Weekly Consumer News Roundup // April 30, 2024

This week, Walmart launches new premium food brand Bettergoods, eye-catching "better-for-you" soda startups are trying to disrupt the $110 billion soft drink market, and more.

WORDS FOR THE WEEK

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M&A and INVESTMENTS

• L’Occitane Chairman Launches Buyout at €6 Billion Valuation Bloomberg
• NBC Prepares $2.5-Billion-a-Year Bid to Pluck NBA Rights From TNT WSJ
• General Mills explores sale of $2 billion-plus yogurt business in North America Reuters
• Blackstone to buy restaurant chain Tropical Smoothie Cafe for ~$2B Reuters
  
• Blackstone beats Concord with $1.6 bln bid for Hipgnosis Songs Reuters
• Simply Good Foods to acquire Purchase Capital-backed OWYN for $280m PE Hub
• Protein snack maker Wilde raises $20M Axios
• PZ Cussons to Sell St. Tropez, the Self-tan Brand WWD
• L Catterton Acquires Majority Stake in Kiko Milano WWD
• The Onion Is Sold by G/O Media NYT
• Brix Holdings to buy Clean Juice Restaurant Dive
• Wrexham owners Reynolds and McElhenney buy into Necaxa ESPN
• Barry’s Bootcamp Explores Strategic Options Including a Sale Bloomberg

CULTURE/GOODREADS

• With Inflation This High, Nobody Knows What a Dollar Is Worth NYT
• You Know LVMH for Its Luxury Bags. It’s Also a Titan of Real Estate. WSJ
• What's behind the unstoppable American consumer Axios

INDUSTRY NEWS

CPG

Coke, Pepsi, or organic blueberry? Eye-catching "better-for-you" sodas reignite the cola wars

Startups are trying to disrupt the "big three" soda makers, which dominate the $110 billion market for soft drinks purchased in supermarkets and convenience stores. Axios

Impossible Foods secures ‘highly anticipated’ retail deal with Whole Foods

The pioneering plant-based food company is looking to expand distribution points to “make the food more accessible and more available.” Food Dive

How Supplement Stores Are Trying to Tap Into the Ozempic Boom

GNC and the Vitamin Shoppe are redesigning displays and taking other steps to appeal to people who are taking or are interested in drugs like Ozempic and Wegovy. NYT

RETAIL

Amazon launches low-cost grocery delivery subscription plan in US

The subscription plan would allow Amazon's Prime members to get unlimited grocery delivery at $9.99 per month on orders over $35 from Whole Foods Market, Amazon Fresh, and other local grocery and specialty retailers on the platform. Reuters

Foot Locker debuts ‘store of the future’ as it looks to win back Wall Street’s confidence

Foot Locker debuted its new “store of the future” concept that will be rolled out in five cities and inspire the revamping of 900 stores the sneaker retailer is planning over the next two years. CNBC

Brands Owed Millions After Matchesfashion Collapse

Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after online fashion site Matchesfashion collapsed owing more than £210m last month. BoF

The Tricky Logistics Behind Direct-to-Consumer Sales Strategies

Suppliers stepping up efforts to reach shoppers are having to mount costly new supply chains built to the task. WSJ

Nordstrom.com Wants to Become the ‘Spotify of Fashion’ With New Marketplace

Through the model, the retailer plans to offer extended sizes, a wider range of prices, and new categories like home and outdoor. WWD

Walmart Takes On Trader Joe’s and Whole Foods With New Premium Brand

Grocery giant is rolling out curry chicken empanadas and 300 other items as it seeks to capture spending by American consumers. WSJ

The Era of One-Stop Grocery Shopping Is Over

Consumers are making 8% more trips to different retailers as inflation continues to upend household budgets. WSJ

MEDIA & TECH

Dating app Bumble will no longer require women to make the first move

Bumble is doing away with the requirement that women message potential matches first. The new feature is part of a larger relaunch of the app announced Tuesday by new CEO Lidiane Jones. CNN

8 Daily Newspapers Sue OpenAI and Microsoft Over A.I.

The suit, which accuses the tech companies of copyright infringement, adds to the fight over the online data used to power artificial intelligence. NYT

RESTAURANTS & HOSPITALITY

Foxtrot, Dom’s Kitchen & Market Closing All Locations

Five months after Foxtrot and Dom’s Kitchen & Market merged, the new company appears headed to bankruptcy and all its stores in Illinois, Texas, and the D.C. area closed on April 23. Eater

Chicken tender chain Sticky’s Finger Joint files for Chapter 11

Low foot traffic in Manhattan, exacerbated by high prices for chicken and potatoes, left 12-unit Sticky’s in a weak position. Restaurant Dive

Burger King invests another $300 million to remodel restaurants

Burger King will invest another $300 million to remodel about 1,100 of its U.S. restaurants as part of a broader turnaround effort. CNBC

Why Disney is doubling down on theme parks with a $60-billion plan

Disney plans to invest $60 billion over 10 years into its so-called experiences division, which includes the theme parks, resorts and cruise line, as well as merchandise. LA Times

Say goodbye to Ruby Tuesday and Chili’s. These are the hot new restaurants at the mall

As US malls race to reinvent themselves, they’re turning to sushi conveyor belts, craft-beer membership clubs and Korean barbecue to replace burgers and fries. CNN

McDonald’s Supersizes China Bet as Corporate America Pulls Back

Fast-food chain aims to nearly double its restaurants in the country after buying back more of its business there for $1.8 billion. WSJ

COMINGS & GOINGS

• Kering Beauté Names President and CEO, Americas WWD
• Printemps group names David Herrenschmidt as COO Fashion Network
• Walmart's longest-serving director Rob Walton to retire from board Reuters
• Deckers Brands names president of global marketplace Retail Dive
• Gymshark poaches Adidas and Abercrombie & Fitch execs for new roles Drapers
• Paramount CEO Bob Bakish resigns amid merger talks Reuters