Story of the Week
American Exchange to buy Allbirds for $39M
American Exchange Group has agreed to buy direct-to-consumer footwear brand Allbirds for about $39 million, the companies said on March 30th. Allbirds warned of “substantial doubt about our ability to continue as a going concern” in its financial filings on March 31st. The company has closed all of its full-price U.S. stores in recent months. Last year, Allbirds’ net sales plummeted nearly 20% year over year to $152.5 million. Gross margin contracted to 41% from 42.7% a year earlier. The company said it has never turned a profit; its net loss last year narrowed by 17% compared to 2024 but still exceeded $77 million.
Apparel & Footwear
New Balance partners with Kizik’s parent company for hands-free tech
HandsFree Labs has signed a licensing partnership with New Balance to bring its patented hands-free shoe technology to the sneaker brand. The first products are slated to launch in 2027, according to an announcement emailed to Retail Dive. HandsFree Labs is the parent company of Kizik, known for its slip-in footwear. New Balance joins other licensees of HandsFree Labs, which include Nike. The announcement follows New Balance reporting full-year global sales of $9.2 billion, up nearly 20% year over year. The results mark the fifth consecutive year of double-digit growth and global market share gains.
PVH’s Step-by-step Approach Tops Q4 Earnings Expectations
When Stefan Larsson became chief executive officer of PVH Corp. in 2021, he steered the company in a new direction. PVH’s traditional impulse to acquire competitors—which brought its star brands Tommy Hilfiger and Calvin Klein into the fold—was reduced in favor of devoting more resources to building those brands. While the full realization of Larsson’s PVH+ strategic plan is still in progress, the CEO said the company’s performance last year and in the fourth quarter demonstrates how far it has come. “We feel really good about how we ended the year,” Larsson told WWD in an interview, pointing specifically to fourth-quarter adjusted operating margins of 10%.
Jill sales decline continues amid tough economic backdrop
Jill’s fourth-quarter net sales dropped 3.1% year over year to $138.4 million, according to a March 31st press release. The retailer’s total comparable sales decreased 4.8%. The company’s direct-to-consumer net sales increased 2.6% for the quarter but declined 0.8% for the full fiscal year 2025. J. Jill reported a Q4 net loss of $3.5 million, compared to net income of $2.2 million in the year-ago period. Full-year net sales dropped 2.3% to $596.5 million. For fiscal year 2026, net sales are expected to be flat to down 2%, and comparable sales are expected to decline 1% to 3%.
Athletic & Sporting Goods
HGGC Sells Grand Fitness Partners to Flynn Group
HGGC, a private equity firm based in Palo Alto, California, has announced the completion of its sale of Grand Fitness Partners, a national fitness club chain, to the Flynn Group, a Canadian investment firm. The sale represents a significant transaction in the highly competitive fitness industry, as large private equity firms continue to acquire and consolidate regional and national gym operators. The deal also highlights the growing interest of Canadian investors in the U.S. fitness market. Grand Fitness Partners operates over 150 fitness centers across the United States. HGGC, which acquired the company in 2021, has now sold it to the Flynn Group, a Canadian private investment firm focused on the health and wellness sector. The transaction will allow Grand Fitness Partners to expand its footprint and capitalize on growing consumer demand for fitness services.
Teamworks acquires Pro Football Focus’ data platform
Teamworks has strengthened its position in elite football with the acquisition of Pro Football Focus’ enterprise data analytics platform. PFF’s consumer-facing business will remain distinct and will now license the foundational data metrics from Teamworks. PFF CEO Cris Collinsworth and the firm’s investors — including Silver Lake and Western & Southern — will become shareholders in Teamworks. Collinsworth is now also an advisor to Teamworks. PFF provides football coaches and analysts unique insights and context, such as data labels on when the quarterback threw under pressure, what route the receiver ran and even what stance a pass rusher was in at the time of the snap. PFF is used by all 32 NFL teams and more than 240 NCAA Division I programs. It is Teamworks’ 14th acquisition and 10th in the last three years. Wide Left first reported last month on the prospect of PFF’s acquisition.
Cosmetics & Pharmacy
Estée Lauder and Puig Advance Talks on Potential Combination
The Estée Lauder Companies and Puig are advancing discussions to combine their businesses in a largely stock-based deal. The proposed transaction would bring together portfolios including brands such as MAC, Le Labo, Charlotte Tilbury, and Byredo, creating a major global luxury beauty player. The deal is expected to be primarily stock-based and could be announced within weeks, although no final agreement has been reached. As part of the discussions, Puig Executive Chairman Marc Puig is expected to join the board and play a key role in integration, ensuring continuity and family involvement in the combined entity.
Beiersdorf Launches €100M Venture Fund to Drive Skincare Innovation
Beiersdorf has launched a new €100 million corporate venture capital fund to accelerate innovation in skincare. The Skin Care Innovation Fund doubles the size of its 2020 predecessor and will invest globally in early- to growth-stage companies across life sciences, biotechnology, sustainability, AI, and digital health. Initial investments will typically range from €0.5 million to €5 million. The fund builds on an existing portfolio of more than 15 companies, including microbiome specialist S-Biomedic, which was later acquired, as well as startups in longevity science and sustainable materials. Beyond funding, Beiersdorf will provide access to its R&D capabilities and global brand platforms to help scale innovations.
Thorne is on pace for $650 million in sales as Gen Z fuels a supplement boom
Supplement brand Thorne is on pace to reach $650 million in annual revenue this year, fueled by Gen Z and millennial shoppers who are increasingly focused on improving their health, CNBC has learned. The 42-year-old supplement brand, which L Catterton took private in 2023, has sustained a compound annual growth rate of over 30% since the acquisition, according to the company. Between 2022 and 2025, its revenue more than doubled from $229 million to over $500 million, according to filings and the company. Meanwhile, the number of consumers who shop with the brand directly has grown to about 7 million, up from around 4 million at the end of 2023, fueling a 63% surge in direct-to-consumer sales, the company said.
American Pacific Group Announces Investment in Dossier
American Pacific Group (APG), a San Francisco Bay Area–based private equity firm, announced that an APG affiliate has made a strategic investment in Dossier, a leading creator of high-quality fragrances focused on making premium scent experiences accessible to all consumers. The investment is in partnership with the company’s founder and other existing shareholders. Sergio Tache, Founder and Chief Executive Officer, will continue to lead Dossier through its next phase of growth. Dossier, headquartered in New York, NY, has emerged as a fragrance category-disrupter, focused on building the next-generation modern fragrance house.
Peachy Secures Investment from Stride, Eyes Expansion
Botox provider Peachy has landed new investment from Stride Consumer Partners.
Launched in 2019 by Dr. Carolyn Treasure and Eric Zhang, Peachy now operates 15 locations across six cities: New York, Chicago, Atlanta, Austin, Washington, D.C., and Charlotte, N.C. Terms of the deal weren’t disclosed, apart from that Peachy, which offers a flat-fee pricing model, saw revenue grow more than 60 percent last year, while the company expanded from 12 to 15 studios. While the main focus for Peachy is services, it does have a small product line, including Tinted Facial Sunscreen SPF 50, $35, Mineral Facial Sunscreen SPF 50, $35, Moisturizing Cream, $45, as well as Prescription Retinoid Cream. Peachy’s existing investor base includes BrandProject, Brand Foundry Ventures, Great Oaks Venture Capital, Pascal Capital and Base10.
Discounters & Department Stores
Saks Global snags $500M in financing, expects to exit bankruptcy this summer
Saks Global expects to complete its bankruptcy proceedings sometime this summer and has secured $500 million in exit financing, the luxury department store company said on April 2nd. Vendors are increasingly returning, as more than 650 brands have resumed shipping merchandise, accounting for $1.5 billion in retail receipts, the company said. This is up from 500 in early March and means Saks Global now has the vast majority of inventory expected for Q1. March inventory receipts were up 18% compared to a year ago, when many vendors stopped shipments due to overdue bills and a delayed payment scheme—a situation that dragged down sales and contributed to the Chapter 11 filing.
Dollar Tree makes distribution, tech upgrades
Dollar Tree is investing in its distribution network and replacing legacy technology systems to improve visibility into inventory management across its growing store footprint, executives said on recent analyst calls. This past quarter, Dollar Tree reported that inventory levels were down 7% year over year, while sales were up 9% year over year, CFO Stewart Glendinning said on a March 16 earnings call. “We’re raising the bar across the organization, and we’re seeing strong execution from our supply chain team as service levels, in-stock metrics, and inventory discipline continue to improve,” CEO Michael Creedon said during the call.
Emerging Consumer Companies
Mars Men, a rapidly emerging leader in men’s health that uses a proprietary combination of 100% drug-free, natural ingredients to help men feel like themselves again, announced it has raised $27.5 million in Series A funding led by L Catterton, the largest global consumer-focused investment firm. Founded with a mission to provide men with the option of science-backed natural ingredients to enhance the body’s natural function, Mars Men harnesses both ancient herbs and modern supplements to support men’s long-term health and vitality. Since launch, less than 18 months ago, the brand has scaled to a $100 million revenue run rate while remaining profitable and raising no outside capital since founding.
Zurich’s Covalo raises €3.5 million to become the data backbone for the personal care industry
Covalo, a Zurich-based ingredients discovery and data platform for the personal care industry, announced a €3.5 million Seed extension to support its transition from a marketplace to the industry’s reliable data infrastructure. The round was led by Hi inov, with participation from existing investors HTGF and seed+speed Ventures. Covalo also announced its 5-year industry anniversary. Timo von Bargen, co-founder and Co-CEO, said, “Five years ago, we built the world’s largest ingredient discovery platform. What we’ve learned is that discovery is just the beginning – what the industry needs is a shared system of record where ingredient data is structured once, governed once, and reused everywhere…”
Blank Street Coffee in talks to raise $100 million
Coffee chain Blank Street Coffee is reportedly in initial discussions to raise at least $100 million in new investment as it pursues further international growth. Talks over the fresh funding remain at an early stage, and key details are yet to be determined, the Financial Times reported. The coffee chain was reportedly valued at $500 million last year. A new deal could lift that figure to close to $1 billion.
Food & Beverage
McCormick buys Unilever’s food business in deal that values it at nearly $45 billion
McCormick will buy Unilever’s food business for a combination of cash and equity, in a deal that values the Unilever unit at nearly $45 billion, the two food companies announced. To purchase most of Unilever Foods’ portfolio, including Hellmann’s mayo and the U.K. favorite Marmite, McCormick will pay $15.7 billion in cash. The deal will add billions of dollars in annual sales for McCormick and expand the spice giant’s portfolio further into spreads and condiments. It already owns Frank’s RedHot and Cholula hot sauces and French’s mustard and mayo. About 70% of Unilever Foods’ sales come from Hellmann’s and Knorr, a food brand known for its seasonings, stock cubes, and soups.
Constellation Brands buys Hopwtr, expands nonalcoholic portfolio
Constellation Brands has agreed to acquire Hopwtr, a nonalcoholic sparkling water brand flavored with hops, for an undisclosed amount. The deal gives Constellation the remaining interest in the beverage company and full ownership of the nonalcoholic brand. Hopwtr has been part of Constellation’s venture portfolio since 2021. The addition of Hopwtr expands Constellation’s reach in the nonalcoholic sector. The beer giant has previously focused on nonalcoholic offerings of its signature beer brands, including Modelo and Corona.
Private equity firm Main Post Partners takes minority stake in Stellar Snacks
Private equity firm Main Post Partners has acquired a minority stake in better-for-you pretzel maker Stellar Snacks. Main Post described the transaction as a “strategic growth” investment, financial terms of which weren’t disclosed. The company said the move comes as Stellar, with headquarters in Carson City, Nev., has driven “sustained national expansion” via retail distribution with Costco, Target, Sprouts, Kroger, Albertsons, Safeway, Whole Foods Market and other grocery and specialty retailers nationwide. Founded in 2019 by mother/daughter entrepreneurs Elisabeth and Gina Galvin, Stellar Snacks has built a strong consumer following with its artisan-quality pretzels made from clean ingredients and featuring bold flavors and artistic, colorful packaging, according to Main Post.
Grocery & Restaurants
Coca-Cola launches ad campaign with Domino’s, Wendy’s, Wingstop
Coca-Cola on Thursday unveiled a new marketing campaign to boost sales of its soda at restaurants as declining traffic and sluggish sales growth challenge both the industry and its top beverage supplier. The campaign marks the first time Coke has released ads featuring multiple restaurant partners. The commercials flash across different consumers ordering their meals at a medley of chains, all ending their orders with the same phrase, “And a Coke.” Across the three spots released Thursday, 13 different chains share the spotlight: Arby’s, Culver’s, Domino’s Pizza, Five Guys, Jack in the Box, Jimmy John’s, Panda Express, Popeyes, Sonic, Wendy’s, Whataburger, White Castle and Wingstop. For restaurants, drinks — even a simple Coke — are high-margin menu items, helping lift profits in an industry known for its razor-thin margins. That sale becomes even more important as consumers cut back on restaurant visits and spend less when they do dine out.
Starbucks to award bonuses to baristas, expand tipping
Starbucks will award baristas and shift supervisors quarterly bonuses of $300 if their stores hit certain targets to aid the coffee chain’s turnaround efforts. The program will begin in July, with the first payout coming in the fall to store employees who meet or exceed specific sales, operational and customer service metrics, Starbucks Chief Operating Officer Mike Grams and Chief Partner Officer Sara Kelly wrote in a memo to employees on Thursday. Under CEO Brian Niccol, Starbucks has been undergoing a turnaround focused on getting “back to Starbucks.” Much of the strategy has centered on improving the customer experience, from making its cafes cozier to requiring baristas to write messages on cups. But the turnaround plan also hinges on its baristas and their willingness to carry out Niccol’s vision. Starbucks has tried to improve the barista experience, with improved staffing and plans to add assistant managers to most North American locations this year. More changes are ahead for baristas.
Home & Road
Bassett earnings slip amid soft housing, consumer sentiment
Bassett Furniture Inds. reported a year-over-year decline in sales and earnings for its fiscal first quarter, citing a slowing housing market, weather-related disruptions and tariff impacts on margins. For the quarter ended Feb. 28, the company reported consolidated revenue of $80.3 million, down 2.2% from $82.2 million in the prior-year period. Operating income fell to $1.2 million, or 1.4% of sales, compared with $2.5 million, or 3% of sales, a year earlier. Diluted earnings per share were 13 cents, down from 21 cents. The company also used $5.5 million in operating cash during the quarter, which it said is typical for the first quarter due to seasonally slower business during the holiday period and expected working capital changes.
Bed Bath & Beyond CEO Details Planned Purchase, Integration of The Container Store
Marcus Lemonis, Bed Bath & Beyond executive chairman and CEO, revealed in a letter to shareholders details of the company’s latest agreement to acquire The Container Store. Lemonis also announced Adrianne Lee, Bed Bath & Beyond’s chief financial officer, was leaving the company. Sally Beauty Holdings announced Lee had joined its organization as CFO. Amy Sullivan, named Bed Bath & Beyond president in conjunction with its merger with the Brand House Collective, after Bed Bath & Beyond’s acquisition of the former Kirkland’s Home business, will serve in the same capacity at the enlarged company after it acquires The Container Store. In that role, Sullivan will be responsible for performance and integration of the entire enterprise, including Bed Bath & Beyond, Buy Buy Baby, Overstock.com and Kirkland’s, as well as The Container Store and its ancillary operations. Lisa Foley will transition from Bed Bath & Beyond chief marketing officer to COO, with responsibility for operational execution across the enterprise. Former Petco financial chief Brian LaRose will serve as CFO, overseeing financial strategy, capital allocation and performance discipline.
Jewelry & Luxury
Tanishq Opens First New England Location
Tanishq has opened its first store in New England as it continues expanding its presence in the United States. The India-based jewelry retailer opened a new 4,000-square-foot showroom in Westborough, Massachusetts, marking its 10th U.S. location. The location, which opened on Dec. 4, 2025, held its official launch celebration on March 6. “Opening in Westborough marks an important milestone for Tanishq as we establish our presence in New England,” said Amrit Pal Singh, head of business, North America, Titan Company Limited. “Our 10th location in the United States reflects the growing appreciation for Indian craftsmanship, and we’re excited to introduce Tanishq’s heritage of gold artistry and contemporary design while continuing to expand across the U.S.”
Baccarat Appoints Thais Roda as North America CEO
Baccarat, the renowned French luxury crystal brand, has appointed Thais Roda as the new CEO of its North America operations. Roda, a veteran of the luxury and design industries, will be tasked with strengthening Baccarat’s performance and desirability across retail and wholesale channels, deepening client engagement, and expanding the brand’s visibility through partnerships and new initiatives. North America is Baccarat’s second-largest market after Japan, making Roda’s appointment a key strategic move for the brand as it looks to reinforce its positioning and presence in the region. Roda’s extensive experience in luxury operations and her track record of driving growth and profitability will be crucial as Baccarat continues to expand its crystal collections, hospitality offerings, and lifestyle products.
Office & Leisure
Connecticut Sun sold to Fertitta family, will relocate to Houston for 2027 season
The Fertitta family, led by Houston Rockets owner Tilman Fertitta, reached a deal to purchase the Connecticut Sun for $300 million last Friday, according to ESPN’s Alexa Philippou. The Sun confirmed the news in a release. As a result, the franchise will relocate to Houston in time for the 2027 campaign after one last run in Connecticut this summer. This paves the way for the franchise to be rebranded as the Comets, which was one of the original WNBA franchises when the league was first founded. The Comets won four straight WNBA titles from 1997-2000 behind stars like Sheryl Swoopes, Cynthia Cooper and Tina Thompson, but the team was disbanded after the 2008 campaign.
Gamehost to Be Acquired by Pure Casino Entertainment in Premium All-Cash Deal
Gamehost Inc. has agreed to be acquired by Pure Casino Entertainment for $13.65 in cash per share, valuing the deal at a roughly 16% premium to the company’s recent TSX closing price. The combination will unite two of Alberta’s leading gaming and hospitality operators, with Gamehost’s leadership emphasizing continuity for guests and employees under Pure’s ownership. The transaction will proceed via a court-approved plan of arrangement targeted to close in mid-2026, subject to shareholder, court and regulatory approvals but not financing conditions. Support agreements covering about 41.3% of Gamehost shares, plus customary protections such as non-solicitation, right-to-match and breakup fee provisions, bolster deal certainty for both parties.
Technology & Internet
SpaceX confidentially files for IPO, setting stage for record offering
Elon Musk’s SpaceX has confidentially filed for an IPO with the Securities and Exchange Commission, sources told CNBC’s David Faber, bringing Elon Musk’s rocket company one step closer to what’s expected to be a record public offering. Bloomberg was first to report on SpaceX’s confidential filing, and adding that the company could seek a valuation of $1.75 trillion, with a listing around June. Founded by Musk in 2002 to develop and operate reusable rockets, SpaceX has turned into NASA’s biggest launch partner after the agency ended its space shuttle program in 2011. The company merged with Musk’s xAI in February, creating a combined entity that he valued at the time at $1.25 trillion. A confidential filing allows companies to submit their financials to the SEC for regulatory review before revealing them to the public and prospective investors. SpaceX will have to release a public filing at least 15 days before its IPO road show.
Amazon add 3.5% fuel and logistics surcharge for sellers amid Iran war
Amazon is adding a 3.5% “fuel and logistics-related surcharge” to fees it collects from third-party sellers who use its fulfillment services, as the war in Iran stretches into its fifth week, driving up oil prices. The surcharge will take effect on April 17, for sellers in the U.S. and Canada, the company wrote in a note to sellers on Thursday that was viewed by CNBC. “Elevated costs in fulfillment and logistics have increased the cost of operating across the industry,” Amazon wrote. “We have absorbed these increased costs so far. However, similar to other major carriers, when costs remain elevated, we implement temporary surcharges on our fulfillment fees to recover a portion of the actual cost increases we are experiencing.”
Finance & Economy
U.S. payrolls rose by 178,000 in March, more than expected; unemployment at 4.3%
The U.S. labor market bounced back in March, with job creation much stronger than expected though the broader picture of a slow-growth labor market held intact. Nonfarm payrolls rose a seasonally adjusted 178,000 during the month, a reversal from the 133,000 decline in February and better than the Dow Jones consensus estimate for 59,000, the Bureau of Labor Statistics reported Friday. February’s number was revised down by 41,000 while January was revised up by 34,000 to 160,000, putting the three-month average around 68,000. The unemployment rate edged lower to 4.3%, though that was largely from a sharp reduction in the labor force. “The bottom line is March was somewhat encouraging, but it’s been a rocky year for the labor market with almost no hiring since last April,” said Heather Long, chief economist at Navy Federal Credit Union. “The March data will keep the Federal Reserve on hold, but no one is declaring victory yet. It’s likely to be a tough spring for job seekers.”
Consumer sentiment falls 6%, hit by declining stocks, higher gas prices
Consumer sentiment fell 6% this month to its lowest level this year, as turmoil from the war in Iran pushed up gas prices and weighed on stock markets, the University of Michigan said. The short-term economic outlook among households dropped 14%, and expectations for personal finances over the next year fell 10%, based on a survey conducted from February 17 to March 23. “Consumers with middle and higher incomes and stock market exposure, affected by rising gas prices and volatile financial markets following the Iran conflict, showed particularly large declines in sentiment,” Joanne Hsu, director of the university’s Surveys of Consumers, said in a statement.
