Weekly Consumer News Roundup // July 9, 2024

This week, IKEA will open its first store in New York City, Saks owner Hudson's Bay to acquire Neiman Marcus, and more.

WORDS FOR THE WEEK

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

M&A and INVESTMENTS

• Six Flags and Cedar Fair merge in $8 billion deal CNN
• Arkhouse Management and Brigade Capital Management raised their buyout offer for Macy's to ~$6.9B WSJ
• Carlsberg to Buy Soft Drink Maker Britvic for $4.23 Billion WSJ
• Saks Owner Hudson's Bay to Acquire Neiman Marcus in $2.65 billion deal BoF
• Music catalog giant Hipgnosis is sold to Blackstone for $1.6 billion NYT
• Athletic Brewing Company raised $50 million in equity financing in a round led by General Atlantic CNBC
• Paramount Agrees to Merge With Skydance NYT
  

CULTURE/ GOOD READS

• The Unbranding of Abercrombie The Cut

INDUSTRY NEWS

CPG

‘Upflation’ Is the New Retail Trend Driving Up Prices for US Consumers

First there was ‘shrinkflation.’ Now, consumers are confronting ‘upflation’ as companies seek to turn around the $100 billion personal care and beauty market. Bloomberg

Adidas set to benefit as Nike struggles

The success of Adidas' Samba and Gazelle sneakers, along with weaker sales at rival Nike, should help the German sportswear brand deliver strong second-quarter sales and its biggest profit margin in three years. Reuters

Beauty Is Having Its Own Baby Boom

Baby Dior’s line is globetrotting, while Bonpoint and Dr. Barbara Sturm’s are particularly strong in the Asia-Pacific region. WWD

Zyn Imitators Rush In as Online Sales Halt Worsens US Shortage

 A slew of Zyn competitors are rushing in to capitalize on troubles at the Philip Morris-owned brand, which is facing a run on supply for its popular oral nicotine pouches and a subpoena that prompted a halt in its online sales in the US. Bloomberg

RETAIL

Australian fashion brands are opening more U.S. stores & distribution centers

More Australian fashion brands are saying "g'day" to the U.S.A. and putting down roots across the Pacific. Here's how Bared Footwear, Princess Polly, Camilla and Outcast have made the move to physical retail in North America. Modern Retail 

IKEA Confirms Huge Plans For New York In Boost To Fifth Avenue

Swedish furniture and homewares giant IKEA is to open its first store in New York City after announcing a deal to co-invest on a major development on Fifth Avenue. Forbes

Arket Is on a Retail Streak, With Stores Opening in Milan, Barcelona, and Across Europe

It’s a big year for Arket, which is opening 12 stores in 2024 — two of them this week — as it expands its reach across Europe. WWD

Bob’s Stores is closing all of its stores after 70 years in business

The retailer recently filed for Chapter 11 bankruptcy protection, and as a result, will soon permanently close all 21 of its locations. It will liquidate its inventory in the coming weeks. CNN

Costco and Sam’s Club Aisles Are Full of Gen Z Shoppers

With food prices still high, shoppers look for ways to team up with roommates, neighbors and family. WSJ

Big Lots to close 35 to 40 stores

the Ohio-based discounter revealed it plans to close between 35 to 40 stores in 2024, putting the blame on elevated inflation that has put a damper on customers buying power. Chain Store Age

Even as prices stabilize, Walmart, Chipotle and others feel the heat from skeptical customers

Even as inflation cools, customers are still bristling at higher prices and say inflation is a major concern. Walmart, Chipotle and Wendy’s are among the companies that have felt the ire of customers on social media. CNBC

MEDIA & TECH

NFL ‘Sunday Ticket’ streaming is coming to bars and restaurants this season

EverPass Media, the joint venture between the NFL and RedBird Capital Partners that owns the commercial rights to “Sunday Ticket,” is getting into the business of streaming live sports at bars and restaurants. CNBC

Signs of Life Appear in TV Show Purchases

Netflix and Amazon are driving a small bump in the market for TV shows after a major slowdown. NYT

Streaming’s ‘great re-bundling’ has begun. What that could mean for subscribers

Streaming appears poised to undergo what some have called “The Great Re-Bundling,” with services merging, combining or forming alliances that will essentially reconstruct the cable “bundle” that consumers relied upon for decades. CNN

RESTAURANTS & HOSPITALITY

Subway launches 3 new sandwiches in latest menu update

This marks fourth time the chain has changed its menu this year as it leans into new products to boost sales. Restaurant Dive

COMINGS & GOINGS

• Following Saks-Neiman’s Deal, Saks COO Departs WWD
• Paul Fredrick Names New CEO SGB Media
  
• Nike taps retired executive Tom Peddie as VP of marketplace partners Seeking Alpha