NEWS WE’VE FOLLOWED THIS WEEK:
The FED lowered its benchmark lending rate by a quarter point.
Bank of England cut interest rates ahead of the US Fed.
National Retail Federation predicts retailers can expect steady sales growth for the upcoming holiday season despite mixed October signals.
DTC beauty-sector transactions declined 7% in the UK and 10% in the US in Q3 2024, reports Consumer Edge’s most recent beauty digest.
M&A AND FINANCING NEWS
Casper (DTC mattresses) was sold to Carpenter Co. by Durational Capital Management.
PureGym (global gym operator) received regulatory approval to proceed with its’ $121M acquisition of Blink (Equinox-owned gym franchise).
Fix Your Lid (mens' grooming products) was acquired by Inspired Beauty Brands.
The Pro's Closet (pre-owned bicycle marketplace) was acquired by Elshair Companies.
OUR LEGACY (Swedish menswear brand) received an investment from LVMH.
Markham Enterprises Inc (Michigan-based convenience store chain) was acquired by SpartanNash.
Petfolk (veterinary urgent care) raised a $36M from Deerfield Management, among others.
Directional Capital raised an asset-based facility from SLR Credit Solutions to fund rent-to-own retail location acquisitions.
Primo Water (publicly-traded beverage company) will merge with BlueTriton Brands.
The Franchise Group (Vitamin Shoppe owner) filed for Chapter 11 bankruptcy protection and said it would wind down its American Freight banner.
TGI Fridays (casual dining chain) filed for Chapter 11 bankruptcy protection.
PUBLIC COMPANY NEWS
Walmart announced it would begin Black Friday sales on Monday, Nov 11,
The following public companies announced earnings this week: Allbirds, Asos, Canada Goose, Coupang, Coty, CVS Health, e.l.f. Beauty, HanesBrands, Hims & Hers, Hugo Boss, Kontoor Brands, Oddity, Olaplex, Pandora, Puma, Purple, Qurate Retail, Ralph Lauren, Revolve, The RealReal, ThredUp, Traeger, Inc., Vista Outdoor, Shiseido, Solo Brands, Steve Madden, Tapestry, Tempur Sealy, Under Armour, Vista Group, Warby Parker, Weyco Group, WW International, Yeti, and Zalando.
BEFORE YOU GO
Opening day for NCAA College Basketball was last Monday, November 4.
Hello Kitty turned 50 years old.
Rockefeller Center sees the arrival of the Christmas Tree.
