NEWS WE’VE FOLLOWED THIS WEEK:
Jerome Powell signaled that the U.S. Federal Reserve plans to cut interest rates later this year.
Spirit Halloween (costume retailer) announced it would open 1,525 locations across the U.S. and Canada this Halloween, the Company’s largest-ever footprint.
M&A AND FINANCING NEWS
Richard Saghian of Fashion Nova acquired new headquartered property in Beverly Hills.
Quality Glass and Mirror Service & Mirror (full-service glass company) raised capital from Lineage Capital.
JD.COM announced a $5B share buyback program, the Company’s second of the year.
E.L.F. BEAUTY initiated a $500M share buyback program.
Jason and Travis Kelse (football players) sold their exclusive audio rights for three years to Wondery for $100M.
PUBLIC COMPANY NEWS
The following public companies announced earnings this week: Abercrombie & Fitch, Bath & Body Works, Chewy, Citi Trends, Footlocker, Kohl’s, Lanvin, Nordstrom, PDD Holdings, PVH, The Buckle, Waldencast, and XStep International.
BEFORE YOU GO
The U.S. Open continues in New York, running through September 9 – the tournament’s Honey Deuce (cocktail) is expected to generate over $10M in revenue.
MMG hopes that all of our readers have a fun and relaxing Labor Day Weekend!
