Apparel & Footwear

KNS International acquires Birdies

Direct-to-consumer footwear brand Birdies has been acquired by KNS International, an e-commerce company backed by private equity firm Centre Partners, according to a press release on Mar 11th. While financial terms of the deal were not disclosed, the companies said Birdies co-founder Bianca Gates will join KNS as brand president. The move expands KNS’ brand portfolio, which includes Vance, Taft and Journee. Birdies, which offers flats, slides, sneakers, and sandals, will be positioned as a flagship brand within the KNS’ portfolio, according to Greg Tunney, CEO of KNS.

UK’s Boohoo rebrands as Debenhams Group amid strategic overhauls

As part of its strategic shift, British online fast fashion retailer Boohoo Group has decided to operate under the name Debenhams Group with immediate effect. In a significant strategic reshuffle, the group also announced the appointment of Phil Ellis as chief financial officer (CFO), with immediate effect, as he joins the board replacing Stephen Morana. This change comes as part of the accelerated transition towards the Debenhams-led business and operating model. The group reaffirmed its commitment to investing in its Youth Brands in the short term as part of its turnaround strategy. Meanwhile, the company has raised its medium-term guidance for Debenhams, targeting EBITDA margins of approximately 20 percent.

Inditex Sales, Profits Surge in 2024 as Fashion Giant Sharpens Operations

Zara parent Inditex shrugged off the threat of tariffs in the U.S., the company’s second-largest market after Europe, as it reported a 10.5 percent uptick in sales and historic highs in profitability in fiscal 2024. Chief executive officer Oscar Garcia Maceiras said that while the impact of import tariffs was difficult to predict, Inditex is in a good position due to its “geographical diversification in terms of sourcing and sales.” Reinforcing that point during an analyst call on Mar 12th, Maceiras reconfirmed guidance of a flat gross margin plus or minus 50 basis points for 2025. Inditex is looking to the future with confidence following a strong 2024, with sales up 10.5 percent at constant currency to 38.6 billion euros. At the reported exchange rates, sales grew 7.5 percent.

Athletic & Sporting Goods

Solo Brands Ends 2024 with $12M in Cash; Sees Credit Compliance Doubtful

Solo Brands, Inc., the parent of the Solo Stove, Oru Kayak, Isle, Chubbies, and TerraFlame brands, has disclosed in its 2024 Annual Report on Form 10-K filed with the SEC that there is substantial doubt about its ability to continue as a going concern.  On a conference call with analysts the company executives said that due to uncertainty in the business and the company’s expected level of indebtedness, without the application of successful mitigating strategies, Solo Brands, Inc. expects to experience difficulty remaining in compliance with the financial covenants in its credit agreement.  Larson said during his prepared remarks that they did not plan to take questions after their prepared remarks, which is unusual for the conference calls.

PUMA Becomes Official Partner of the Premier League

PUMA will become the Official Ball Supplier of the Premier League, which includes the provision of match balls at all League matches from the start of the 2025/26 season.  Through this partnership, PUMA will also support the Premier League across multiple initiatives, from community-based football programs that nurture grassroots talent to high-impact marketing campaigns and events such as the Premier League Summer Series, which will be hosted in the United States in July.  The Premier League, broadcast to 900 million homes in 189 countries, offers an unparalleled platform for visibility and international growth. With the competition’s vast global reach and PUMA’s commitment to performance and innovation, this collaboration is poised to drive both brand awareness and engagement, delivering premium experiences for fans, athletes, and communities alike.

Cosmetics & Pharmacy

Townhouse to acquire Glosslab assets via bankruptcy process

Townhouse has struck a deal with administrators to acquire the assets of ailing US nail salon chain Glosslab as part of the latter’s bankruptcy proceedings. Under the terms of the Chapter 11 filing, the UK-based nail brand will purchase Glosslab’s inventory, equipment, and New York leases for US$425,000. According to a report published by WWD, Glosslab’s intellectual property will be sold in a separate transaction to VD Brand Holdings for US$100,000 with Townhouse named as next in line should the sale fall through. VD Brand Holdings owner Adam Weitsman told WWD, “In Glosslab, I saw an opportunity to transform a strong brand into a global leader through smart, strategic growth. Our vision is to build Glosslab’s foundation of excellence while implementing carefully planned growth that prioritizes sustainability and profitability.”

Grove Collaborative Announces 8Greens Acquisition

Grove Collaborative Holdings, Inc. the world’s first plastic neutral retailer, a leading sustainable consumer products company, certified B Corporation, and Public Benefit Corporation, announced on Mar 11 it has completed the purchase of substantially all of the assets of 8Greens, an early natural wellness company and one of the first brands to create daily greens supplements in gummy and effervescent tablet formats. This acquisition provides a strong foothold for Grove to continue its expansion into wellness, support customers’ needs for quality supplements, and partner with a beloved brand to educate on human health. 8Greens is well known for their supplements that help customers get a significant dose of eight essential greens packed with vital nutrients — spinach, kale, aloe vera, wheatgrass, blue green algae, barley grass, chlorella, and spirulina.

Kenvue and Starboard Resolve Board Dispute over Skin and Beauty Performance

Kenvue, the consumer health company behind skincare and beauty brands like Neutrogena and Aveeno, has settled a months-long proxy fight with activist investor Starboard Value. As part of the agreement, Kenvue appointed three new directors to its board, including Starboard CEO Jeffrey Smith. Starboard’s involvement began last October when it acquired a stake in Kenvue and voiced concerns about the skin health and beauty segment’s weak performance. By adding new perspectives to its board, Kenvue aims to revitalize its beauty segment and improve returns for shareholders. This resolution underscores growing pressure in the cosmetics and personal care space to optimize brand portfolios and address shifting consumer demands.

e.l.f. Beauty Locks In US$500M Credit and Repurchases US$50M in Stock

e.l.f. Beauty has entered into a new US$500 million revolving credit agreement, securing lower interest rates compared to its previous facility. Simultaneously, the cosmetics brand repurchased US$50 million of its common stock under a broader US$500 million buyback program. Following this transaction, US$450 million remains available for future share repurchases. With 80% of e.l.f.’s products sourced from China, the company is bracing for potential tariff impacts, which may force it to revisit pricing well into fiscal year 2026. By solidifying its credit resources and repurchasing shares, e.l.f. Beauty aims to maintain financial flexibility and value for stakeholders amid an uncertain trade landscape. Tariff pressures and changing consumer patterns are prompting the brand’s cautious approach heading into the next fiscal year.

Discounters & Department Stores

Kohl’s Posts Another Tough Quarter With 6.7% Comp Sales Decline

Kohl’s Corp. continued to show declines last quarter and doesn’t expect to reverse the trend this year. Net income for the fourth quarter ended Feb. 1 was $48 million, or 43 cents a diluted share, and adjusted net income came to $106 million, or 95 cents. This compares to net income of $186 million, or $1.67, a year earlier. Operating income was $126 million compared to $299 million a year earlier. As a percentage of total revenue, operating income totaled 2.3 percent, a decrease of 270 basis points year-over-year. Net sales in the fourth quarter fell 9.4 percent to $5.2 billion, with an extra week in the year-ago quarter making results look worse than they would have otherwise. Comparable sales, which adjust for calendar changes, decreased 6.7 percent.

Dollar General store review and closures dent fourth-quarter earnings

On March 13th, Dollar General reported fiscal fourth-quarter revenue that narrowly beat Wall Street estimates, while a store portfolio review cut into the chain’s profit. As part of the reevaluation, the dollar-store chain said it will close 96 Dollar General stores and 45 Popshelf stores and will convert six other Popshelf stores into flagship banner locations in the first quarter. Popshelf stores cater to higher-income shoppers seeking inexpensive products. On the company’s earnings call, CEO Todd Vasos warned consumers “only have enough money for basic essentials” and that the macro environment isn’t likely to improve this year.

Emerging Consumer Companies

Pickle, peer-to-peer clothing rental marketplace, raises $12 million

Founded by two alumni of Blackstone’s technology group, Pickle is a peer-to-peer clothing marketplace. It’s pitch is that it’s an inexpensive, fast way for renters to participate in trends and dress for weddings, ski vacations, Halloween, or New York Fashion Week. For lenders, it’s a way to earn back some money on their investment pieces. “We’re basically empowering these women to have their own entrepreneurial closets,” says cofounder and COO Julia O’Mara. The rental service is available via mail nationwide, but is especially focused on New York, Los Angeles, and Miami, where lenders and renters can meet up or use courier services through Uber or DoorDash for immediate exchanges. Unlike resale platforms like The RealReal or rental services like Rent the Runway and Nuuly, Pickle is fully peer-to-peer, which means it’s responsible for no inventory. Pickle’s $12 million Series A was co-led by FirstMark and Craft Ventures, with participation from Burst Capital and FJ Labs. In total, the startup has now raised $20 million.

SaySo raises $4 million to solve retail’s costly clearance problem

SaySo is an end-to-end clearance solution and price optimization platform that emerged from stealth in late 2024 and immediately secured $4 million in seed funding, led by mobility VC firm UP.Partners. SaySo collaborates with retailers to create co-branded, interactive shopping experiences that turn clearance into profit-driven opportunities. The platform uses a gamified pricing model where item prices gradually drop over time, enabling shoppers to “name their price” while encouraging engagement and urgency. Unlike traditional clearance methods, SaySo enables retailers to sell excess inventory directly from their warehouses and distribution centers, eliminating costly logistics.

Piercing brand Rowan aims for 100 stores in 2025

Rowan is opening more locations as it looks to fill holes in the piercing market. The brand, which offers ear piercing services and sells hypoallergenic jewelry, plans to open 30 studios this year. By the end of 2025, it expects to have 100 locations. Over the last few months, Rowan opened new shops in Des Moines, Iowa and the Greater Philadelphia area. It’s now planning additional locations in states including New Jersey and Florida. Although Rowan carries earrings and cleansing solution, the majority of its revenue comes from its piercing services, which are carried out by licensed nurses. The brand is ramping up its physical retail footprint to better cater to a growing range of customers, from young children and teenagers to people in their 70s and 80s.

Food & Beverage

Monster Beverage founder to step down as co-CEO

Monster Beverage co-CEO Rodney Sacks will step down from the company in June, leaving Hilton Schlosberg as the beverage company’s sole chief executive, according to a filing with the U.S. Securities and Exchange Commission on Mar 10th. Sacks and Schlosberg are considered the co-founders of Monster, which transformed from a soda and juice provider into an energy drink powerhouse. Sacks will continue to serve as chairman through the end of 2026 if he is re-elected to the position. Schlosberg will be the sole CEO, effective June 13. According to the filing, the departure of Sacks, who is 75, is part of a planned retirement.

Hostess partners with sports nutrition company

Hostess Brands, a subsidiary of The J.M Smucker Co., has partnered with sports nutrition company REDCON1 for a multi-year partnership that will bring Hostess flavors to protein powders and ready-to-drink shakes. REDCON1 said it will launch limited-edition and seasonal protein flavor drops in tandem with seasonal Hostess treats. “Hostess has always been about bringing moments of joy to every day and we are excited to extend the delight our iconic treats offer through this partnership.” said Rebecca Yadav, Hostess senior brand manager of The J.M. Smucker Co. “Our collaboration with REDCON1 reflects our continued commitment to innovation and finding new ways to delight our fans.”

Grocery & Restaurants

Food Media Company Tastemade Acquired by Wonder, Parent of Grubhub, for $90 Million

Food-delivery company Wonder announced a deal to acquire independent media firm Tastemade, which produces original content spanning food, travel, and home and design. Financial terms of the deal weren’t disclosed. Wonder is buying Tastemade for about $90 million, according to sources, as first reported by the Wall Street Journal. Tastemade had raised $131 million from investors including Amazon, Goldman Sachs Growth Equity, Cool Japan Fund, Redpoint Ventures, Raine Ventures, Comcast Ventures and John Malone’s Liberty Media.

Craveworthy to expand cinnamon roll brand nationally

Craveworthy Brands has acquired Kinnamōns, a cinnamon roll concept founded by former National Football League player Ndamukong Suh. Kinnamōns uses locally sourced ingredients, glazes, and seasonal ingredients. The buns are baked fresh daily and come in flavors such as caramel apple pie, maple bacon, and cookies and cream. The company, which has multiple bakeries in Oregon, also sells espresso and flavored coffees. Craveworthy owns 16 brands in total, including Dirty Dough Cookies, Shaquille O’Neal’s Big Chicken, and BD’s Mongolian Grill.

Home & Road

Purple responds to ‘inbound’ interest to consider ‘strategic alternatives’

Mattress maker Purple Innovation has launched a review of “strategic alternatives” following what it calls “inbound expressions of interest.” The announcement was made just ahead of the company’s year-end and fourth quarter results. The company’s board of directors said it will consider opportunities to “maximize shareholder value,” including sale, merger or other “strategic or financial transaction.” The board has established a committee of three independent directors – Gary DiCamillo, Scott Peterson and Claudia Hollingsworth –to evaluate its options. No timetable has been set for concluding the evaluation, and the board has not made a decision related to possible alternatives.

Lush Decor acquires Trans Ocean to expand portfolio

Multi-category home fashions developer Lush Decor is moving into a new product category with the acquisition of long-time area rug developer Trans Ocean. Terms of the deal were not disclosed. Lush Decor’s acquisition of Trans Ocean, which was founded in 1908, adds floor décor to Lush Decor’s portfolio of bedding, shower curtains, decorative pillows, throws and table linens. One of the oldest rug importers in the country, Trans Ocean carries a full line of casual, lifestyle and traditional rugs in a wide assortment of sizes and variety of constructions. Its sourcing reach is equally broad, encompassing China, India, Turkey and Egypt.

Dorel’s difficulties continue as it reports $73M loss in Q4

Canadian home furniture supplier Dorel Inds. reported $326.8 million in fourth quarter revenue, a 6.8% decline from last year. The company also reported a net loss of $73 million, marking three straight years of being in the red. The loss includes $14.1 million in restructuring costs – which is part of a major effort announced earlier this year – as well as $36.5 million of write downs of deferred taxes. Revenue for the full year was $1.38 billion, down 0.6% from last year. The net loss for the year was $172 million, which includes restructuring costs of $17.4 million, an impairment loss on goodwill of $45.3 million and the $36.5 million in write downs. The company highlighted that its adjusted operating loss of $28.4 million was an improvement over last year’s loss of $47 million. As has been in the case for several quarters, Dorel’s Juvenile segment – which includes products such as strollers, car seats and cribs – outperformed the company’s Home furniture segment. Juvenile reported $212.8 million in quarterly revenue, a 0.4% increase from last year. Still, a $1.6 million profit for the quarter was a decline from the $11.3 million profit seen last year.

Jewelry & Luxury

Golden Goose Reports 13% Revenue Growth in 2024, Driven by Retail Expansion and Direct-to-Consumer Success

Golden Goose continued to grow in 2024, boosted by the strong performance of its retail channel and growth in its main markets, the Europe, Middle East and Africa region, and the U.S. In the 12 months ended Dec 31, revenues rose 13 percent to 654.6 million euros compared with 587 million euros in 2023. Figures were provided at constant exchange rates. Growth accelerated in the final quarter of 2024, as sales increased 14 percent to 188.6 million euros compared with the same period in 2023. “2024 has been a year of strong execution for Golden Goose, with double-digit growth underpinned by the continued success of our direct-to-consumer strategy and the strength of our unique brand and community,” said Silvio Campara, chief executive officer of the Golden Goose Group.

Brilliant Earth’s 2024 Sales Struggled Amid Engagement Recovery

Brilliant Earth posted declining revenue in Q4 and for the full year, though it saw a rise in total orders and growing demand for its non-bridal fine jewelry offerings. CEO Beth Gerstein said on an earnings call, “We continue to operate in a highly dynamic environment encompassed by pricing shifts in both lab and natural diamonds, normalizing engagement trends, and changing trends in consumer sentiment.” Gerstein noted that Q4 marked its 14th consecutive quarter of profitability as a public company.

Frédéric Arnault becomes CEO of Loro Piana amid LVMH exec reshuffle

Frédéric Arnault has been named the new CEO of Loro Piana. The 29-year-old son of luxury titan Bernard Arnault will join the Italian luxury brand, known for its fine cashmere, on 26 March for a period of transition with Damien Bertrand. Arnault will report to Toni Belloni, chairman of LVMH Italy. Bertrand is named deputy CEO of Louis Vuitton, effective June 10th, 2025. He will report to Louis Vuitton CEO Pietro Beccari and will oversee product creation and development, brand image and communication as well as industrial activities. He will also become a member of the LVMH executive committee in January 2026. Frédéric graduated from France’s prestigious École Polytechnique. After interning for Facebook’s AI department in New York, he joined Tag Heuer in 2017, then was promoted to CEO of LVMH’s watches and jewelry division in 2020. Frédéric became CEO of the watch brand in 2020, and in January 2024, was appointed CEO of LVMH Watches in charge of Tag Heuer, Hublot, and Zenith.

Office & Leisure

The Nutriment Company buys German pet-food business BAF

Acquisitive pet-food group The Nutriment Company has acquired BAF Petfood from German peer Fressnapf.  The financial terms of the transaction were not disclosed.  In a statement, Sweden-based The Nutriment Company said the deal represents the next phase in its “rapid expansion in Germany and across Europe”.  The transaction, the private-equity-backed group said, gives access to Fressnapf’s “extensive retail network”, which includes company-owned stores and franchises.  BAF Petfood operates from a former human food factory with over 9,000m² of production and storage space.  The company specialises in raw pet food, offering various formats such as sausages, nuggets, and flakes.

Gladstone Investment Corporation Exits Its Investment in Nocturne Luxury Villas

Gladstone Investment Corporation announced the sale of its portfolio company Nocturne Luxury Villas, Inc. to an affiliate of Calera Capital. As a result of this transaction, Gladstone Investment received full repayment of its debt investment and realized a significant capital gain on its equity investment. Gladstone Investment formed Nocturne in partnership with Aureus Capital, LLC in 2021. Nocturne was formed as a platform to acquire and integrate luxury vacation rental management companies. The Company currently has operations in St. Barth’s; Grand Cayman; Telluride, Colorado; Cabo San Lucas, Mexico; Santa Barbara, California; and Florida’s Emerald Coast.

Technology & Internet

Buy now, pay later lender Klarna files for U.S. IPO

Klarna, a provider of buy now, pay later loans filed its IPO prospectus on Friday, and plans to go public on the New York Stock Exchange under ticker symbol KLAR. Klarna, headquartered in Sweden, hasn’t yet disclosed the number of shares to be offered or the expected price range. The decision to go public in the U.S. deals a significant blow to European stock exchanges, which have struggled to retain homegrown tech companies. Klarna CEO Sebastian Siemiatkowski had hinted for years that a U.S. listing was more likely, citing better visibility and regulatory advantages. Klarna is continuing to rebuild after a dramatic downturn. Once a pandemic-era darling valued at $46 billion in a SoftBank-led funding round, Klarna saw its valuation slashed by 85% in 2022, plummeting to $6.7 billion in its most recent primary fundraising. However, analysts now estimate the company’s valuation in the $15 billion range, bolstered by its return to profitability in 2023. Revenue last year increased 24% to $2.8 billion.

Shares of iRobot tank 30% after Roomba maker issues ‘going concern’

Shares of iRobot plunged more than 30% on Wednesday after it said there is “substantial doubt” about its ability to stay in business. The Roomba maker’s financial outlook has darkened since Amazon abandoned its planned $1.7 billion acquisition of the company in January 2024, citing regulatory scrutiny. Since then, iRobot has struggled to generate cash and pay off debts. Massachusetts-based iRobot has been restructuring since the Amazon deal plunged into uncertainty. The company has laid off 51% of its workforce since the end of 2023, and iRobot has looked to reignite revenue growth by overhauling its product lineup. The company on Tuesday launched eight new Roombas in the hopes of “better positioning iRobot as the leader in the category that we created,” CEO Gary Cohen said in a statement.

Finance & Economy

Mortgage rates barely budge despite a wild week for financial markets

Mortgage rates were little changed this week despite a steep stock market sell-off brought on by President Trump’s rapidly evolving tariff policies and retaliatory moves from trading partners. The average 30-year mortgage rate was 6.65% through Mar 12th, according to Freddie Mac data, nearly flat from 6.63% a week earlier. Fifteen-year mortgage rates also showed little movement, rising a single basis point to 5.8% from 5.79%. Although they snapped a seven-week streak of moving lower, mortgage rates remain around a three-month low, encouraging more buyers to enter the market.

US wholesale inflation substantially slowed in February

Americans just got some reassurance that inflation was slowing and not reaccelerating last month. The Producer Price Index, a wholesale inflation gauge that is being closely watched for tariff-related impacts, showed that price hikes slowed substantially in February. The PPI index was unchanged from January, and rose 3.2% for the 12 months ended in February, according to Bureau of Labor Statistics data released Mar 13th. That marked a sharp slowdown from January, when prices rose 0.6% and 3.7% for those respective periods. Economists were expecting wholesale-level inflation to cool amid falling energy prices, and that was the case: Energy prices fell 1.2% for the month. Excluding food and energy, categories that tend to be volatile, core PPI fell 0.1% from January (when it sharply rose 0.6%), bringing the annual increase to 3.4%, down from a 3.8% rate the month before.

CPI inflation data cools in February, easing investor fears about the health of the US economy

February’s Consumer Price Index (CPI) report showed inflation pressures eased in February, calming some fears about the health of the US economy during a rocky few weeks for markets. The latest data from the Bureau of Labor Statistics showed that the Consumer Price Index (CPI) increased 2.8% over the prior year in February, below January’s 3% annual gain and ahead of economist expectations of a 2.9% annual increase. The index rose 0.2% over the previous month, a deceleration from the 0.5% increase in January and a beat compared to economists’ estimates of a 0.3% monthly uptick. On a “core” basis, which strips out the more volatile costs of food and gas, prices in February climbed 0.2% over the prior month, lower than January’s 0.4% monthly gain, and 3.1% over last year — the lowest yearly increase in core CPI since April 2021.