NEWS WE’VE FOLLOWED THIS WEEK:
Holiday season consumer spending is expected to grow between 2.5% - 3.5% vs last year, predicts the National Retail Federation, with growth primarily driven by increases in online shopping. Coresight Research, Deloitte, Adobe and Salesforce have reported predictions on different time periods and assumptions so worthy reads.
The University of Michigan’s index of consumer sentiment declined to 68.9 in mid-October from 70.1 at the end of last month, as consumers continue to express frustration over high prices despite inflation expectations easing since this time last year.
M&A AND FINANCING NEWS
Nails.INC (British nail care brand) was acquired by Pacific World Corporation.
HATCH Studios LLC (maternity brand) was acquired by Go Global.
Dolly Bikes (Dutch e-cargo bike brand) was acquired by Optima Cycles.
RéVive Skincare (skincare brand) was acquired by S’Young Group from Tengram Capital Partners.
Burrow (interior design platform) was acquired by Havenly Brands.
Stanley Robotics (autonomous valet parking robots) was acquired by HL Robotics.
Eyemart Express (eyewear retailer) was acquired by VSP Vision from FFL Partners and Leonard Green & Partners (LGP).
Great American (consulting firm) was sold to Oaktree Capital Management from B. Riley Financial.
Hudson Malta (Africa-focused fashion retailer) sold a non-controlling stake to Frasers Group.
ALTUZARRA (luxury brand) sold a minority stake to P180 Investments.
The Aaron's Company, Inc.’s Company (furniture lease-to-own retailer) raised a $120M senior secured line of credit from Second Avenue Capital Partners (SACP) Partners.
TOCA Football (indoor soccer) raised $100M in private funding.
The Container Store (storage retailer) raised $40M from Beyond, Inc.
Ghost (B2B inventory marketplace) raised a $40M Series C from L Catterton, among others.
Red Wing Shoe Co. (boot maker) announced it would shutter its hiking brand Vasque Footwear and its outdoor business, citing business challenges.
True Value (hardware chain) declared bankruptcy and sold its operations to Do it Best in a $153M Stalking Horse Bid.
PUBLIC COMPANY NEWS
The following public companies announced earnings this week: 361 Degrees, Life Time Group, LVMH, and Walgreens Boots Alliance.
EVENTS
We’re excited to announce that Delivering Good, Inc. will host its annual gala on October 29th at Gotham Hall! Join us in New York City for a memorable evening dedicated to making a positive impact.
BEFORE YOU GO
The Victoria’s Secret Fashion Show returned this year after a five-year hiatus.
The WNBA (Women's National Basketball Association) Finals are here; as of press time the New York Liberty leads the Minnesota Lynx two games to one.
Playoff Baseball continues.
