https://www.happi.com/contents/view_breaking-news/2024-01-15/sephora-names-new-global-chief-digital-officer/20556) - Lululemon names Jonathan Cheung as global creative director [Fashion Network](https://ww.fashionnetwork.com/news/Lululemon-names-jonathan-cheung-as-global-creative-director,1594370.html)   GOOD READS  - 4 Key Consumer Behavior Questions That Will Shape 2024 [Forbes](https://www.forbes.com/sites/nikkibaird/2024/01/11/4-key-consumer-behavior-questions-that-will-shape-2024/?sh=6dad085d466b) ### Subscribe Here! 477 Madison Avenue, 18th Floor New York, NY 10022 (646) 723-2990 [info@traub.io](mailto:info@traub.io) ![TRAUB](https://blog.traub.io/hubfs/TRAUB_September2019/Image/traub-logo.png) - [Who We Are](http://traub.io/who-we-are/) - [What We Do](http://traub.io/what-we-do/) - [Meet Our Team](http://traub.io/our-team/) - [See Our Work](http://traub.io/case-studies/) - [Read Our Content](http://traub.io/read-our-content/) - [Traub Capital](https://www.traub-capital.com/) Traub © 2023