NEWS WE’VE FOLLOWED THIS WEEK:
2024 will be a mixed year for the athletics sector, reports the World Federation of the Sporting Goods Industry (WFSGI) and McKinsey & Company.
Credit card debt delinquency rates surged more than 50% in 2023, reaching their highest levels since 2008, says the NY Federal Reserve.
¾ of consumers still feel concerned about rising prices even as inflation moderates, according to Deloitte’s 2024 U.S. Retail Industry Outlook. Consumers consider trade-offs, try out the competition and hunt for the best deals to maximize their budgets.
Online retail sales are expected to grow by over 15%, reports Statista.
Off-price apparel retailers and thrift stores have been gaining visit shares since 2017, reports Placer.ai.
Executives are considering how to de-risk their supply chains as presidential candidates suggest imposing steep tariffs on goods from China.
M&A AND FINANCING NEWS
Arezzo&Co (fashion company) will merge with Soma, with the new entity being 54% controlled by Arezzo.
Emojibator (sexual wellness) was acquired by DAME.
Sea to Summit Global (outdoor apparel) acquired Cirdan (its’ supplier).
Tessemaie’s (salad condiments) was acquired by PANOS Brands (branded consumer foods backed by HKW).
Myvana (beauty tech) received an investment from Prisma Ventures (backed by Ulta Beauty) and BrainTrust Fund.
Jackson Hole Mountain Resort Mountain (ski resort) was sold to a consortium of local investors.
Cible Skin care raised capital from Verlinvest.
Sentinel acquired Market Performance Group.
HKW and Panos acquired Tessemae's Salad Dressings.
LaPerla declared insolvency in Italy.
PUBLIC COMPANY NEWS
Simon Property Group reduced its’ stake in Authentic Brands Group
from 12% to 10% for $300M in cash.
SuperDry confirmed plans to go private in the U.K.
VF announced it will continue to review its’ portfolio and will
consider selling brands in the future.
Alibaba is increasing its’ stock buyback program by $25B.
Natura & Co’s Board of Directors authorized the Company to
explore separating Natura from Avon.
The following public companies announced earnings this week: 361
Degrees, Alibaba, CVS Health, Descente, e.l.f. Beauty, Estee Lauder, Kering,
Pandora, Tapestry, The Container Store, VF Corp
EVENTS
The Fifteen Percent Pledge’s third annual gala was held in Los
Angeles.
BEFORE YOU GO
China’s Lunar New Year of the Dragon started Saturday; a record
number of trips have been planned during the same period.
Kansas City’s Cheifs won Super Bowl LVIII last night!