--- title: Weekly Consumer News Roundup // May 21, 2024 description: This week, Macy's, Kohl's and Nordstrom are chasing younger shoppers, Nestle to launch Vital Pursuit frozen-food brand targeting GLP-1 users, and more. image: https://assets1.drugstorenews.com/s3fs-public/styles/hero/public/2024-05/well_market_group_shot_-_blue_background.jpg?VersionId=_r1WMPy4y6jBHe3l9CeyO93KGSAq60AK&itok=PI8_QeCC --- [![logo-vert-traub (2)](https://blog.traub.io/hs-fs/hubfs/TRAUB_September2019/Image/logo-vert-traub%20(2).png?width=456&height=312&name=logo-vert-traub%20(2).png "logo-vert-traub (2)")](http://traub.io/) - [Who We Are](https://www.traub.io/who-we-are/) - [What We Do](https://www.traub.io/what-we-do/) - [Meet Our Team](https://www.traub.io/our-team/) - [See Our Work](https://www.traub.io/case-studies/) - [Read Our Content](https://www.traub.io/read-our-content/) - [Traub Capital](https://www.traub-capital.com/) # Weekly Consumer News Roundup // May 21, 2024 By [TRAUB](https://blog.traub.io/blog/author/traub) On May 21, 2024 [![Share on facebook](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/facebook-color.png?width=24&name=facebook-color.png)](https://blog.traub.io/blog/linkedin.com/company/traub-consulting) [![Share on linkedin](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/linkedin-color.png?width=24&name=linkedin-color.png)](https://www.linkedin.com/company/traub-consulting/) [![Share on email](https://cdn2.hubspot.net/hub/3275719/hubfs/hs_marketplace_assets/modules/Social_Sharing/81/email-color.png?width=24&name=email-color.png)](mailto:info@traub.io) This week, Macy's, Kohl's and Nordstrom are chasing younger shoppers, Nestle to launch Vital Pursuit frozen-food brand targeting GLP-1 users, and more. --- **WORDS FOR THE WEEK** ![](https://blog.traub.io/hs-fs/hubfs/444827572_992608479107719_2162329311701939097_n-jpg.jpeg?width=320&height=320&name=444827572_992608479107719_2162329311701939097_n-jpg.jpeg) For more inspiration, visit @dailystoic and @dailyphilosopher on Instagram.    **M&A and INVESTMENTS** - Chip City Cookies raised $7.5m Series B investment from Enlightened Hospitality Investments [Just Food](https://www.foodbusinessnews.net/articles/26116-cookie-maker-baking-up-success-with-recent-funding-round) - Above Food to buy GoodWheat product line for $4m [Just Food](https://www.just-food.com/news/above-food-to-buy-goodwheat-product-line/) - Roksanda Sells to The Brand Group [BoF](https://www.businessoffashion.com/news/luxury/roksanda-sells-to-the-brand-group/) - VF Hired Goldman Sachs to Consider Selling Supreme [WWD](https://wwd.com/business-news/financial/supreme-for-sale-vf-goldman-sachs-1236380722/) - Bumble buys community building app Geneva [TechCrunch](https://techcrunch.com/2024/05/20/bumble-buys-community-building-app-geneva-to-expand-further-into-friendships/) - Cocktail Courier has acquired alcohol delivery platform Thirstie [Modern Retail](https://www.modernretail.co/operations/cocktail-courier-has-acquired-alcohol-delivery-platform-thirstie/)   ## **CULTURE/GOODREADS** - The brand and retailer relationship status is evolving [Glossy](https://www.glossy.co/fashion/luxury/luxury-briefing-the-brand-retailer-relationship-status-is-complicated/) - We’re Spending Billions on This Work-From-Home Indulgence [WSJ](https://www.wsj.com/lifestyle/workplace/online-shopping-work-from-home-3765a633)   ## **INDUSTRY NEWS** **CPG** ![CVS Pharmacy debuts Well Market consumables brand | Drug Store News](https://assets1.drugstorenews.com/s3fs-public/styles/hero/public/2024-05/well_market_group_shot_-_blue_background.jpg?VersionId=_r1WMPy4y6jBHe3l9CeyO93KGSAq60AK&itok=PI8_QeCC) CVS debuts new Well Market private-label consumables line CVS today announced the debut of Well Market, its new private-label consumables brand which will include 40 new food, beverage, and grocery products and serve as an umbrella for its three other consumable store brands. [Retail Brew](https://www.retailbrew.com/stories/2024/05/15/cvs-debuts-new-well-market-private-label-consumables-line)   Hims Debuts $199 Weight-Loss Shots at 85% Discount to Wegovy Online pharmaceutical brand Hims & Hers introduced a weight-loss drug containing a compounded form of semaglutide, the active ingredient in Ozempic, for a fraction of the price. [Bloomberg](https://www.bloomberg.com/news/articles/2024-05-20/hims-debuts-199-weight-loss-shots-undercutting-wegovy-ozempic)   Zyn, America's favorite nicotine pouch, is running out of stock in some states Zyn, a popular brand of nicotine pouches, may be harder to find in several states, including New York, New Jersey, and Florida. [Business Insider](https://www.businessinsider.com/zyn-nicotine-pouches-out-stock-shortage-new-york-jersey-florida-2024-5)   Nestle to launch Vital Pursuit frozen-food brand targeting GLP-1 users The new brand’s initial lineup of 12 items will include frozen bowls with whole grains or protein-packed pasta, along with sandwich melts and pizzas. The products will include one or more essential nutrients, like protein, calcium or iron. [CNBC](https://www.cnbc.com/2024/05/21/nestle-to-launch-vital-pursuit-frozen-food-for-glp-1-users.html)     **RETAIL** Walmart’s Reign as America’s Biggest Retailer Is Under Threat With Amazon on its heels, the nation’s biggest company by revenue is hunting for ways to continue growing. [WSJ](https://www.wsj.com/business/retail/walmart-sales-amazon-growth-2bee429b?st=rp4og28509f7jxg)   US Retail Sales Unexpectedly Flat in April Consumers are focusing spending on essentials and cutting back on luxuries amid higher prices. But sales have held up as a strong labour market helped households navigate the high inflation environment. [Reuters](https://www.reuters.com/markets/us/us-retail-sales-unexpectedly-flat-april-2024-05-15/)   ![Wayfair store in Wilmette, Illinois.](https://image.cnbcfm.com/api/v1/image/107415472-1715796872757-Wayfair_Willmette_Store32102_final.jpg?v=1715807457&w=929&h=523&vtcrop=y) Wayfair to open its first large store, as physical locations make a comeback Online home goods retailer Wayfair is opening its first namesake store, near Chicago, following a string of other digitally native companies that have turned to brick-and-mortar for growth. [CNBC](https://www.cnbc.com/2024/05/16/wayfair-to-open-first-large-store-outside-of-chicago.html)   Under Armour plans layoffs, 25% SKU reduction With founder Kevin Plank back at the helm, the retailer is overhauling its product strategy. The brand will cut back on promotions, reprioritize men’s and invest in innovation. [Retail Dive](https://www.retaildive.com/news/under-armour-layoffs-product-strategy-cutting-sku-count/716318/)   Walmart’s business surges as shoppers hunt for low prices Businesses from McDonald’s to Home Depot are struggling to attract financially strapped shoppers. But Walmart is growing as consumers search for inexpensive groceries, essentials and other merchandise. [CNN](https://www.cnn.com/2024/05/16/investing/walmart-sales-inflation/index.html)   Converse to cut jobs as part of Nike's cost-savings plan The footwear giant has been hit by cautious consumer spending and a pressured wholesale business over the past few quarters, forcing it to trim supplies of classic shoes such as its Air Force 1 and Pegasus. [Reuters](https://www.reuters.com/business/retail-consumer/converse-cut-jobs-part-nikes-cost-savings-plan-bloomberg-news-reports-2024-05-14/)   Uber Eats adds Costco delivery — even for non-members Uber rolled out a new menu of ride options Wednesday, from an "Uber Shuttle" to the airport or a concert to "Uber Caregiver," which lets you book rides that may be covered by health insurance for elderly people. Another new service will let you order groceries from Costco, whether or not you're a member. [Axios](https://www.axios.com/2024/05/15/uber-costco-delivery-go-get-2024)   The Start-Ups Defying the Luxury E-Commerce Slump It’s been a tough year for luxury e-commerce — but a crop of smaller marketplaces are beating the odds with a focus on emerging accessible luxury brands and a firmer grip on operating costs. [BoF](https://www.businessoffashion.com/articles/technology/the-start-ups-defying-the-luxury-e-commerce-slump/)   Target to lower prices on thousands of basic items as inflation sends customers scrounging for deals Target said its lower prices will aim to “collectively save consumers millions of dollars” on household staples and everyday items such as milk, fresh fruit, diapers and even pet food. [CNN](https://www.cnn.com/2024/05/20/business/target-price-cuts/index.html)   As their customers age, Macy's, Kohl's and Nordstrom are chasing younger shoppers Baby boomers make up a sizeable chunk of the retailers' shoppers and investors aren't convinced that Gen Z and Millennials will age into shopping at the stores. [CNBC](https://www.cnbc.com/2024/05/20/macys-kohls-nordstrom-earnings-department-stores-younger-shoppers.html)   Real-Estate Downsizing Finally Comes for Your Pharmacy CVS, Walgreens and Rite Aid are closing hundreds of stores as discount retailers and e-commerce outlets increase competition. [WSJ](https://www.wsj.com/business/retail/real-estate-downsizing-finally-comes-for-your-pharmacy-03cb13eb?mod=business_lead_pos4)     **MEDIA & TECH** Netflix and the N.F.L. Sign a Three-Season Deal Football joins pro wrestling and comedy specials in an expansion of the streaming service’s live offerings, a key step in the company’s overall live TV strategy. [NYT](https://www.nytimes.com/2024/05/15/business/media/netflix-nfl-live.html)   TikTok tests 60-minute video uploads as it continues to take on YouTube TikTok is experimenting with allowing certain users to upload longer videos, extending up to 60 minutes in duration. [TechCrunch](https://techcrunch.com/2024/05/16/tiktok-upload-60-minute-videos/)   Victoria’s Secret Fashion Show will return in the fall after four-year hiatus The retailer said the reimagined fashion show will "reflect who we are today," a nod to the brand's recent efforts to be more size-inclusive. [NBC](https://www.nbcnews.com/business/business-news/victorias-secret-fashion-show-to-return-rcna152406)     **RESTAURANTS & HOSPITALITY** The Food Court Is Back Attention, mall shoppers: Restaurants are taking up more retail space. It’s good news for fixtures like Cinnabon and bubble tea shops. [Bloomberg](https://www.bloomberg.com/news/features/2024-05-17/the-mall-food-court-near-you-is-making-a-comeback?srnd=businessweek-v2&embedded-checkout=true)   Coney Island Casino, Retail And Leisure Scheme Planned In $3 Billion Boost A $3 billion retail and leisure scheme anchored by a Coney Island casino has been announced by Manhattan-based investor and developer Thor Equities. [Forbes](https://www.forbes.com/sites/markfaithfull/2024/05/17/coney-island-casino-retail-and-leisure-scheme-planned-in-3bn-boost/)   Top 500 restaurant chains grew 2023 sales 7.5% despite traffic declines Among the standouts in the report is 7 Brew, a drive-thru coffee chain, the fastest-growing chain in the country. [Restaurant Dive](https://www.restaurantdive.com/news/datassential-top-500-chains-sales-up-7-percent-2023/716526/) Red Lobster Files for Bankruptcy With Plan to Sell Business and Reduce Locations The largest seafood restaurant chain in the U.S. filed for bankruptcy after failing to recover from dwindling traffic it suffered during the pandemic as menu prices crept higher. An unlimited shrimp deal also took a bite out of earnings. [WSJ](https://www.wsj.com/articles/red-lobster-files-for-bankruptcy-plans-to-sell-business-88e710fe)   Wendy’s will offer $3 breakfast deal, as rivals such as McDonald’s test value meals to drive sales Wendy’s will offer a $3 breakfast combination meal starting Monday, as restaurant chains look for new ways to drive sales while consumers pull back on dining out. [CNBC](https://www.cnbc.com/2024/05/20/wendys-will-offer-breakfast-meal-deal-after-mcdonalds.html)   Equinox and Kiehl’s Broke Up, and People Are Losing It Kiehl’s products were available at Equinox for 13 years, until last week when they were replaced with Grown Alchemist, a biological beauty brand that blends advanced plant-based and biotech ingredients into its skin care. [The Cut](https://www.thecut.com/article/equinox-and-kiehls-broke-up-and-people-are-losing-it.html)     COMINGS & GOINGS - Condé Nast Chief Revenue Officer Steps Down [BoF](https://www.businessoffashion.com/news/media/conde-nast-chief-revenue-officer-steps-down/) - Matt Garman taking over as CEO with **AWS** at crossroads [TechCrunch](https://techcrunch.com/2024/05/15/matt-garman-taking-over-as-ceo-with-aws-at-crossroads/) - Michael Burke is stepping back from overseeing LVMH’s sprawling Fashion Group [BoF](https://www.businessoffashion.com/articles/luxury/lvmh-said-to-shake-up-fashion-group-leadership/) - Snipes USA Names Martin Badour President [Footwear News](https://footwearnews.com/business/executive-moves/snipes-usa-president-martin-badour-1203639135/) - Sbarro names RBI exec as North America president [Restaurant Dive](https://www.restaurantdive.com/news/sbarro-hires-mario-bojorquez-president-north-america/716356/) - Luxury Group Richemont Appoints Van Cleef's Nicolas Bos As New CEO [Forbes](https://www.forbes.com/sites/anthonydemarco/2024/05/17/luxury-group-richemont-appoints-nicolas-bos-as-new-ceo/?sh=5f57aa5d223c) - Preppy-inspired Brand Rowing Blazers Appoints New CEO [WWD](https://wwd.com/business-news/human-resources/rowing-blazers-j-crew-laura-willensky-ceo-madewell-1236384451/) - Xponential Fitness CEO Resigns After Indefinite Suspension Amid Federal Probe [MarketWatch](https://www.marketwatch.com/amp/story/xponential-fitness-ceo-resigns-after-indefinite-suspension-amid-federal-probe-e0690051) - Fred’s New CEO Is Bulgari Veteran Vincent Reynes [WWD](https://wwd.com/business-news/human-resources/fred-new-ceo-vincent-reynes-1236389608/) ### Subscribe Here! 477 Madison Avenue, 18th Floor New York, NY 10022 (646) 723-2990 [info@traub.io](mailto:info@traub.io) ![TRAUB](https://blog.traub.io/hubfs/TRAUB_September2019/Image/traub-logo.png) - [Who We Are](http://traub.io/who-we-are/) - [What We Do](http://traub.io/what-we-do/) - [Meet Our Team](http://traub.io/our-team/) - [See Our Work](http://traub.io/case-studies/) - [Read Our Content](http://traub.io/read-our-content/) - [Traub Capital](https://www.traub-capital.com/) Traub © 2023