Weekly Consumer News Roundup // March 5, 2024

This week, Whole Foods is rolling out smaller convenience stores around NYC, CPG giants are reevaluating their portfolios in response to weight loss drugs, and more.

WORDS FOR THE WEEK

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M&A and INVESTMENTS

• Reliance, Disney to merge India media assets to create $8.5 billion powerhouse Reuters
• JetBlue, Spirit end $3.8 billion merger agreement CNBC
• Oishii raises $134M in Series B funding The Packer
• Warner Bros. Discovery halts merger talks with Paramount Global CNBC
• LVMH Is in Talks to Acquire Paris Match WWD
• Zulily IP assets put up for sale Retail Dive
• Beiersdorf Acquires Real Estate Assets of Clinique La Prairie in Montreux Happi
• Orangetheory Fitness and Self Esteem Brands to Merge in All Stock Deal SGB Media
• Hoxton Hotels Owner Ennismore Said to Seek Capital for Expansion Bloomberg
• Essence in Talks to Buy Refinery29 From Embattled Publisher Vice Media WSJ

INDUSTRY NEWS

CPG

Coca-Cola’s Topo Chico expands into non-alcoholic mixers

The Ginger Beer, Tonic Water and Club Soda offerings further the beverage giant’s expansion of the mineral sparkling water and bring it closer to becoming a $1 billion brand. Food Dive

Why stores and brands are shrinking product options

The endless aisle of options at the store is shrinking as brands cut inventory, focusing on bestsellers to boost their profits. Axios

The Ozempic effect: CPG giants are reevaluating their portfolios in response to weight loss drugs

The skyrocketing demand for GLP-1 diabetes treatments that curbs appetites and help lose weight could threaten sales for food and beverage companies. To avoid losing out on sales, more CPG conglomerates have been releasing new products that specifically cater to people who are managing their weight. Modern Retail

RETAIL

No Let Up At Off-Price Giant TJX As Retailer Tops $50 Billion Sales

The TJX Companies has announced record-breaking full-year sales of over $50 billion and is nearing 5,000 stores globally, as the off-price giant plans to buy back shares. Forbes

Warby Parker eyes 40 new stores as it closes 2023 with revenue up 12%

The vision brand, which operates 237 stores, still sees the opportunity for at least 900 locations, but wants its e-commerce business to return to growth. Retail Dive

The RealReal to Open New Stores in Strategic Shift

Luxury reseller looks to expand to 30 stores in the next few years. WSJ

Whole Foods is launching mini-stores for quicker shopping trips

Whole Foods Market Daily Shop stores will be about a quarter of the size of the grocer's normal locations and based in "dense, metropolitan areas." Business Insider

Studs plots 10 store openings this year

The piercing company on Friday opened its 23rd store located in New York City’s Rockefeller Center. Retail Dive

Target’s sales fell for the first time in 7 years

Target, a barometer of the American consumer, said its sales last year fell for the first time since 2016. Now it’s predicting a sluggish 2024 as shoppers are weighed down by higher prices. CNN

The former Westfield San Francisco Centre rebranding to ‘Emporium’

Rehabilitating the embattled shopping center, whose new name evokes a long-ago West Coast department store, will take a lot of effort. Retail Dive

MEDIA & TECH

World’s Biggest Music Company Deploys the ‘Nuclear Option’ Against TikTok

Universal’s showdown with the platform is testing the value of the seconds-long song snippet—and who has the most power in today’s music economy. WSJ

Dating app Bumble to lay off about 37% of workforce as it looks to drive growth

Online-dating company Bumble Inc. will lay off approximately 350 workers — about 37% of its workforce — as part of a restructuring plan. MarketWatch

The world’s largest cinema chain, aiming to pull out of a slump, is tweaking the way we watch movies

To aid its recovery, AMC is diversifying its in-theater offerings, cutting more deals with musicians for concert films, juicing ticket prices by adding higher-end viewing experiences and closing, renovating or relocating theaters. CNN

Meta plans launch of new AI language model Llama 3 in July

Meta Platforms is planning to release the newest version of its artificial-intelligence large language model Llama 3 in July which would give better responses to contentious questions posed by users. Reuters

Why Musicians Are Doubling Down on an Unlikely Venue to Reach New Listeners

Artists are signing deals with game companies to debut new songs through interactive events and as background music for games themselves, in some cases weeks before those tracks are released on the likes of Spotify. WSJ

RESTAURANTS & HOSPITALITY

Hotel Staff Shortages Threaten to Push Travel Costs Even Higher

Room rates look poised to rise as owners pass on escalating wage costs. WSJ

N.Y.C.’s Central Park Boathouse Is Reopening With a New Menu of Refined American Classics

The revamped restaurant will serve favorites like oysters Rockefeller, prime rib, and cheesecake. Robb Report

Cava plots ‘3.0’ store design as Q4 revenue soars 52%

The fast-growing Mediterranean chain wants to make its restaurants more comfortable and inviting for customers, 64% of whom order in-store, to bolster sales. Restaurant Dive

Panera Bread is overhauling its menu

Panera is making changes to its menu and slimming down its dinner offerings to focus on breakfast and lunch. The restaurant chain is rumored to go public this year following a previous attempt. CNN

Why Luxury Skiing in the Alps Is Getting Even Ritzier

To attract high rollers now that snow conditions often fall short, posh European resorts must offer more than heli-skiing. Think: ‘ski butlers,’ rentable mansions and more. Robb Report

COMINGS & GOINGS

• Qurate’s HSN Unit Taps Stacy Bowe as President WWD
• Boston Beer CEO Burwick to Retire as U.S. Brewers Face Market Shifts WSJ
• Life Time Appoints Andre Agassi as Chair of Pickleball and Tennis Board SGB Media
• Netflix Names Dan Lin Its Top Movie Executive NYT
• Oprah is leaving WeightWatchers CNN
• Stuart Hill exits MATCHES for CEO role at DHL theindustry.fashion