Weekly Consumer News Roundup // February 20, 2024

Here's our weekly roundup of recent consumer and retail news. This week, Walmart hits $100 billion in e-commerce sales, Away, Nike and Instacart announce layoffs, and more.


IMG_5432 (1)

For more inspiration, visit @dailystoic and @dailyphilosopher on Instagram. 



  • Capital One Is Buying Discover Financial for $35 Billion WSJ
  • Walmart to Buy TV Maker Vizio for $2.3B Axios
  • RedBird IMI to Buy All3Media for £1.15 Billion Bloomberg
  • DraftKings to Buy Jackpocket for $750 Million WSJ
  • Rod Stewart Sells Song Catalog for Nearly $100 Million WSJ
  • Windsong Global Forms Belle Brands To Grow JVN Hair and Pipette Acquisitions Happi
  • Rind Snacks acquires Small Batch Organics Food Business News
  • True Religion explores a sale CNBC
  • Guess and WHP Cut Deal to Buy Rag & Bone WWD
  • Ozark Holdings to acquire Whole Earth Brands Food Business News
  • The Children’s Place investor Mithaq Capital takes majority stake Retail Dive



  • A top exec at Kim Kardashian’s new private equity fund once made it her mission to persuade Apple’s Tim Cook not to hire her. It didn’t work. Fortune
  • The Return Grift Is Over The Cut
  • The Insatiable Ambition of LeBron James WSJ
  • How Ozempic Could Generate New Categories In Food, Beauty, Apparel Forbes




Squishmallows has launched a legal fight against Build-A-Bear

Squishmallows, says Skoosherz, a new toy made by Build-A-Bear Workshop is too similar to its own egg-shaped cushion animal characters. BBC


Away Just Cut 25 Percent of Its Staff

As it enters its ninth year, the luggage company is reorganizing its executive team and doubling down on new product development in an effort to prioritize profitability. Inc.


Hasbro CEO: Tougher Trends Set to Persist in 2024

Chief Executive Chris Cocks expects declines in sales of its toys to be concentrated in the first half of the year, with stabilizing sales in the third quarter and growth in next year’s holiday season. WSJ


Kraft Heinz sales dip with some consumers swapping out brand name favorites

Sales slipped during the fourth quarter for Kraft Heinz as some customers, pinched by a bout of inflation, traded down to cheaper brands or did not buy as much. CBS

Target is launching Dealworthy, a new value brand.

Target creates its cheapest in-store brand as spending dips

Target is taking aim at budget-conscious customers with a new value brand "Dealworthy" with prices for everyday basics that start at less than $1. CNN


Why ‘restaurant CPG’ will grow in the US but won’t disrupt the status quo

Restaurant CPG is fast becoming a legitimate competitor to big and emerging brands in the battle for shelf space. Just Food


Liquid Death expands into electrolyte drink mixes

The launch allows the fast-growing canned water and tea maker to enter a new category and further build out its healthy beverage platform. Retail Dive


Low-sugar Greek yogurt sales are booming in the Ozempic era

The low-sugar yogurt segment grew 17.9% year-over-year and sales increased from $1.88 billion to $2.2 billion, Chobani shared, citing Nielsen data. Axios




Retail sales tumbled 0.8% in January, much more than expected

Consumer spending fell sharply in January, presenting a potential early danger sign for the economy, the Commerce Department reported Thursday. CNBC


Skechers U.S.A. Completes a Retail 5K on Way to Store Number 10,000

Skechers U.S.A., Inc. reported surpassing 5,000 Skechers-branded retail stores throughout over 120 countries. The key openings leading up to the milestone were in Chile, Greece, India, Mexico, South Korea, the United States, and the 5,000th store in Bogotá, Colombia. SGB Media


Retailers Invest In Physical Stores Despite Slower U.S. Consumer Spending

Although consumer demand was soft in January, retailers are continuing to invest in physical stores. Walmart, Dick's and Sephora have big expansion plans for stores. Forbes


Nike to lay off 2% of employees, cutting more than 1,500 jobs during broad restructuring

The sneaker giant is contending with a slowdown in consumer spending and looking to save $2 billion over the next three years as part of a restructuring plan. CNBC


The British ‘King of Trainers’ Takes On the Land of Sneakers

Retailer JD Sports thinks it can conquer a depressed U.S. market with its sportswear-as-fashion concept. WSJ


Walmart Hits $100 Billion In E-commerce Sales for 2023

The company topped off the year with a strong fourth quarter, but sees revenue growth moderating in 2024. WWD


Why Costco is so loved

Costco is the world’s third-biggest retailer, behind Walmart and Amazon. Though its sales are less than half of Walmart’s, its return on capital, at nearly 20%, is more than twice as high. The Economist


The beauty sections of off-price retailers are getting an elevated makeover

Stocked with deeply-discounted Byredo, Laneige, Kevyn Aucoin, Clinique, Benefit and Mario Badescu, among dozens of other brands, discount department stores’ beauty sections look more like Ulta Beauty or Sephora than ever before. Glossy




Instacart to lay off 250 employees, or about 7% of the company, as part of restructuring

Instacart on Tuesday announced it would lay off about 250 employees, or roughly 7% of the company, alongside reporting fourth-quarter earnings that fell roughly in line with analysts’ estimates. CNBC


Revlon brings lipstick shades to home design game Redecor

Players will be able to use colors from the beauty brand’s Super Lustrous lipstick collection, with more shades on the way. Retail Dive


Is Amazon Too Powerful For Gen Z?

While Amazon maintains its position as the most-shopped brand for US online shoppers at 84%, per Mintel, some demographics, like Gen Z, have multifaceted and evolving opinions of the e-commerce giant. Happi




Wendy’s is adding "Cinnabon Pull-Aparts" to its breakfast menu later this month.

Wendy’s newest breakfast item is made by another fast-food chain

Beginning February 26, Wendy’s is partnering with Cinnabon to add a new a cinnamon roll-like baked good to its morning menu, marking a unique partnership between two chains that often compete for similar price-conscious customers. CNN


Shake Shack stock surges 20% on fourth-quarter profit, strong 2024 outlook

For 2024, Shake Shack expects to grow total revenue by 11% to 15% and open 80 new restaurants. CNBC


Surging restaurant prices are making dining out a luxury

Prices for groceries are up 1.2% year over year, while the price of food consumed at restaurants is up 5.1%. CNN


Restaurant Brands International targets 40K stores globally by 2028

The Burger King and Tim Hortons owner plans to grow its global footprint by 9,000 stores by 2028, driven by international development and strengthened home-market performance. Restaurant Dive




  • CVC co-founder Donald Mackenzie bows out before planned IPO Financial Times
  • José Neves Steps Down as Farfetch CEO in Shakeup at Coupang WWD
  • Canva CFO Damien Singh Leaves Ahead of Potential IPO The Information 
  • Funko president resigns Retail Dive