Weekly Consumer News Roundup // July 30, 2024

This week, Ulta Beauty relaunches its in-house Ulta Beauty Collection with a new Gen-Z focus, top podcasters are signing megadeals with Spotify, Sirius and Amazon, and more.

WORDS FOR THE WEEK

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

M&A and INVESTMENTS

• NBA Unveils $77 Billion TV and Streaming Deals With NBC, ESPN and Amazon WSJ
• Google’s $23 Billion Plan to Buy Cybersecurity Start-Up Wiz Falls Apart NYT
• Casey’s to acquire Texas-based C-store chain CEFCO in $1.1 billion deal CSA
• Private equity giant Apollo invests $700 mln in Sony Music Reuters
• Summer Fridays Lands Investment From TSG Consumer Partners WWD
• Red Lobster to be acquired by Fortress Investment Group Restaurant Dive
• Califia Farms acquires Uproot, a plant milk dispenser system for food service Food Dive
• G-III Raises Investment in AWWG, Owners of Pepe Jeans London, Hackett and Facconable, to 19 Percent WWD
• GSM Outdoors Sold to Private Equity Firm Platinum Equity SGB Media
  
• Smucker seeks to divest cookie brand Voortman at a $350M+ valuation Reuters
• Winky Lux Lands Majority Investment From Core Industrial Partners WWD
  

CULTURE/ GOOD READS

• Why more founders are buying back stakes in their startup brands Modern Retail
  
• Why Retailers Should Stop Worrying About the Gen-Z Versus Millennial Divide BoF

INDUSTRY NEWS

CPG

After $3B sale by PepsiCo, Tropicana goes about juicing up its business

The company, which owns its namesake brand, smoothie maker Naked and probiotic drink KeVita, is prioritizing innovation and new consumption occasions to drive growth. Food Dive

Mattel will lean on retailers to boost holiday sales

The toy maker said it will be gaining shelf space in stores, and headed off questions about takeover rumors. Retail Dive

As big-box retailers cut prices, CPG startups are also facing pressure to lower costs

Food and beverage startups are receiving feedback to reduce on-shelf prices, as retailers seek to win back inflation-weary shoppers. Modern Retail

Boxed.com relaunches under new owner

E-commerce company Spresso and online wholesale retailer MSG Distributors will relaunch online bulk retailer Boxed about a year after MSG bought it out of bankruptcy. ChainStoreAge

Keurig Dr Pepper earnings meet estimates as higher prices fuel U.S. soda sales

Keurig Dr Pepper’s U.S. refreshment beverages division, which includes Snapple, Canada Dry and Sunkist, reported sales growth of 3.3%. Prices for its drinks were up 2.9% compared with the year-ago period. CNBC

Ulta Beauty relaunches its in-house Ulta Beauty Collection with a new Gen-Z focus

After 24 years, Ulta Beauty’s private label, Ulta Beauty Collection, would like to reintroduce itself. The existing brand, which first launched in 2000, is slowly being replaced with updated packaging and products on its website and in its stores. Glossy

Big Tobacco may have its biggest new hit since cigarettes

Several trends have driven a surge in Zyn’s relatively wild popularity, from what users feel is its convenience and subtlety, to a flood of online advertising positioning Zyn as a healthier, smoke-free alternative to cigarettes. CNN

After building a 9-figure online business, KiwiCo is launching in Barnes & Noble and Target

After primarily selling through its website for over 10 years, children’s education brand KiwiCo is finally launching in brick-and-mortar by entering Barnes & Noble and Target stores this month. Modern Retail

RETAIL

Beverly Hills Megadeal Lands Prime Shopping Space—and the Empty Cubicles Above It

Los Angeles-based investors Justin and Tyler Mateen paid $208 million for the Wilshire Rodeo Plaza office complex. WSJ

Michaels Expands Delivery Options via DoorDash and Uber Eats

Michaels will expand same-day delivery from its 1200+ stores through new partnerships with DoorDash and Uber Eats. Retail Touchpoints

The world’s biggest luxury brands are hurting as Chinese shoppers rein in spending

The value of some of the world’s best-known luxury companies is plunging as Chinese consumers pull back on spending, with even the most exclusive brands feeling the pain. CNN

Brands like Levi’s have opened new Paris stores in time for the Olympics

With all eyes on Paris for the Olympics, many brands made sure to open flagship stores this year ahead of the arrival of millions of tourists during and after the games. Modern Retail

Early Halloween push driving "Summerween" trend

There's a race to move out holiday merchandise early, aiming to get shoppers ready well in advance and, ideally, pushing them to spend more money. Axios

MEDIA & TECH

What Google’s decision to keep cookies means for the internet

The U.S. internet giant is reversing a long-planned move to ditch third-party cookies — the critical text files that track users’ web activity for advertisers. CNBC

Disney, Hulu and Max launch streaming bundle at up to 38% discount

Warner Bros. Discovery and Disney launched a cross-studio bundle, bringing the services together at a discounted price as the entertainment giants look to scale their streaming businesses. CNN

Amazon is building a sports media empire. What’s next?

Amazon now has the NFL and the NBA — and the power to transform pro sports. Washington Post

A Few Blockbuster Podcasts Are Making All the Money

The top shows are adding video, merchandise and live tours and signing megadeals with Spotify, Sirius and Amazon. WSJ

Canva adds a new generative AI platform to its growing creative empire

Canva has acquired local startup Leonardo.ai to bolster the design platform’s Magic Studio AI tools. The Verge

RESTAURANTS & HOSPITALITY

Chipotle Stock Surges on Profit Jump and Booming Burrito Sales

Chipotle Mexican Grill said that rolling its burritos faster and building more locations and running its stores more efficiently also helped boost sales and brought in more orders last quarter. WSJ

McDonald’s Sales Soften, Sounding Alarm for Restaurants as Diners Curb Visits

Fast-food giant acknowledges meals have become less affordable and wants to promote value offerings to regain its edge. WSJ

COMINGS & GOINGS

• Fendi Names Joanna Dubin, Valentina Lucaj to New Posts WWD
• AG1 Names New Chief Executive BoF
  
• Brooks Running Appoints New President & COO and New EMEA Chief SGB Media
• The Estée Lauder Cos. Names Akhil Shrivastava Executive Vice President and CFO WWD
• Macy’s names head of home, food and toys Retail Dive
• LVMH promotes Maryse Malicet as chief financial officer of Moët Hennessy WWD
• Saks Off 5th chief merchant jumps to QVC Retail Dive
  
• Selfridges CEO Andrew Keith to Leave After Four Years WWD
• L Catterton Appoints Global Head of Sustainability SGB Media
  
• Kentaro Fujiwara will succeed Masahiko Uotani as CEO of Shisheido WWD