NEWS WE’VE FOLLOWED THIS WEEK:
The consumer-price index rose 2.4% in Sept’24 vs last year (above the 2.3% rise economists expected), reported the U.S. Department of Labor, after rising 2.5% in August.
Holiday spending will jump 7% vs last year as in-store foot traffic increases, predicts PwC.
Black Friday to Cyber Monday US retail sales could hit a record $75B (up 5% vs. 2023), says Bain & Company.
Amazon.com said that during 2024 Prime Day, customers “purchased more items than any previous Prime Day shopping event”.
M&A AND FINANCING NEWS
YOOX NET-A-PORTER (Fashion e-tail) was acquired by Mytheresa from Richemont.
Hatch (maternity brand) was acquired by Go Global.
End Clothing (apparel retailer) was acquired by Apollo from The Carlyle Group.
Kinetic Group (ammunition business) was sold by Vista Outdoor to CSG.
HRB Brands (personal care) was acquired by Sodalis Group from Tengram Capital Partners.
Revelyst (outdoor brands) was sold by Vista Outdoor to Strategic Value Partners.
Unilever (Consumer packaged goods) sold its Russian business to local manufacturer Arnest Group.
Paris FC (second-division French soccer team) was acquired by the Aurnaut family and Red Bull.
Moose Knuckles Canada (Canadian luxury outerwear) announced a partnership with BOSIDENG (Chinese down apparel) with financial support from Cathay Capital.
Authentic Brands Group and SAKS GLOBAL announced a joint venture, Authentic Luxury Group (ALG), to support luxury brands.
ClayCo. Cosmetics Private Limited (skincare) raised a $2M seed round from Unilever Ventures, among others.
Sofie Pavitt Face (skincare) raised a seed round from True Beauty Ventures.
Amalfi Capital entered a $360M stalking horse bid for the assets of Conn's HomePlus (bankrupt retailer).
PUBLIC COMPANY NEWS
The Aaron’s Company will go private, following the completion of the Company’s acquisition by IQVentures.
The following public companies announced earnings this week: IKEA, Fast Retailing, and Helen of Troy.
EVENTS
We’re thrilled to share that Delivering Good, Inc. will be hosting its gala on October 29th at Gotham Hall! Join us in New York City for an unforgettable evening focused on making a positive difference.
In light of the recent hurricanes, it's more crucial than ever to come together and support those affected by these devastating events. Please check in on family and friends, MMG Advisors, Inc. hopes that everyone is staying safe during this time!
BEFORE YOU GO
Playoff baseball continues - the New York Mets upset the Philadelphia Phillies in the National League Division Series, advancing to the next round of playoffs for the first time since 2015.
Peanuts (comic strip starring Charlie Brown) turned 74 years old this week.
