NEWS WE’VE FOLLOWED THIS WEEK:
The Consumer Price Index slowed to 2.5% in Aug’24, Commerce Department.
The National Retail Federation’s chief economist predicted that the U.S. economy has dodged a recession but is on the cusp of nailing a long-awaited soft landing.
The Port of New Orleans closed in anticipation of Hurricane Francine making landfall, disrupting supply chain operations in the Southern U.S.
Spacex astronauts take their first spacewalk in their new suits.
M&A AND FINANCING NEWS
The Row (the Olsens fashion brand) received a minority investment from CHANEL owners Wertheimer family and the Bettencourt Meyers’ Tethys Invest along with Imaginary Ventures.
Backcountry (retailer) was acquired by CSC Generation Enterprise from TSG Consumer Partners.
Veri(metabolic health startup) was acquired by Ouri.
Mama Lycha Foods (Latin American food importer) received an investment from Rotunda Capital Partners and the Padilla family.
Heyday (skincare) was acquired by Essor, with the combined entity being renamed Essor.
STENDERS (Latvian bath and body care company) sold a majority stake to L Catterton.
iDesign (home organization housewares) received a $30M senior secured revolving line of credit from ARES COMMERCIAL FINANCE GP LP.
Big Lots (discount retailer) filed for Chapter 11 bankruptcy protection and agreed to sell to Nexus Capital Management for $760 Million.
LL Flooring ( flooring materials maker) reached a last-minute agreement with F9 Investments as part of a going-concern sale bid in Chapter 11.
PureGym (backed by KKR) was named the Stalking Horse bidder in the Chapter 11 sale of Blink Fitness.
Anthony's Coal Fired Pizza & Wings parent, BurgerFi, filed for Chapter 11.
PUBLIC COMPANY NEWS
The following public companies announced earnings this week: Academy Sports & Outdoors, Designer Brands, Gamestop, Inditex, Petco, Roche Bobois, The Children’s Place, Under Armour, Vera Bradley
BEFORE YOU GO
Ryan Seacrest begins his tenure as the host of “Wheel of Fortune”.
