NEWS WE’VE FOLLOWED THIS WEEK:
Consumer confidence dropped slightly from June to July per Numerator’s Consumer Sentiment Tracker.
Home sales slightly up in July with prices near highest levels ever.
Online spending growth is up 10% year-over-year, per Signifyd E-commerce Pulse data, but has shifted towards lower-cost items - orders under $100 grew 17.7%
M&A AND FINANCING NEWS
Walmart sold off its remaining stake in JD.COM (digital retailer), raising $3.6B.
CHANEL acquired 25% of Swiss watchmaker MB&F.
GetGo (convenience stores) was sold to Alimentation Couche-Tard Inc, by Giant Eagle, Inc.
GREATS (sneaker brand) was sold from Steve Madden to Unified Commerce Group with Steve Madden investing in Unified Commerce Group.
KROST CPAs & Consultants (CPA firm) announced it would join EisnerAmper.
Berle Manufacturing Company, Inc. (trousers) sold a 50% stake to Ronald Balinsky (owner of Ballin – pants manufacturer).
Snak King - Your Snack Innovation Partner - Private Label and Branded Snacks (packaged snack manufacturer) raised an investment from Falfurrias Capital Partners.
Carpe (sweat control brand) raised an investment from Topspin Consumer Partners.
Brands for Less (Dubai retailer) sold a 35% stake to The TJX Companies, Inc..
Levels (metabolic health wearables) raised $10M from Long Journey and a16z, alongside crowdfunding.
PUBLIC COMPANY NEWS
The following public companies announced earnings this week: Amer Sports, Coty, Delta Galil, Estee Lauder, La-Z-Boy, Lowe’s, Macys, Wilson, Target, TJX
BEFORE YOU GO
NCAA College Football starts this Saturday, August 24.
Little League Baseball Series continues.
The US Open Tennis Tournament officially begins on Monday August 26th in Flushing Meadows, NYC.
