Apparel & Footwear

Skechers sued by investor group over go-private deal

A Skechers shareholder group is suing the footwear giant for allegedly violating federal securities law in its agreement to be acquired by 3G Capital. Attorneys for the plaintiff, Key West Police Officers & Firefighters Retirement Plan, say Skechers failed to file a Schedule 13E-3 with the U.S. Securities and Exchange Commission, which is required in go-private deals. In addition, the complaint was filed against Skechers CEO and Chairman Robert Greenberg and President Michael Greenberg individually. Attorneys for the plaintiff say both executives “made no representation that they intend” to file the document.

American giant Kontoor Brands acquires Helly Hansen to boost growth

Kontoor Brands has finalized its acquisition of Helly Hansen, strengthening its position in the outdoor and workwear markets. CEO Scott Baxter highlighted the deal’s role in boosting growth, diversification, and global reach. The acquisition is expected to be immediately accretive to revenue, adjusted earnings per share, and cash flow in fiscal 2025, in line with the outlook shared on May 6, 2025.

Victoria’s Secret postpones earnings following security incident

Victoria’s Secret & Co. has postponed its first-quarter earnings report following a security incident. The company first detected a cybersecurity breach on May 24 and engaged with protocols to contain and eliminate the unauthorized network access. The retailer shut down its website two days later, paused some in-store services and temporarily halted its customer care. The website was restored days later, and most of the functions that impacted Victoria’s Secret and Pink stores have been repaired. The company is still in the process of restoring access to some of its corporate systems. That recovery has prevented employees from accessing information needed to release the retailer’s Q1. Victoria’s Secret is set to announce a new release date. The security incident did not impact the retailer’s financial results for the quarter. The company expects net sales to reach $1.35 billion, compared to guidance of between $1.3 billion and $1.33 billion, with an adjusted operating income of $32 million.

Athletic & Sporting Goods

Catapult Group lends weight to growth strategy with $43m deal for US sports-tech Perch

Sports-tech Catapult Group International has acquired US-based athlete monitoring company Perch in a deal that could be worth up to US$28 million and expand the Australian company’s growth opportunities in the professional sports market.  The cash-and-scrip deal is priced at US$18 million up front, with an earn-out of up to US$10 million to be paid in Catapult shares between June 2027 and May 2028 should the business achieve prescribed ACV (annual contract value) milestones.  Born out of the Massachusetts Institute of Technology (MIT) and using advanced computer vision and artificial intelligence, the technology is said to “maximise every moment in the weight room to improve athletic performance”.  The Perch system records movements via a compact 3D camera that can be mounted to any weight rack to detect movements, record performance and provide instant feedback to athletes and their trainers.

Bay Club Acquires 425 Fitness as Club Count Climbs

The Bay Club Company, an operator of active and social lifestyle clubs on the West Coast, has acquired 425 Fitness, a trio of fitness centers in the greater Seattle area offering everything from hot yoga and saltwater pools to recovery zones equipped with Theragun and HydroMassage.  Backed by private equity giant KKR, Bay Club is in aggressive expansion mode. The company is actively pursuing additional acquisitions in major Mountain and Desert region cities as part of its national growth strategy.  The latest deal expands Bay Club’s Pacific Northwest footprint and formalizes a regional structure.

Cosmetics & Pharmacy

L’Oréal’s €1 Billion Bet on Medik8: Science, Strategy, and the Future of Premium Skincare

L’Oréal is poised to acquire UK-based skincare brand Medik8 for approximately €1 billion, marking a significant expansion of the French beauty giant’s premium dermocosmetics portfolio. The deal, which is in the final stages of negotiation with UK private equity firm Inflexion, represents a substantial investment in the rapidly growing science-led skincare sector. The acquisition values Medik8 at roughly nine times its projected 2025 revenue, highlighting the premium valuations currently commanded by clinically-backed skincare brands. While neither L’Oréal nor Medik8 has issued an official statement confirming the completion of the deal, industry sources indicate the agreement is expected to close imminently. This transaction continues L’Oréal’s strategic focus on strengthening its dermocosmetics division, which already includes established brands such as SkinCeuticals, CeraVe, and La Roche-Posay – all known for their scientific approach to skincare.

Dolce & Gabbana Secures €150 Million to Fuel Beauty Business Growth

Dolce & Gabbana has secured €150 million in new financing to accelerate growth in its beauty division, signaling a strategic pivot amid luxury market shifts. The Italian fashion house confirmed it has reached a deal with banks for additional debt funding, partially guaranteed by Italy’s state-backed credit insurer SACE SpA. The new financing will support expansion in both beauty and property, while also refinancing existing loans, originally worth €400 million. Discussions with lenders had been ongoing as Dolce & Gabbana eyes diversification. The company expects revenue from its beauty products to rise over 20% for the fiscal year ending March 2025. With luxury fashion demand softening and peers pursuing consolidation, Dolce & Gabbana is betting on beauty to drive future growth and preserve its independence. The brand sees cosmetics and fragrance as a resilient, high-margin category in an evolving luxury landscape.

Goodai Global to Acquire Skinfood in US$108 Million K-Beauty Power Play

Goodai Global Inc. has been named the preferred bidder to acquire South Korea’s heritage beauty brand Skinfood for 150 billion won (US$108 million), as it accelerates its acquisition-led expansion. The deal, backed by private equity firm The Hahm Partners, would add Skinfood—known for its natural skincare and makeup—to Goodai’s growing portfolio, which includes Beauty of Joseon, TIRTIR, and Laka. The company has spent over 1 trillion won acquiring four cosmetics firms in the past year and is in talks to buy Round Lab’s owner, Seorin Company, for 600 billion won. In 2024, Goodai more than doubled its sales and profit, and is now seeking 800 billion won in pre-IPO funding. By snapping up established K-beauty brands, Goodai is building a L’Oréal-style empire to meet surging global demand for Korean beauty products driven by Hallyu.

Discounters & Department Stores

Saks Global rescues its holiday with $350M in new financing

Saks Global has picked up $350 million in financing commitments from SLR Credit Solutions, including a $300 million first-in, last-out facility and a $50 million secured term loan facility, the company said on May 29th. The transaction is expected to close by June 30. The company acquired Neiman Marcus Group, which also includes Bergdorf Goodman, for $2.7 billion late last year, and was probably aware it could run into liquidity issues before long, according to Tim Hynes, head of credit research at Debtwire. Saks Global is also working on additional funding with a group of bondholders that holds a controlling stake and had been planning “an aggressive restructuring,” he previously told Retail Dive.

Wealthier consumers flock to Dollar Tree in Q1

With more higher-income customers shopping at its stores and without its Family Dollar business weighing it down, Dollar Tree Q1 net sales surged 11.3% year over year to $4.6 billion, with comps up 5.4%, traffic up 2.5% and average ticket up 2.8%. The discounter added 2.6 million new customers in the period, most of them from households earning $100,000 or more annually, CEO Mike Creedon told analysts. Family Dollar net sales fell 4.4%, per GlobalData research. The $1 billion sale of Family Dollar to private equity, announced in March, is expected to close in Q2 and net about $800 million, per Dollar Tree’s Q1 earnings release.

Costco holds prices on some tariff-impacted items, CFO says

Costco Wholesale’s tariff mitigation strategies have included pulling forward purchases of sporting goods and summer-related items ahead of the levies, rerouting goods sourced from countries with “large tariff exposure,” and buying more of its store brand Kirkland Signature product in countries or regions where the items are sold, executives said on the company’s earnings call May 29th. In its fiscal Q3 ended May 11, the warehouse club retailer’s CFO Gary Millerchip said tariff-driven inflation hit certain fresh goods from Central and South America, with the company making a decision to hold prices and potentially take a margin hit on some affected “staple” items like bananas, but not on a less essential product like flowers.

Emerging Consumer Companies

Vivrelle raises $62 million Series C

Vivrelle, the first-of-its-kind luxury accessories membership club, announced the close of a $62 million Series C funding round from Protagonist. This milestone investment marks a significant step forward in Vivrelle’s continued growth, empowering the brand to further integrate fashion and technology while redefining how today’s consumers experience luxury. Founded in September 2018 by newlyweds Blake and Wayne Geffen, Vivrelle is a first-of-its-kind membership club that provides access to a shared closet of coveted designer handbags, jewelry and diamonds for a monthly membership fee. With a dedication to making luxury accessories fun and flexible, Vivrelle provides members with the ability to borrow items with no return date.

InvestBev makes strategic six-figure investment in Lucky Beverage

InvestBev, the largest private equity firm focused on the adult beverage industry and CPG, announced a six-figure investment in Lucky Energy Drinks, a premium performance energy beverage brand redefining the wellness and energy drink space. The move marks a continued evolution of InvestBev’s investment thesis into fast-growing non-alcoholic categories that reflect shifting consumer demand. This latest investment highlights InvestBev’s 2025 strategic initiative to broaden its portfolio into non-alcoholic, energy, water, and wellness beverages, as more consumers actively seek better-for-you alternatives to traditional alcohol products.

Away appoints new CEO as it expands sales channels

In a planned transition, luggage brand Away appointed Jessica Schinazi as CEO. Co-founder and former CEO Jen Rubio will continue to guide the company’s long-term vision as executive chair of the board. Schinazi joined Away as president in late 2024 after serving as president of the Americas at Dyson before that.  Away did not immediately respond to Retail Dive’s inquiry about backfilling the president position. Away’s latest leadership shift comes as the brand expands further from its direct-to-consumer traditions. The luggage brand began selling on Amazon for the first time this year and debuted with its first retail partner, Nordstrom, in May. Away previously sold select products in nine pop-ups with Nordstrom in 2019.

Cult Aussie skincare brand Alpha-H sold to Vita Green for $50m

Gold Coast–based skincare group Alpha-H, renowned for its Liquid Gold range, has been sold by global buyout firm The Riverside Company to Hong Kong supplements group Vita Green. The transaction is valued at an estimated $50 million. Alpha-H reported annual sales of about $20 million and was profitable at the time of the deal. Alpha-H develops cosmeceutical formulations that bridge the gap between traditional beauty products and more invasive treatments. Its Liquid Gold line has built a cult following among skincare enthusiasts. Vita Green will leverage over 1,000 staff, three pharmaceutical factories, and offices across Asia, the US and Europe to accelerate Alpha-H’s expansion into Asian markets while preserving the brand’s independence and creative ethos.

Food & Beverage

Cal-Maine finalizes purchase of Echo Lake Foods

Cal-Maine Foods, Inc. announced the closing of its acquisition of Echo Lake Foods. The Company announced in April that it signed a definitive agreement to acquire Echo Lake Foods in an all-cash transaction for approximately $258 million, which is expected to provide a tax benefit of ~$28 million equating to an effective purchase price of ~$230 million. Echo Lake Foods produces, packages, markets and distributes ready-to-eat egg products and breakfast foods, including waffles, pancakes, scrambled eggs, frozen cooked omelets, egg patties, toast and diced eggs. Echo Lake Foods had annual revenues of approximately $240 million in 2024 with a five-year CAGR of approximately 10%.

Post Holdings buys rest of Ronzoni pasta maker for $880M

Post Holdings is spending $880 million to buy out the remainder of 8th Avenue Food & Provisions, which owns the Ronzoni pasta brand and makes a variety of dried goods such as granola and nuts. 8th Avenue was formed in 2018 when Post transferred its private label business to a new entity. Post sold a 39.5% stake in that entity to private equity firm THL, which it is now buying back. The deal is expected to close July 1, 2025, and Post will take over about $111 million in leases as part of the transaction. The acquisition further deepens Post’s presence in both private label and branded food, allowing it to provide a wider range of price points.

EagleTree Capital Makes Strategic Investment in NuTrail

EagleTree Capital, L.P. announced that it has made a strategic investment in NuTrail, a leading nut-based granola brand, on behalf of investment funds it manages. Terms of the transaction were not disclosed. In conjunction with this investment, Sheila Stanziale has joined NuTrail as Chief Executive Officer and will work alongside co-founders Ilya Avshalumov and Roni Avshalumov. Sheila Stanziale was previously the Founder & CEO of Spudlove Snacks, CEO of Mighty Leaf Tea Company, and President of Diageo-Guinness USA. She also held senior executive roles at PepsiCo over a fourteen-year period. “We are excited to partner with EagleTree and Sheila, who share our vision and values,” said Ilya Avshalumov. “Both Sheila’s expertise and EagleTree’s resources and incredible team will enable us to accelerate NuTrail’s growth.”

Grocery & Restaurants

Dave’s Hot Chicken acquired by Roark Capital

Dave’s Hot Chicken announced on Monday that it has been acquired by Roark Capital, as was rumored earlier this year, at a $1 billion valuation. The leadership team at the 315-unit fast-casual restaurant will remain in place. Dave’s Hot Chicken will use the investment to fuel its growth, hoping to open 155 more restaurants this year and 155 next year, both domestically and abroad. In addition to the U.S., it is open in Canada, the U.K., and the Middle East. Executives also hope to be able to expand Dave’s Hot Chicken in non-traditional ways, adding units in airports and malls, which many of Roark’s brands have. Dave’s Hot Chicken plans to maintain its franchise model going forward.

Chipotle to target more aggressive international growth strategy

Chipotle Mexican Grill is setting its sights on a more robust international expansion strategy as the brand simultaneously tackles softening consumer sentiment in the U.S. CEO Scott Boatwright noted that “most [of our competitors today] are 1-2 times the size of their North American business” and that number is “absolutely achievable for Chipotle.” Boatwright has previously mentioned that the goal is to eventually double the Newport Beach, Calif.-based brand’s footprint in North America from just over 3,800 restaurants to 7,000. When it comes to growth overseas, particularly in Europe, Boatwright admits past missteps and said that moving forward, future growth will focus on London and Germany, with Paris in the long term.

Home & Road

Joann’s future a mystery as Michaels snaps up IP, private labels

Michaels has acquired Joann’s intellectual property and private labels as its own customers’ interest in sewing grows, the company said.  The spokesperson declined to disclose the purchase price and didn’t address questions about how it might use Joann’s logo or other trademarks, except to say it will be developing Joann private brands Big Twist Value Plus, Big Twist Twinkle, Big Twist Posh and Big Twist Baby Bear.  Joann’s assets were sold in February, with plans to wind down, about a month after the retailer filed for bankruptcy for the second time in less than a year. Store liquidation sales are ongoing.

Popular home retailer prepares to file Chapter 11 bankruptcy

At Home, a home-goods retailer owned by private equity firm Hellman & Friedman, is preparing to file Chapter 11 bankruptcy, according to a new Bloomberg report sourcing people with knowledge of the matter. Separate sources also said the company did not make its interest payment on May 15, leading it to enter a forbearance pact with lenders on May 23. The reprieve runs through June 30, added the sources, who asked not to be publicly identified. At Home currently has $17.3 million available under its asset-based facility, according to the sources. At Home is “actively collaborating with our financial stakeholders and have put forbearance agreements in place with respect to certain interest payments under the company’s debt instruments,” a spokesperson for the company said in an emailed statement.

Jewelry & Luxury

Camille Zarsky’s The Seven Merges With Trove To Expand Platform

Camille Zarsky’s celebrated New York City jewelry and accessories store The Seven will close later this year as she transitions into a new role with Trove that may lead to future retail opportunities. In a statement provided to JCK, Trove called its purchase of The Seven as an acquisition and part of the New York City’s company’s “strategic expansion plans.” The statement also confirmed Trove will close The Seven’s well-known Bleecker Street store in July. Trove majority investor Jen Rubio said she is leading Trove’s strategic vision now as its founder, Hannah Ward, “stepped away” from Trove’s day-to-day operations in January. “We’re excited to be merging The Seven and Trove into a single, unified experience for our clients,” Rubio told JCK. “With the two locations only a few blocks apart, it makes sense to focus our energy and resources on one flagship destination—especially as we begin to blend our teams and our vision for fine jewelry.”

Signet Jewelers Sees Turnaround in Q1 With Sales Ticking Up 2%

After struggling for several quarters, Signet Jewelers Ltd. saw sales grow in its first quarter as the company proceeds with its turnaround plan. For the quarter ended May 3, Signet’s sales totaled $1.54 billion, up 2 percent year-over-year. Same-store sales climbed 3 percent. The results exceeded the company’s expectations of sales between $1.5 billion to $1.53 billion and same-store sales flat to up 2 percent. The company’s three largest brands—Kay, Zales, and Jared—saw sequential comp sales improvement from the fourth quarter on higher margins, he added, noting the result highlights the company’s “outsized focus” on its larger brands.

Office & Leisure

Vertiqal Studios Finalizes Offbeat Acquisition

Vertiqal Studios Corp. the digital media company behind one of the world’s largest networks of Gen Z and Millennial-facing social channels, announced the completion of the final payment related to its acquisition of digital media assets from Offbeat Media Group.  The Offbeat acquisition has expanded Vertiqal’s digital footprint and proven highly accretive, accelerating the Company’s leadership in short-form video, creator-driven programming, and AI-enabled content production across TikTok, Instagram, and especially Snapchat Discover, providing innovative and effective solutions for brands looking to reach the unreachable young audiences. Since joining Vertiqal’s portfolio, Offbeat’s assets have experienced significant growth in both reach and monetization, bolstered by the Company’s robust operational infrastructure and data-driven optimization.

Technology & Internet

Tesla stock tanks 14% as Musk-Trump spat escalates

Shares of Tesla fell 14% on Thursday as President Donald Trump threatened to pull government contracts for CEO Elon Musk’s companies, escalating a war of words over the spending bill. The move dropped the EV maker $152 billion in value, the biggest hit to its market cap ever, putting it below the $1 trillion benchmark and settling Thursday at $916 billion. “Elon was ‘wearing thin,’ I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!” Trump wrote on Truth Social. Trump spoke from the Oval Office earlier Thursday and said Musk was upset that EV credits were not included in the bill. Tesla is facing more fundamental problems, with plummeting sales of its electric vehicles in major markets in Europe and a declining brand reputation in the West.

Finance & Economy

Fed ‘Beige Book’ economic report cites declining growth, rising prices and slow hiring

The U.S. economy has contracted from April 2025 to June 2025 as hiring has slowed and consumers and businesses worried about tariff-related price increases, the Fed reported. On inflation, the report described prices as rising “at a moderate pace” and “widespread reports of contacts expecting costs and prices to rise at a faster rate going forward.” Regionally, Boston, New York and Philadelphia all reported declining economic activity. Richmond, Atlanta and Chicago were among the districts reporting better growth.

ECB to cut rates again as the case builds for a summer pause

The European Central Bank is almost certain to cut interest rates again and keep all options on the table for subsequent meetings, even as the case grows for a pause in its year-long easing cycle. As of June 2025, the ECB has cut rates seven times in 13 months as inflation eased from post-pandemic highs, seeking to prop up a euro zone economy that was struggling even before erratic U.S. economic and trade policy dealt it yet another blow. Investors are already pricing in a pause in July 2025, and some conservative policymakers have advocated a break to give the ECB a chance to reassess how exceptional uncertainty and policy upheaval both at home and abroad will shift the outlook.

Fed’s Harker says its time for caution on monetary policy amid uncertainty

In his final speech as a central banker, Philadelphia Federal Reserve President Patrick Harker said on June 5th the economic outlook is too unsettled right now to say what’s next for monetary policy. Harker, who has held office since 2015 and is scheduled to retire at the end of this month, said big changes in policy in Washington make it very hard to know what’s next. “We do not yet have a clear picture of the ultimate impact on inflation and employment of the changing economic policies and priorities in Washington,” he said. With all the uncertainty in play, Harker said “we have to wait and see” how the economy performs before a decision can be made on changing monetary policy. “The data I am receiving – both hard data and soft data – could allow me to present multiple outlooks, and “only time can provide the necessary clarity,” he noted. The Fed is expected to hold its benchmark interest rate steady in the 4.25%-4.50% range at its next policy meeting on June 17-18.