NEWS WE’VE FOLLOWED THIS WEEK:
The U.S. inflation rate rose 2.6% in Oct’24, reported the U.S. Department of Labor, up from 2.4% growth in Sept’24.
Core retail sales in October rose 4.5% year-over-year, reports the National Retail Federation.
Holiday sales growth will slow to about 3% in 2024 from 4.7% last year, remaining well below the 5.3% 10-year average, predicts S&P Global.
Forrester similarly predicts that holiday retail sales will grow 3.7% (to $1T) vs 2023, lower than the previous four years but higher than pre-pandemic years.
The Business of Fashion released its annual 2025 State of Fashion report, a worthy read as always.
M&A AND FINANCING NEWS
Aquatalia (footwear brand) was acquired by Vida Shoes International from ADHJA Aquatalia LLC.
JustEatTakeaway.com (Dutch online delivery conglomerate) was acquired by Wonder (delivery food hall).
HYPE (streetwear brand) sold a 60% stake to Apparel Brands (backed by True Capital).
The Brisbane Bullets (Australian basketball team) sold a majority stake to GameAbove Sports (backed by CapStone Holdings, Inc.).
AYA Medical Spa (nine-location medspa franchise) sold a stake to Eagle Merchant Partners.
Divi (scalp care) sold a minority stake to Norwest Venture Partners.
MYKITA (German eyewear brand) sold a minority stake to LVMH.
boohoo (digital retailer) raised £39M to support turnaround efforts.
Forerunner Ventures announced a new $500M fund focused on early-stage consumer start-ups.
PUBLIC COMPANY NEWS
Purple Innovation (mattress) received a delisting warning from Nasdaq.
Tapestry and Capri terminated their Merger Agreement.
Klarna (e-comm payment processing) filed to IPO on the NYSE at a valuation of $14.6B
The following public companies announced earnings this week: Beachbody, BeautyHealth, Burberry, Callaway Golf, Giant Group, JD.com, On Holdings, Sally Beauty, The Honest Company, and Topgolf Callaway Brands.
BEFORE YOU GO
Make sure to check out Accessories Council 2024 Holiday Issue , which highlights trends of the season, noteworthy artists and designers, along with a great piece by Editor-In-Chief Karen Giberson about MMG Advisors, Inc. on pp 34-35!
Thanksgiving is less than two weeks away.
