Weekly Consumer News Roundup // March 26, 2024

This week, Walmart caters to wealthier customers, Krispy Kreme donuts are coming to McDonald’s, and more.

WORDS FOR THE WEEK

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M&A and INVESTMENTS

• Apollo Offers $11 Billion for Paramount’s Hollywood Studio WSJ
• Shareholders approved Digital World Acquisition Corp’s $5.7B merger with Trump Media & Technology Group Reuters
  
• Vista Outdoor gets improved $3 bln bid from MNC Capital Reuters
• CVC-Backed Perfume Retailer Douglas Raises $967 Million IPO Bloomberg
• WeWork co-founder Adam Neumann offered to purchase the bankrupt company for ~$600M Financial Times
• Carlyle buys Seattle Reign FC for $58M, as women's soccer team sales surge Axios
• FabFitFun acquires PupBox from Petco Retail Dive
• Samsonite Considering U.S. for Potential Second Listing WSJ
• Sazerac acquires RTD cocktail brand BuzzBallz Food Dive
• Canva acquires design software provider Affinity Fortune

CULTURE/GOODREADS

• How to bring in a new CEO as a founder-led brand Modern Retail
• What a Fashion Company Is Worth Today BoF

INDUSTRY NEWS

CPG

From Coke to Hershey, CPGs search for their sweet spot in pack size

Consumers are increasingly interested in smaller portion sizes, as well as value-priced multipacks, for their snacks and soda. These changing sizes can have implications from production to recycling. Food Dive

DoorDash doubles down on beauty with Sally Beauty, MAC Cosmetics deal

The delivery platform, which is also expanding a partnership with Sephora, has added more than 400,000 beauty and personal care products since 2021. Retail Dive

Chips Ahoy! to debut new cookie recipe with improved chocolate chips

The recipe improvement aims to bolster a core brand in the sweets and snack aisles of American supermarkets. CNN

Selena Gomez’s Rare Beauty Exploring an IPO or Sale as Net Sales Cross $400 Million

The colour cosmetics line is one of the most successful to come out of the celebrity beauty boom. An exit would likely touch off a bidding war. BoF

Boston Beer brings Truly into tequila soda to help revive brand

The alcohol company is betting on the interest in RTD cocktails to help usher in a new period of growth for the beverage as it struggles to rebound from a slump in hard seltzer demand. Food Dive

Pressure Eases on Nike, But Problems Remain

The sportswear giant posted flat sales in its latest quarterly report, beating Wall Street expectations. To fully recover, the business must demonstrate greater product innovation, analysts say. BoF

Could a looming chocolate crisis shake Easter after cocoa prices doubled?

The latest surge in cocoa futures has yet to reach the retail shelves, but as demand for chocolate stays strong and supply uncertainty persists, candy makers stand ready to pass on added costs to consumers. MarketWatch

Just Ice Tea sales heat up a segment abandoned by Coca-Cola

Sales of the organic, less sweet offering are expected to top $20 million this year by tapping into many of the attributes that made its predecessor Honest a success. Food Dive

RETAIL

Why retailers like Target and Dollar General are limiting self-checkout

With many shoppers back to their pre-pandemic habits, retailers are starting to reverse course on self-checkout. Here's what changes the biggest players are making and how they will impact shoppers and employees alike. Modern Retail

Nordstrom, Macy's deals could put private ownership back in vogue for US retailers

America's biggest publicly traded department store chains could be set for private-equity or hedge-funds ownership, dramatically changing the retail landscape in the United States. Reuters

Untuckit to open 14 new stores in 2024

The DTC apparel brand said the first seven stores will open by May across California, Georgia, Florida, New Jersey and New York. Retail Dive

Kohl’s expands home goods assortment by 40%

The department store sees opportunity despite stubborn declines in the market since the height of the pandemic. Retail Dive

US Retail Sales to Rise at a Slower Pace in 2024, Says NRF

The organization expects total sales to rise 2.5% to 3.5% to between $5.23 trillion and $5.28 trillion for the year. Reuters

DTC brands are recalibrating their physical store strategies

DTC brands like Allbirds, Outdoor Voices and Purple are making adjustments to their physical retail strategies to improve their balance sheets. Modern Retail

Race For Space As Boston, Miami And Raleigh Have Lowest Vacancy Rates

Retailers looking to move into the Boston, Miami and Raleigh, North Carolina areas better be ready to move fast as the three have the lowest retail vacancies in the U.S. Forbes

Wagyu-mart? Inside Walmart’s Bold Plan to Lure Luxury Shoppers

The retailer is revamping over 800 U.S. stores to cater to wealthier customers. Robb Report

Outdoor Voices Bankruptcy Imminent According to Insiders

After shuttering all of its stores on Sunday, Outdoor Voices is headed for bankruptcy, employees say. WWD

How LVMH Helped Turn an Abandoned Miami Warehouse District Into a Luxury Hot Spot

Once-shabby neighborhood is booming while some other High Streets across the country still struggle. WSJ

Amazon Expands Same-Day Pharmacy Delivery to New York, Los Angeles

Online shopping giant seeks to make prescription delivery as convenient as its traditional shipments. WSJ

MEDIA & TECH

With TikTok Under Fire, Brands That Rely on It Worry

Many companies, particularly in the beauty and fashion industries, have boosted sales through the platform. They don’t really have a backup plan. NYT

Reddit Shares Soar in Long-Awaited IPO

Reddit shares surged 48% from the offer price in their stock-market debut Thursday, an endorsement for the oftentimes irreverent social-media company and an encouraging sign for other companies that have been waiting to go public. WSJ

RESTAURANTS & HOSPITALITY

Pepsi replaces Coca-Cola as Subway's drink provider starting 2025

Subway will begin serving Pepsi beverages like Mountain Dew and Gatorade in the U.S. next year after reaching a 10-year deal. USA Today

Gen Z and Millennials Are Traveling to Attend Sporting Events

The rise of sports tourism in major global cities has become a new consumer behavior trend. WWD

Unlocking The $50 Billion Hotel Toiletries Market: A Guide For Personal Care Brands

The post-pandemic travel surge has boosted the hospitality and hotel toiletries markets, offering personal care brands a new sales channel worth diving into. Forbes

Chick-fil-A will stop using its ‘no antibiotics ever’ label on chicken

Citing diminishing chicken supply, Chick-fil-A will back off its pledge never to serve chicken that was fed antibiotics, and instead it will embrace a looser industry standard: “no antibiotics important to human medicine.” CNN

Krispy Kreme donuts are coming to McDonald’s

McDonald’s is planning to sell Krispy Kreme doughnuts at its restaurants nationwide by the end of 2026, the chains announced Tuesday. CNN

COMINGS & GOINGS

• Smashburger appoints Starbucks veteran as CEO Restaurant Dive
• Toni Belloni, LVMH Managing Director, will step down, hand over duties to Stéphane Bianchi WWD
• Shake Shack hires Papa Johns’ Rob Lynch as CEO Restaurant Dive
• Valentino, Pierpaolo Piccioli Parting Ways WWD
• Estelle Létang Named CEO of La Prairie Group AG Happi
• Boeing CEO Dave Calhoun to step down Yahoo
• Red Lobster appoints another CEO Restaurant Dive
• Nike hires Tim Hamilton as VP of men’s apparel design Retail Dive
• LVMH Names New Chief Data & AI Officer Happi