Weekly Consumer News Roundup // July 23, 2024

This week, Macy's and Harrods relaunch private label brands, Whole Foods partners with Too Good to Go in stores nationwide to reduce food waste, and more.

WORDS FOR THE WEEK

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M&A and INVESTMENTS

• Unilever Said to Start Sale Talks for £15 Billion Ice Cream Unit Bloomberg
• Buyout firm L Catterton approaches $6.6B-listed Mattel with acquisition offer Reuters
• Meta is in talks to acquire a 5% stake in eyewear company EssilorLuxottica for ~$5B WSJ
• LVMH-Backed L Catterton Buys Value Retail Stake in £1.5 Billion Deal Bloomberg
• EssilorLuxottica to Buy Supreme for $1.5 Billion BoF
  
• Olive Garden Owner Darden Restaurants Will Buy Chuy’s Restaurants for $605 Million Bloomberg
• Bob Iger, Willow Bay agree to buy Angel City women’s soccer team in $250M deal Washington Post
• Krispy Kreme sells majority stake in Insomnia Cookies for $127M Restaurant Dive
• Jake Paul’s W Brand Raises $11 Million to Compete With Axe, Old Spice WSJ
• American Exchange Group Acquires ‘Clean’ Skin Care Brand Indie Lee WWD
• Auréa Group Steps Forward to Buy The Body Shop WWD
• Warner Bros. Offers to Match Amazon’s Bid for NBA TV Rights Bloomberg

CULTURE/ GOOD READS

• For Fashion, Sports Stars Are the New Superstars NYT
• The Zombie Mall King Doesn’t Want to Be a Bottom-Feeder Forever Bloomberg

INDUSTRY NEWS

CPG

One of the world’s biggest booze makers is ditching wine brands as the world drinks less

Pernod Ricard is selling most of its wine brands, as wine consumption is falling globally, and will instead focus on growing its champagne and premium spirits labels, including in the United States. CNN

New snack launches propel annual dairy aisle sales to $76B: CoBank

From snackable cheese kits to dessert-inspired Greek yogurt, Chobani and other manufacturers are transforming the category to meet changing demands and taste preferences. Food Dive

Coca-Cola raises forecasts, bets on price hikes and ad blitz

The beverage maker expects to benefit from price hikes and an advertising blitz, mainly in international markets where demand for its sodas and juices has been relatively strong. Reuters

Bud Light Slips to No. 3 After Boycott Reshaped Beer Industry

Anheuser-Busch InBev’s Michelob Ultra brand climbs to second place behind Modelo Especial. WSJ

RETAIL

Macy’s Relaunches Epic Threads for Kids in Ongoing Overhaul of Its Private Brand Portfolio

Officials say its private brands are modernizing and becoming more customer-centric. WWD

Whole Foods adds "surprise bags" of discounted food

Too Good To Go, an app that allows consumers to snag cheap eats and helps businesses reduce food waste, is expanding into Whole Foods stores nationwide. Axios

Amazon Prime Day drives U.S. online sales to record $14.2 billion

Online spending in the U.S. surged 11% year over year to $14.2 billion during Amazon’s 48-hour Prime Day event, topping estimates and setting a new record, according to Adobe Analytics. CNBC

Inside fashion retailer Mango’s playbook for U.S. expansion

Spanish fast-fashion retailer Mango is rapidly opening stores across the U.S. in a bid to make the country one of its top three markets. Modern Retail

Is It Time for Supreme to Sell Out?

Supreme’s adherence to its business model of drops and scarcity might now be constraining its growth rather than driving it. It might be the moment for the streetwear pioneer to give in and go fully mass-market. BoF

College bookstores add more dorm decor after Bed Bath & Beyond closure

College bookstore operators like Follett Higher Education and Barnes & Noble college are hoping more students will buy dorm decor right on campus. Modern Retail

Harrods Relaunches Own-brand Label With the Celebration of 175 Years in Business

The first launch starts with a line of luxury stationery and accessories such as umbrellas, water bottles, cardholders, tote bags and mugs with the brand’s signature logo and H motifs in different shapes and sizes. WWD

Abercrombie Won by Leaving Teens Behind. Sibling Brand Hollister Is Taking the Opposite Approach.

Hollister stores are sticking with teenagers and coming to grips with what they want postpandemic - it's comfort. WSJ

MEDIA & TECH

‘Bridgerton,’ ‘Your Honor’ Help Spur Record TV Streaming in June

Americans spent more than 40% of their TV time streaming movies and TV shows, the highest percentage ever for online viewing, with Netflix Inc. registering the biggest increase in market share, thanks to popular shows like Bridgerton. Bloomberg

Overstock.com is back from the dead

Overstock.com, which was one of the biggest names in e-commerce, is being revived just a year after its new owners ditched the name in favor of Bed Bath & Beyond. CNN

Reddit Lands Content Partnerships With NFL, NBA, MLB

Reddit Inc. is partnering with several major sports leagues to bring more video content to the site in hopes of boosting advertising revenue. Bloomberg

RESTAURANTS & HOSPITALITY

Value offerings drove traffic boosts at major chains

At least four chains — Chili’s, McDonald’s, Starbucks and Buffalo Wild Wings — that added or enhanced value offerings in the past few months saw a boost in traffic, according to a Placer.ai report. Restaurant Dive

Bottomless Fries, Floats and Broccoli. One Restaurant Chain’s Bid to Get Diners.

Red Robin is playing up its more than 30 bottomless menu offerings as a way to lure in inflation-weary customers. WSJ

Japan-Style 7-Elevens Are Coming to America — and That Means a Vastly Improved Menu

The world’s largest convenience store chain is trying to bring a similar range of food items from their Japanese distribution centers to its U.S. stores, and market them to customers who associate the brand with Slurpees and pizza. Food & Wine

McDonald’s $5 value meal is staying on menus for a little while longer

McDonald's said that 93% of US locations will keep the $5 deal on menus for another month. CNN

COMINGS & GOINGS

• Five Below CEO Joel Anderson Steps Down WSJ
• Kraft Heinz names former Pepsi marketer Todd Kaplan as North America CMO Food Dive
• Petco Names Joel Anderson as CEO Following Exit From Five Below WSJ
• Bulgari Promotes Laura Burdese to Deputy CEO WWD
• LVMH Names New CEOs for Hublot, TAG Heuer Watch Brands BoF
• General Mills taps CPG veteran to spur growth Food Dive
• Walmart Has a New Vice President of Beauty WWD