Weekly Consumer News Roundup // March 12, 2024

This week, Sweetgreen and Cava’s earnings outperform in the fast-casual category, Frasers Group shutters Matchesfashion, and more.

WORDS FOR THE WEEK

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

M&A and INVESTMENTS

• Carlyle launches sale of Japanese cosmetics supplier Tokiwa in $800 million deal Reuters
• Liquid Death raised a $67M round at a $1.4B valuation Food Dive
• Beyond, Inc. Acquires Ecommerce Pioneer Zulily for $4.5 million Yahoo
• Nikon buys cinema camera maker RED TechCrunch
• Razor maker Harry's files for IPO Reuters
• Ashley Home acquires Resident Home Retail Dive
• Kering and EssilorLuxottica possible suitors for Italy's Marcolin Reuters
• Style Capital Is Buying a Majority Stake in Sneaker Brand Autry WWD
• Chanel buys French clothing group JY BH Fashion Network
• Sugar Foods acquires Concord Foods Food Business News

CULTURE/GOODREADS

• How Kim Kardashian’s Skims Could Wake Up Wall Street WWD
• What’s driving the national retail trend toward smaller stores? Business of Home
• Gen Z broke the marketing funnel Vogue Business

INDUSTRY NEWS

CPG

Barbie Is Turning 65, And Mattel Is Betting On A Birthday Sales Boost

Mattel has lined up more than 40 partnerships with brands, and is teaming up with major retailers to sell 65th anniversary themed merchandise. Forbes

Brands are trying to recast household products like showerheads & humidifiers as beauty tools

From filtered showerheads to aroma-diffusing humidifiers, startups are tapping into the trend of turning home appliances and fixtures into beauty and wellness tools. Modern Retail

Target launches private label toy brand

The retailer’s Gigglescape assortment will offer stuffed animals, books and games priced at $20 or less. Retail Dive

Global Legal Cannabis Market Expected To Reach $58 Billion In 2028

A top cannabis researcher is predicting that the global legal market will hit $58 billion in 2028 and much of that will be driven by adult sales in the U.S. market. Forbes

How Whole Foods’ decisions impact CPG-retailer partnerships

Amazon has announced that Whole Foods will be opening five downsized stores in NYC called “Whole Foods Market Daily Shop.” As the concept continues to grow, new changes are likely to come to how other brands are distributed. Modern Retail

Why Merch Madness Is Taking Over Beauty

From Rhode's lip case to Milk Makeup's newest Reebok collaboration, beauty brands are increasingly building hype and personality through merch. WWD

Consumer spending rebounded in February, according to the CNBC/NRF Retail Monitor

Consumer spending bounced back in February from a January dip, with a little help from leap day. But sales still registered good gains even after correcting for that extra spending day. CNBC

RETAIL

Abercombie & Fitch Reports 21% Leap in Q4 Sales, Expects Strong 2024

The youth specialty retailer beat its own expectations last quarter and is outperforming competitors. WWD

Target Aims for Turnaround After First Sales Decline Since 2016

Target is betting that its plans to upgrade stores, refresh a membership program and expand private brands can help it rebound from a rocky 2023. WSJ

Citing momentum over the holidays, Nordstrom moves deeper into off-price

The retailer will open even more of its Rack stores this year than in 2023, but analysts warned that its full-line business also requires attention. Retail Dive

Primark Continues U.S. Expansion with New DC and Four Store Leases

The international clothing retailer continues its global expansion by opening a new distribution center in Jacksonville, FL, and will open new stores in Virginia, Maryland, Texas, and its first store in Tennessee. SGB Media

Walmart opens new front in same-day delivery war

Intensifying consumer demand for instant gratification — like having everything from milk to a barbecue grill delivered in hours — is putting pressure on all retailers. Axios

Frasers Group Shuts Matches Two Months After Purchasing It for 52 Million Pounds

Frasers is placing London retailer Matches into administration in another blow for online luxury retail. WWD

‘Foot traffic is incredible’: Midtown Manhattan is once again a retail hot spot

Although foot traffic tanked during Covid, Midtown is getting back up and running. Now, all types of brands and retailers are making the move to central Manhattan. Modern Retail

Gap shares pop as company’s holiday earnings blow past estimates, Old Navy returns to growth

Old Navy and Gap have seen signs of progress but Banana Republic and Athleta are still dragging down sales and profits. CNBC

Aldi unveils expansion with 800 new stores in 5 years

The nation's fastest-growing grocery chain's expansion will "ramp up the competitive pressure in the grocery market." Axios

Kohl’s brings in Babies R Us after rough holiday quarter

The struggling department store is increasingly relying on other brands, including Amazon and Sephora, to draw customers to its stores. Retail Dive

MEDIA & TECH

Mike Tyson vs. Jake Paul: Netflix Bets Big on Live Boxing

In its latest foray into the business of live sports, Netflix will livestream a boxing match featuring former heavyweight champ Mike Tyson and YouTube star-turned-boxer Jake Paul. WSJ

Oura starts selling its products on Amazon

The company is trying to expand its retail and e-commerce footprint as competition in the smart ring space is heating up. TechCrunch

RESTAURANTS & HOSPITALITY

Cinemas may be dying. But IMAX and the high end are thriving

IMAX’s success points to a growing niche in a shrinking industry. Economist

Why Sweetgreen and Cava’s earnings are outperforming much of the fast-casual category

Greens are a staple of the menus at both Cava and Sweetgreen, and green is what both fast-casual restaurants seem to be rolling in, according to recent earnings reports. And their growth is all the more noteworthy because the economy appears to have stymied the broader fast-casual category. Retail Brew

Miami Beach Has a Message for Rowdy Spring Breakers: Don’t Come Here

An ad campaign by the popular spring break destination says visitors can expect curfews, beach closures and arrests for drug possession. WSJ

Two major U.S. chain restaurants could combine and share dining spaces

Applebee's and IHOP, both owned by Dine Brands Inc., may soon have dual-branded locations that share a back-of-house and a blended front-of-house, according to an earnings call from the company last week. CBS News

‘It doesn’t feel special’: is Soho House a victim of its own success?

Chain of private members’ clubs under pressure as it reports full-year results this week, with some claiming rapid expansion has robbed it of its exclusivity. Guardian

Surge Pricing Is Coming to More Menus Near You

Restaurants experiment with technology that can move prices up and down based on demand and staffing; ‘a little sales boost to offset our costs’. WSJ

A $400 Million Bet Says This Is the Mall of the Future

Pickleball, luxury apartments, a hotel and more are breathing new life into America’s oldest mall. WSJ

COMINGS & GOINGS

• Pierre-Emmanuel Angeloglou becomes managing director of LVMH Fashion Group WWD
• Valérie Duport Is Exiting Kering WWD
• Noodles & Company names Drew Madsen CEO Restaurant Dive
• JDE Peet’s names interim CEO Food Business News
• Macy’s, Inc. Hires VP to Lead Macy’s Media Network SGB Media