Story of the Week
Procter & Gamble will acquire supplements brand Thorne for $3.8 billion
Procter & Gamble is buying supplement brand Thorne for $3.8 billion, CEO Shailesh Jejurikar said on August 4th. The acquisition is a bid for P&G to grow its health and wellness division. The consumer goods giant already owns several other supplements brands, like Metamucil, Align Probiotic and New Chapter vitamins, which are housed within a broader healthcare division that includes Oral-B and Vicks. Thorne was founded in 1984 and went public in late 2021 at a valuation of $525 million. L Catterton then took the company private in 2023 in a deal valued at $680 million. Its annual revenue surpassed $500 million in 2025, according to Thorne.
Apparel & Footwear
Canada Goose boots Baffin in deal selling footwear brand to Royer
Canada Goose Holdings Inc. says it has sold footwear brand Baffin Ltd. to a manufacturer of work and military footwear. Canada Goose did not release the value or terms of the deal it signed with L.P. Royer Inc., but says it sold Baffin to simplify its operating model and focus resources on opportunities most likely to drive long-term profitable growth. The Sherbrooke, Que.-based purchaser says it will continue to operate its own brand and Baffin as two separate businesses under the Royer Group umbrella.
Spencer Spirit Holdings, Inc. to Acquire Hot Topic, Inc. to Combine Six Iconic Merchandise Concepts
Spencer Spirit Holdings, Inc. announced that it has signed a definitive agreement with Sycamore Partners to acquire Hot Topic, Inc. and its portfolio of brands: Hot Topic, BoxLunch, and Her Universe. The strategic transaction unites six iconic, highly complementary retail concepts under one umbrella, expanding the combined company’s total footprint to more than 3,000 stores across North America.
Digital Brands Group considers sale, merger
Apparel company Digital Brands Group is undergoing a strategic review process that may result in a sale, merger or other type of financial transaction. The parent company to brands including Sundry, Bailey 44 and Stateside, retained Roth Capital Partners as its financial adviser through the process. Digital Brands Group does not have a timeline for the review, and it may not result in a transaction, but said that the process is in order to “maximize shareholder value.” The company did not return requests for comment.
Sporting Goods & Leisure
Mammut Acquired by Chinese Investment Firm, HQ and Leadership to Remain
Swiss outdoor brand Mammut Sports Group AG announced that the company will change ownership following an acquisition agreement. Chinese investment firm CPE will take over ownership from Jacobs Capital. Although financial details of the deal were not released, Jacobs Capital was reportedly exploring the sale of the company earlier this year and seeking more than €500M. Jacobs Capital has owned Mammut since 2021, and has worked to invest in expanding the product portfolio across apparel, footwear, and hardware, as well as invested in innovation and operational processes.
ABEO Acquires Majority Stake in Hurricane Group
ABEO, a global sports and leisure equipment company, has acquired a 60% stake in Hurricane Group, a European and Chinese operator focused on urban sports. The transaction expands ABEO’s presence in the urban-sports market and is expected to support Hurricane’s growth through ABEO’s international network, while increasing the visibility of both companies’ brands. Hurricane will be consolidated into ABEO’s results beginning in August, with the acquisition financed through a combination of cash and equity.
The Farmer’s Dog Acquires Woof, Extending Its Reach Beyond the Bowl
The Farmer’s Dog, the leader in real, human-grade dog food, announced it has entered into a definitive agreement to acquire Woof, the award-winning pet company known for its functional enrichment and wellness products. Since its founding, The Farmer’s Dog has served more than one billion meals and helped redefine how Americans think about feeding their dogs—moving the category beyond heavily processed pet food toward freshly cooked, minimally processed, human-grade nutrition. The acquisition of Woof marks the company’s expansion beyond nutrition to build a broader portfolio of products that support dogs’ health, happiness, and wellbeing throughout their lives. Nutrition and enrichment are two of the few things that a dog receives every single day, and their effects compound over a lifetime.
Cosmetics & Pharmacy
Amorepacific Holdings and HIGHER Corporation announce collaboration
Amorepacific Holdings has signed a strategic investment agreement with Korean startup HIGHER Corporation, a medical aesthetics company, to strengthen collaboration across beauty and medical aesthetics. Under the agreement, key areas of collaboration will include development and commercialisation of medical aesthetics products including skin boosters, cosmeceuticals, and medical devices; development and distribution of post-treatment aftercare products through clinics and hospitals; and joint research on ingredients and materials supported by marketing initiatives.
Nykaa To Acquire Majority Stake In D2C Skincare Brand Aminu
Beauty and personal care major Nykaa’s board of directors has approved a 51% stake acquisition of D2C skincare brand Aminu. As per exchange filings, the transaction is expected to be completed by September 15. Nykaa later said that it will acquire the remaining 49% over the next few years. Founded in 2019 by Prachi Bhandari and Aman Mohunta, Aminu retails skincare products including serums, cleaners, sunscreen, masks, moisturisers and other body care products across 60 SKUs.
Beiersdorf eyes acquisitions to reduce reliance on Nivea
Beiersdorf, the German beauty giant, cut its sales guidance for the year after its plans for getting Nivea back on track were taking longer than expected. Organic sales at the German beauty giant’s consumer business division, and across the group, are now expected to decline in the low-single-digit percentage range in the full 2026 financial year. Beiersdorf CEO Vincent Warnery told investors that the German beauty conglomerate needs to increase its portfolio to be less dependent on Nivea. Any acquisition would be focused in the luxury space, rather than mass, where Beiersdorf already has the Nivea, Eucerin and Aquaphor brands.
Discounters & Department Stores
Private Equity Firm Wants to Buy 100+ JCPenney Stores
Private equity firm Onyx Partners has put in a second offer to purchase more than 100 JCPenney stores. The Boston-based company is offering Copper Property Trust $934 million for 117 properties, or around $8 million per store, across 35 states, according to a letter of intent shared with National Jeweler.
Walmart completes its acquisition of TV advertising company Vibe.co
Walmart announced that it has completed its acquisition of self-service streaming TV advertising platform Vibe.co. The acquisition, which was announced in June, brings Vibe.co into Walmart Connect, the retailer’s connected TV advertising platform. The Wall Street Journal previously reported that Walmart was paying $1.4 billion for the acquisition. Vibe.co’s platform enables small- and medium-sized brands to launch streaming TV campaigns across publishers. By combining Vibe.co’s platform with Walmart Connect, Walmart is expanding its connected TV advertising business and gaining new ways to reach customers.
Emerging Consumer Companies
Proxy Foods raises $6 million to accelerate AI-native food and beverage platform
Proxy Foods AI, the food and beverage R&D platform built to turbocharge product development with an agentic AI solution, announced a $6 million seed round led by Ted Leonsis, Founder, Chairman, Managing Partner, and CEO, Monumental Sports & Entertainment (MSE), and lead participation by Robert G. Hisaoka and SWaN & Legend Venture Partners (Anthony Nader and Fredrick Schaufeld). The funding will accelerate the transformation of food and beverage development with stronger capabilities supporting food science, regulatory and commercialization activities, as well as expansion of the company’s enterprise customer base globally.
Accell Group, owner of bike brands including Raleigh, files for insolvency
Nearly six months after securing new investors with the goal of restructuring and reducing debt, Accell Group announced that it has started insolvency proceedings. In February, Accell and U.S.-based investment firm KKR announced that Accell secured a new investment, that its major lenders were part of its new ownership group, and that the lenders had agreed to a plan they said would reduce Accell’s debt and place it on more stable financial footing. KKR, which led a group that paid $1.77 billion for Accell in 2022, retained no equity in the company after the February transaction. Since then, according to Accell, its advisors have “explored every possible avenue for the group’s future, including discussions with several interested parties, the consideration of multiple offers, and seeking regulatory approval for a potential merger.” Accell is the owner of the bike and e-bike brands Raleigh, Haibike, Winora, Ghost, Batavus, Koga, Lapierre, Sparta, Babboe, and Carqon, and the P&A brand XLC.
Food & Beverage
US cheese major Sargento buys dips-to-quiche firm La Terra Fina
US cheese maker Sargento Foods has struck a deal to acquire local dips and quiche producer La Terra Fina. The financial terms of the transaction were not revealed. In a statement, family-owned Sargento said the acquisition will help it enter deli sections at grocery chains across the US. La Terra Fina, established in 1983, is headquartered in Union City, California. The company runs a manufacturing plant near San Francisco and has around 250 employees. La Terra Fina’s products are distributed through club stores and supermarkets in the US, Canada and Mexico.
Orkla Buys Vegan Candy Maker CCI in €207M Bid to End Bubs Shortages
Orkla Snacks has agreed to acquire The European Candy Group B.V. (CCI), a Dutch producer of vegan sugar confectionery, in a deal valuing the business at €207 million on a cash- and debt-free basis. The purchase gives Orkla the manufacturing capacity behind one of its fastest-growing products: the vegan gummy brand Bubs. CCI has produced selected Bubs items under contract since 2025, and full ownership secures that supply. Orkla Snacks intends to keep CCI’s existing business running while raising Bubs output for export markets where demand has outpaced what the brand could ship.
Scandi Standard buys Glenhaven Foods for €127m
Scandi Standard has agreed to acquire Glenhaven Foods for an enterprise value of €127m, expanding its position in frozen breaded and ready to eat poultry across Ireland and the UK. Founded in 1986 and based in Arklow, County Wicklow, Glenhaven supplies major retail, foodservice, and quick service restaurant customers in both markets. The business employs approximately 190 people and has invested in its factory to create additional production capacity.
Grocery & Restaurants
McDonald’s Says its U.S. Business Is Falling Short as it Announces New Head of its Largest Market
McDonald’s on Tuesday reported mixed quarterly results as the chain’s U.S. performance fell short of executives’ expectations. “We don’t have a strategy problem,” CEO Chris Kempczinski said on the company’s earnings conference call. “We simply didn’t execute at the level we needed to in the second quarter.” The company also announced that Skye Anderson is assuming the role of president of its U.S. business, effective Tuesday, as it tries to boost performance in its home market. She succeeds Joe Erlinger, who led the division for more than six years. Anderson, a 26-year McDonald’s veteran, previously served as chief operating officer of McDonald’s USA and led its Global Business Services unit before that. “While our playbook is working around the world, we see an opportunity to raise the bar in the U.S. and accelerate performance in our largest market,” Kempczinski said in a statement.
Bain Capital is buying Gong Cha
Bain Capital is acquiring the fast-growing tea brand Gong Cha from TA Associates. Gong Cha is one of the biggest bubble tea chains in the U.S. The company has 2,200 locations globally, including 289 locations in the U.S. and Canada. “Gong Cha has built a distinctive and globally recognized brand with a loyal customer base and franchisee economics that are among the strongest in the sector,” Naofumi Nishi, a partner with Bain, said in a statement. Bain believes that Gong Cha has plenty of room to grow in crucial markets, particularly the Americas and across Asia Pacific. The acquisition, which is expected to close toward the end of this year, gives Bain a growing beverage chain at a time when consumers are drinking more of them.
Home & Road
Kirkland’s biz gives Bed Bath & Beyond Inc. a 28% revenue boost
The combination of Bed Bath & Beyond Inc.’s e-commerce sales and The Brand House Collective‘s omnichannel revenues generated a significant jump in top-line results during the second quarter. The company – whose retail operations include Bedbathandbeyond.com, Overstock and Buy Buy Baby – closed on the acquisition of The Brand House Collective (formerly Kirkland’s) on April 2 at the beginning of the second quarter ended June 30. Net revenue rose 28% to $361 million through incremental growth from BBB Inc.’s existing e-commerce businesses and the addition of the Kirkland’s retail businesses. Revenues from the company’s acquisition of The Container Store, Elfa, and Closet Works, which closed on July 8, were not included in the Q2 revenue tally. The growth marked BBB Inc.’s second consecutive quarter of year-over-year revenue growth following nineteen quarters of decline.
SharkNinja Reports Strong Q2 Across Appliance Business Groups
SharkNinja beat Wall Street second-quarter estimates as the company’s Cooking and Beverage Appliances and Beauty and Home Environment operations posted particularly strong sales gains. Net income was $129.8 million, or 92 cents per diluted share, compared to $139.6 million, or 98 cents per diluted share, in the year-previous quarter, the company reported. Adjusted for one-time events, net income was $178.2 million, or $1.26 per diluted share, versus $137.8 million, or 97 cents per diluted share, in the year-before period. A Zacks Investment Research analyst consensus estimate called for earnings per adjusted diluted share of $1.10 on revenues of $1.64 billion. Net sales increased to $1.77 billion from $1.44 billion in the year-earlier quarter. Operating income was $179.4 million versus $168.6 million in the year-prior period, the company pointed out, while adjusted operating income was $231.5 million versus $193.5 million.
Wayfair Credits Solid Q2 to Gains in Specialty Banners, Physical Stores
Wayfair came out just ahead of Wall Street estimates in a second quarter that got a boost from an increase in orders. Niraj Shah, Wayfair CEO, co-founder and co-chairman, touched on specialty retail brand development in the company’s second-quarter conference call, focusing on the upscale Perigold banner, as well as the growth of its growing lineup of namesake Wayfair superstores. Net loss was $1 million, or one cent per diluted share, versus net income of $15 million or 11 cents per diluted share, in the year-prior quarter. Adjusted for one-time charges, net income was $139 million, or 95 cents per diluted share, versus $134 million, or 87 cents per diluted share, in the year-earlier period, the company reported. An analyst consensus estimate from Zacks Investment Research called for earnings per adjusted diluted share of 94 cents and revenues of $3.47 billion. Net revenues were $3.52 billion versus $3.27 billion in the year-previous quarter, Wayfair indicated. Income from operations was $104 million versus $17 million in the year-before period.
Havertys posts 4th consecutive quarter of gains
Top 100 retailer Havertys posted its fourth consecutive quarter of written, delivered and same store sales growth in the second quarter of fiscal year 2026. For the three months ended June 30, the Atlanta-based retailer posted net sales of $194.9 million, which represented a 7.7% increase compared with $181 million over the same period a year ago. Net income for the quarter totaled $5.3 million, or 32 cents per diluted share, a jump of 97.3% vs. net income of $2.7 million, or 16 cents per diluted share in the second quarter of 2025. “Our second quarter results reflect the sustained momentum in our business, marked by a fourth consecutive quarter of written, delivered and comp-store sales growth,” said Steve Burdette, president and CEO. “We posted a strong Memorial Day weekend performance, with average tickets up double-digits. Gross margins expanded to 61.4%, which included the benefit of approximately $1.5 million in IEEPA tariff refunds.”
The name game: Bed Bath & Beyond Inc. readies a corporate rebrand
The company that has been operating for nearly a year as Bed Bath & Beyond Inc. will soon assume its fourth corporate identity over a two-year period: from Overstock Inc. to Beyond Inc. to Bed Bath & Beyond Inc., and now, to an entity that points toward its broad long-term strategy. On Aug. 17, the corporation – a conglomerate omnichannel retail and e-commerce platforms, home services, and digital/financial/blockchain services – will become Neighborhood Intelligence. As part of the transition, the company will migrate from the New York Stock Exchange and begin listing on Nasdaq under the ticker NXH. It is also relocating its corporate headquarters from the Salt Lake City area – home to the original Overstock Inc. business – to Nashville, Tenn., home of The Brand House Collective (formerly Kirkland’s Home).
Jewelry & Luxury
Secondary Watch Market Surges As Independents Outpace Luxury Giants
The global secondary watch market recorded $10.5 billion in transactions during the first half of 2026, a 37.2% increase from the same period a year earlier, according to a report published July 30 by the market data and pricing platform EveryWatch. Based on data from 650 dealers and nearly 500 auction houses, EveryWatch’s secondary market report for the first half of 2026 found that transaction value grew faster than unit volume as collectors gravitated toward higher-priced watches and premium brands. While major luxury watch manufacturers continued to post substantial gains, independent watchmakers emerged as the market’s fastest-growing segment. EveryWatch’s data showed that independent brands collectively generated $633.8 million in secondary-market sales during the first six months of the year, up 89% from a year earlier.
Brilliant Earth Raises Profit Outlook After Margins Rebound
Exceeding its own forecast, Brilliant Earth Group reported second-quarter net sales of $115.1 million, up 5.7% year over year. The company spent its first quarter absorbing a cost shock. Gross margin came back to 57.9% in the second, a 3.6-point recovery from Q1’s 54.3%, according to data released by the company Thursday and compared with earlier this year. Brilliant Earth raised its profit outlook. In May, it told investors 2026 earnings would land slightly below 2025. Now it expects $13 million to $15 million in adjusted EBITDA—profit before interest, taxes, and one-time items—against $12 million last year. “Given our strong second-quarter performance and confidence in the second half of the year, we are raising our annual profitability guidance,” said chief financial officer Jeff Kuo in a news release.
LVMH exits Patou, selling the house back to its former owner
LVMH has sold its stake in French fashion house Patou to businessman Dilesh Mehta, who has repurchased 100% of the company’s shares. Mehta held an interest in the house before LVMH acquired its stake in 2018, meaning the sale effectively returns Patou to its previous ownership structure. The move follows LVMH’s sale of Marc Jacobs last year, another instance of the group trimming smaller fashion labels from its stable. The exit suggests LVMH is continuing to concentrate resources on its largest, most reliably profitable brands rather than nursing smaller, slower-growing labels through a difficult luxury market.
Technology & Internet
Whatnot valued at $20 billion as live shopping continues to boom
Building on the growing popularity of livestreamed shopping, startup market Whatnot said on Friday that it has closed its latest round of funding at a $20 billion valuation, nearly doubling its valuation from less than a year ago. Whatnot, which said that it has more than 650,000 new people joining its platform each week, said in a release that it had already passed the $8 billion in gross merchandise volume it saw last year. Buyers have also more than doubled over the past year. With the funding from this latest round, a $545 million Series G led by Iconiq, Lightspeed and Avra, the company plans to invest in ways for sellers to grow on the platform, according to Grant LaFontaine, co-founder and CEO of Whatnot. “This investment allows us to build better tools, bring AI to more parts of the selling experience, help sellers reach more buyers, expand into new markets, and continue building the world’s biggest and most trusted marketplace,” LaFontaine said in the statement.
Shopify shares soar as forecast shows AI is boosting business, not disrupting
Shopify issued a rosy third-quarter forecast on Wednesday as the company’s AI efforts draw more merchants to its suite of e-commerce services, assuaging fears over growing competition and sending its shares up more than 18%. The strong outlook and a market-beating June quarter show that AI is shaping up to be a major growth driver for Shopify, and no longer the threat it was once expected to be, with chatbots such as ChatGPT and Claude increasingly becoming better at handling routine tasks for businesses. Through its partnerships with OpenAI, Google and Microsoft, Shopify has been able to boost demand by helping retailers on its platform reach more customers through AI chatbots or search queries.
EBay forecasts upbeat quarterly revenue as high-value categories drive momentum
EBay forecast third-quarter revenue above Wall Street estimates on Wednesday, leaning on its push into authenticated luxury goods, collectibles and refurbished products to bring more high-value buyers to its online marketplace. The results are the first since the company rebuffed GameStop’s about $56 billion unsolicited bid as “neither credible nor attractive”. GameStop CEO Ryan Cohen has, however, said he plans to continue pursuing a combination. EBay has doubled down on its “focus categories”, targeting enthusiast buyers who value selection and specialist services, a strategy that sets it apart from rivals. The $1.4 billion acquisition of fashion resale platform Depop is also providing a lift, expanding the company’s reach among younger consumers and strengthening its position in the growing re-commerce market. “Focus categories, consumer-to-consumer and re-commerce, each grew 20% on the platform individually and collectively, representing 70% of gross merchandise volume,” CEO Jamie Iannone said. The company forecast third-quarter revenue to be between $3.07 billion and $3.12 billion, compared with analysts’ estimate of $2.97 billion.
Finance & Economy
Manufacturing survey shows inflation worries ‘worse than pandemic era,’ adding to Fed pressure
A burst in factory activity shows the U.S. economy may be escaping the burden of tariffs and gaining manufacturing jobs, while at the same time laboring under the geopolitical uncertainty that some industry leaders say is worse than the Covid pandemic. In its July survey of the manufacturing landscape, the Institute for Supply Manufacturing reported the fastest pace of growth in more than four years — a 55.6 reading that was the best since May 2022 and above Wall Street expectations for 54.0. The index measures the percentage of companies reporting growth, so anything above 50 represents expansion.
The US economy unexpectedly lost 23,000 jobs last month
A summer hiring slump dogged the US labor market in July as the economy unexpectedly lost 23,000 jobs, according to new data released by the Bureau of Labor Statistics. The unemployment rate dropped to 4.1% from 4.2% as more people left the labor force. July’s job gains marked a sharp slowdown from June’s total, which was downwardly revised to 20,000 from 57,000. Following revisions, May’s employment gains were essentially halved, dropping to 66,000 from 129,000. The July report fell far short of economists’ expectations for a 95,000-job gain.
Oil Prices Jump After Iran Publishes Restrictive Draft Plan for Strait of Hormuz
Oil prices rose after Iranian state media published a draft plan that could impose new restrictions on commercial shipping through the Strait of Hormuz, a key transit route for global energy supplies. The proposal would bar U.S. and Israeli vessels from using the strait and restrict ships from other countries deemed hostile until compensation is paid, with violators potentially facing penalties equal to 20% of their cargo value. Brent crude rose 3.8% to close at $82.49 per barrel, while West Texas Intermediate gained 2.8% to settle at $77.29, reversing part of an approximately 8% weekly decline. The plan remains under review by an Iranian parliamentary committee, while Iran and Oman continue discussions over potential transit routes and the reopening of commercial shipping.
