Apparel & Footwear

Ralph Lauren net income surges 30%

Ralph Lauren has consistently bucked the luxury sector slowdown with revenue growth while other firms have experienced significant declines. Performance results from Thursday, August 14, continued that trend. “While we continue to approach the current global operating environment with prudence, we are encouraged by the broad-based strength in our brand and our businesses as we execute on our long-term strategic priorities — including recruiting new and younger consumers, strengthening our core and high-potential categories, and developing our key city ecosystems in each region,” President and CEO Patrice Louvet said in the release.

Poshmark co-founder steps away from CEO role

Poshmark CEO Manish Chandra, who co-founded the fashion resale marketplace in 2011, is exiting as chief executive and will hold a strategic role on the board of directors, the company announced. Poshmark named Namsun Kim, currently the executive chairman of its board, as its new CEO as of Oct. 1. Kim currently serves as the president of investments at Naver, Poshmark’s parent company. He previously served as Naver’s chief financial officer.

Skechers releases Q2 revenue results ahead of planned go-private deal

Skechers reported unaudited second-quarter sales of $2.44 billion, according to a recent earnings release, marking a 13.1% year-over-year increase as the footwear company plans to go private. The company’s wholesale segment grew 15% for the quarter to $1.3 billion, while its DTC channel grew 11% to $1.1 billion. By region, Skechers saw the biggest increase in Europe, the Middle East, and Africa, with sales growing 48.5%. Sales in the Asia Pacific region grew 5.5%, while China sales decreased 8.2%. Sales in the Americas increased 1.1%.

Wholesale, back to school propel Birkenstock in Q3

Neither tariffs nor currency headwinds did much to dent Birkenstock’s performance in Q3. Speaking to analysts on August 14, executives called the current 15% baseline levy on European imports to the U.S. “manageable,” noting that they started the year with tariffs at 11% and spent some time with them at over 20%. In its release, the company reiterated its expectations for the full year: revenue growth at the high end of 15% to 17% in constant currency and adjusted EBITDA margin of 31.3% to 31.8%, “despite the strong depreciation of the US Dollar.” To offset the impact of the U.S. levies, the company has raised prices in the U.S., negotiated with vendors, increased manufacturing efficiency, and optimized its product mix, executives said.

Athletic & Sporting Goods

Giant Ideas Acquires Mayweather Boxing + Fitness, KickHouse

Giant Ideas, LLC is stepping into the ring with a heavyweight move, acquiring Mayweather Boxing + Fitness, co-founded by Floyd Mayweather and KickHouse and folding them into its Legends Boxing portfolio to create what it calls the largest skill-based fitness network in the industry.  With the deal, the Utah-based company now oversees more than 70 studios across domestic and international markets, but, according to Giant Ideas CEO Rob Scott, it’s steering clear of the breakneck expansion strategies that have fueled (and sometimes sunk) other franchise systems, instead focusing on “operational excellence and franchisee success over new unit sales.”  The trend points to a shift toward multi-brand platforms, a play Giant Ideas is now making with its newly combined boxing and kickboxing portfolio.

Dick’s Sporting Goods Launches Entertainment Studio

Dick’s Sporting Goods is launching its own in-house entertainment studio to get closer to sports fans with original unscripted series to fuel their own athletic passions.  Cookie Jar & A Dream Studios, a new content and production studio to lean into unscripted sports themed series, follows the retailer using Hollywood production partners and filmmakers to tell stories through the lens of sport, starting in 2014.  Over the last decade, Dick’s Sporting Goods has produced five feature-length movies and ten short or episodic documentaries. The first feature doc was We Could Be King, which earned an Emmy Award for outstanding sports documentary.

Cosmetics & Pharmacy

Kenvue Posts Q2 2025 Sales Decline, Revises Full-Year Outlook Amid Strategic Review

Kenvue reported a 4.0% year-on-year drop in net sales for Q2 2025, lowered its full-year guidance, and continues its review of strategic alternatives under a newly appointed interim CEO and leadership team. For the quarter ended June 29, 2025, net sales fell 4.0% to reflect a 4.2% decline in organic sales, driven by softer category growth, weak seasonal demand in North America, inventory fluctuations, and shipment timing shifts in China. Adjusted gross profit margin slipped to 60.9% from 61.6%, while adjusted operating income margin was broadly flat at 22.7%. Adjusted diluted EPS was $0.29, down from $0.32 in the prior-year period. The company now expects full-year 2025 net and organic sales to decline in the low single digits, adjusted operating income margin to contract, and adjusted EPS to fall between US$1.00 and US$1.05.

Ulta and Target will end deal for in-store beauty shops next year

Ulta Beauty and Target said on August 8th that they have decided to end a deal that opened makeup and beauty shops in hundreds of Target’s stores. Shares of Target fell about 2% in early trading, while Ulta’s stock slid about 1%. In a news release, the companies said the partnership — which also added some of Ulta’s merchandise to Target’s website — will end in August 2026. Target had added more than 600 Ulta Beauty shops to its stores, according to a company spokesperson. That’s nearly a third of Target’s 1,981 U.S. stores. Ulta Beauty at Target shops carried a smaller and rotating assortment of the merchandise at the beauty retailer’s own stores. They were staffed by Target’s employees.

Renee Cosmetics Secures US$30 Million Funding to Accelerate Expansion and Technology Investment

India-based Renee Cosmetics has raised US$30 million in a new funding round, valuing the company at US$200 million. The round was led by Playbook, with secondary participation from Midas, comprising both primary and secondary investments. The Mumbai-headquartered brand intends to use the capital to broaden its product portfolio, strengthen its omnichannel footprint across Tier 1 and Tier 2 cities, and advance technology and brand-building efforts. Renee Cosmetics, which has achieved an annual revenue run rate of approximately Rs 500 crore, targets doubling this to Rs 1,000 crore within two years. The company’s growth strategy includes optimizing customer acquisition costs and improving conversion rates across direct-to-consumer and marketplace channels.

Discounters & Department Stores

Walmart expands 10% grocery discount for its workers

Walmart is expanding a 10% worker discount on groceries to be available year-round instead of solely during the holiday season, Kieran Shanahan, executive vice president and chief operating officer at Walmart U.S., said in a recent LinkedIn video. The discount for Walmart employees now includes all of the retailer’s food categories, including dairy, frozen, dry goods, meat, and seafood, Shanahan said. The discount previously only applied year-round to fresh produce and general merchandise, JD Mahaffey, group director and global head of executive total rewards at Walmart, wrote on LinkedIn. The expanded grocery discount comes as Walmart ramps up worker benefits as tariffs threaten to drive up prices at the company’s stores and elsewhere.

Dollar General taps Uber Eats to expand delivery

Dollar General is partnering with Uber Eats to offer the delivery service to its customers through 14,000 Dollar General and Popshelf stores, according to a company news release. The partnership kicked off on Aug 8th and is expanding throughout the month. Customers can use the Uber Eats app to order food, beverages, and other essentials like personal care products, over-the-counter medications, paper products, cleaning supplies, lawn and garden, back-to-school supplies, and more, per the company. Through Sept 30, Uber Eats is offering a one-time promotional discount of 40% off on Dollar General and Popshelf orders of $20 or more, with a maximum discount of $10. Uber One members get free delivery on eligible orders and other savings. 

Emerging Consumer Companies

TeamLinkt raises $8.3 million CAD to scale youth sports platform

Saskatchewan-based TeamLinkt raised $8.3 million CAD in a Series A round from San Francisco’s Growth Street Partners. The platform serves 3,000+ sports organizations and 3 million users with free software model. Revenue is generated through payment processing fees and advertising, not subscription charges. The company plans team expansion from 17 to 50+ employees over next three to five years. The round brings the company’s total funding to $9.7 million CAD.

Personal finance app Coverd raises $7.8 million

New York-based start-up Coverd has raised $7.8 million in seed funding. Yolo Investments led the round with participation from Arbitrum Gaming Catalyst, a16z GAMES, Volt Capital, WndrCo, Gaingels and Tusk Venture Partners, among others. Founded last year, Coverd operates a platform that gamifies personal finance by enabling users to stake modest sums for opportunities to win various rewards ranging from credit card payments to travel experiences. Currently available via the firm’s mobile app and website, the company plans to launch the Coverd credit card in Q1 2026 with integrated gaming features.

Ticketing and fan experience platform Jump raises $23 million

Jump, a ticketing and fan experience platform founded in 2021 by entrepreneurs Marc Lore, Jordy Leiser and former baseball player Alex Rodriguez, has raised $23 million in a Series A funding round. The round was led by Alex Ohanian’s venture firm Seven Seven Six, along with previous investors Courtside Ventures, Will Ventures, Forerunner Ventures, and Drive by DraftKings. Earlier this year, North Carolina Football Club signed a deal with Jump to power its primary and secondary ticketing, group and suite sales, and branded team mobile apps across the United Soccer League’s North Carolina FC and NWSL’s North Carolina Courage.

Food & Beverage

Mars to release Skittles and M&M’s without artificial dyes

Mars said it will begin offering Skittles, Starbursts, and other iconic candies with natural coloring next year, though the company stopped short of committing to converting its entire portfolio away from artificial dyes. The candymaker said it will release natural dye options for four products across its biggest brands: M&M’s Chocolate, Skittles Original, Extra Gum Spearmint, and Starburst Original fruit chews. Mars added it will share details and timelines for converting more of its portfolio away from artificial colors “when we have identified fully effective, scalable solutions.”

Daring Foods acquired by one of Australia’s biggest plant-based meat producers

V2food, one of Australia’s biggest plant-based meat makers, has acquired vegan chicken producer Daring Foods for an undisclosed amount as it eyes an expansion into the U.S. market. The acquisition was announced alongside a partnership with Japan-based ingredients giant Ajinomoto Co., whose global network will allow v2food to expand into Africa and emerging markets in Asia. Daring will continue to operate under its own brand in the U.S., according to a statement. The transaction gives v2food a platform to launch other products under its own banner.

WK Kellogg faces sharp decline in Q2 earnings as acquisition looms

WK Kellogg Co reported a significant drop in earnings and sales for the second quarter of fiscal 2025, amid its planned $3.1 billion acquisition by Ferrero Group. The company’s net income fell by 78% to $8 million, or 9¢ per share, compared to $37 million, or 42¢ per share, for the same period last year. The decline was attributed to lower net sales, supply chain disruptions, and costs related to business restructuring and the spin-off from its former parent company, Kellogg Co. Second-quarter net sales dropped by 8.8%, totaling $613 million, and organic sales also decreased by the same percentage. The company’s adjusted EBITDA fell 31% to $57 million, reflecting an adjusted margin decline to 9.4%.

Grocery & Restaurants

Cava, Chipotle, Sweetgreen report soft sales, finally show signs of consumer slowdown

Cava stock tumbled 16% in afternoon trading on Wednesday, making it the latest fast-casual chain to feel Wall Street’s wrath after reporting disappointing quarterly sales. A year ago, eateries like Chipotle Mexican Grill and Cava were reporting double-digit same-store sales growth, even as the broader restaurant industry posted falling traffic and slumping sales. But times have changed. This spring, fast-casual chains saw foot traffic decline as sales slowed down or even shrank. To explain the downturn, executives have said that diners are “cautious,” in the words of Sweetgreen CEO Jonathan Neman, or dealing with an economic “fog,” according to Cava CFO Tricia Tolivar. And just as diners are finding reasons why to cut back on their Shake Shack burgers or Chipotle bowls, investors are trimming their fast-casual holdings after rewarding the companies last year for outperforming the rest of the industry.

Craveworthy Brands becomes managing partner of Gregorys Coffee

Craveworthy Brands is now investor and managing partner of Gregorys Coffee, a New York City-based coffee chain with dreams of a nationwide footprint. Craveworthy Brands, a fast-growing restaurant holding company, has become a prolific investor since its founding in 2022. Its portfolio includes legacy chains such as Genghis Grill and BD’s Mongolian Grill, emerging concepts including Shaquille O’Neal’s Big Chicken as well as several virtual brands that only offer delivery. Gregorys was founded in 2006. The regional coffee chain is often counted as part of the third-wave coffee trend that focused on quality beans and artisanal craft, along with peers Blue Bottle Coffee and Intelligentsia Coffee. Today, Gregorys has more than 50 locations, but the deal with Craveworthy Brands is meant to help franchise Gregorys and expand beyond its tristate stronghold.

Home & Road

Amazon gobbles up bigger share of Top 25 pie, gives boost to DTC segment

According to Furniture Today/Strategic Insights’s 2024 report, online retailing giant Amazon widened the gap between itself and the other companies in the Top 25 Retailers, broadening its share to 24% and giving the direct-to-consumer (DTC) sector more than one-third of the $91.3 billion total. Amazon was one of just five companies that experienced an increase in furniture, bedding and accessories (FBA) sales in 2024. Walmart, which includes sales from its Sam’s Club warehouse division; manufacturer-branded retailer Ashley; TJX Cos., which encompasses T.J. Maxx, Marshalls, HomeGoods and Homesense stores; and warehouse club Costco, all experienced growth in the FBA segment. These five companies also represented five of top six retailers for 2024, with only No. 2 Wayfair seeing a slight drop in its sales.

Spring Air sets 20-year agreement with Australian mattress maker

Spring Air International has inked a new 20-year licensing agreement with a former partner in Australia. Sleepeezee Bedding, a mattress maker and importer founded in Melbourne in 1956, was a prior Spring Air licensee in the mid-90s until 2007. Part of the Mantzis Group, which is owned by the Mantzis family, Sleepeezee employs more than 160 people in factories located in Sydney, Brisbane, Perth and Melbourne. “We felt the time was right to realign because we have very similar companies from a DNA point of view,” said Bill Mantzis, managing director of Sleepeezee. “I’ve kept in touch from afar over the years, and I have been very impressed with how Spring Air has grown into a globally recognized brand under Nick Bates’ (Spring Air president and CEO) leadership.” Sleepeezee will incorporate all of Spring Air’s line, including Back Supporter to Chattam & Wells, into its lineup.

Jewelry & Luxury

Gemfields Sells Fabergé to SMG Capital for $50 Million

Gemfields is parting ways with one of the most storied names in jewelry. The gemstone miner has agreed to sell its entire interest in Fabergé Ltd. to SMG Capital, a U.S. investment firm owned by London-based tech entrepreneur and venture capitalist Sergei Mosunov, for $50 million. Gemfields bought Fabergé in 2012. The agreement with SMG calls for $45 million in cash upon closing—expected Aug. 28—and an additional $5 million in royalties over time, calculated at 8% of Fabergé’s revenue. No regulatory or shareholder approvals are required, making the handover swift by luxury M&A standards. Fabergé, founded in 1842 and famed for its imperial eggs, currently sells high jewelry, timepieces, and objets d’art through a mix of boutiques, e-commerce, and wholesale partners. For Gemfields, Fabergé provided a marketing vehicle for the colored gemstones it mines in Africa.

U.S. shoppers fuel jewelry splurge despite tariff headwinds

U.S. shoppers are continuing to splurge on jewelry, even as economic headwinds weigh on consumer sentiment in Europe and China. Danish jewelry brand Pandora said the U.S. market, which accounts for one-third of its overall revenues, remained an outlier amid weaker global sales. “The U.S. continues to buck the trend,” Pandora CEO Alexander Lacik told CNBC’s “Squawk Box Europe” on Friday, August 15th. “A strong U.S. consumer continues to be interested in Pandora, and, as I said, Europe is a bit of a mixed bag,” he went on, noting the European client base had been “under pressure for quite a while.” China, which accounts for just 1% of Pandora’s total revenues, “continues to be challenging,” Lacik said, citing broader consumption difficulties in the country.

Tiffany & Co. Opens Flagship in Tokyo’s Ginza

Tiffany & Co. has opened its largest store in Asia, and with it signaled the brand’s growing focus on Japan’s high-end market. Located in Tokyo’s prestigious Ginza district, the new flagship blends contemporary luxury with Japanese artistry and craftsmanship. The store was inspired by Tiffany’s legendary New York store, the Landmark, but features Japanese design elements, including a Kanazawa rimmed gold leaf ceiling and a kabuki-inspired installation by artist Mariko Kusumoto. Tiffany Ginza, which occupies six floors in a 12-story building, has a rippling glass facade that catches the changing light along Chuo-dori street. Inside the nearly 27,000-square-foot store, artwork by Michelangelo Pistoletto greets visitors, and an immersive moving fresco by “visual composer” Oyoram plays on digital screens lining a dramatic staircase.

Trump Says Gold Won’t Be Tariffed

In a Truth Social post on August 11, President Trump announced that “Gold will not be Tariffed!” He didn’t provide any additional information. Trump’s post seemingly came in response to a July 31 letter from a U.S Customs and Border Protection (CBP) official to a Swiss refiner that stated that certain gold bars could face import tariffs—currently set at 39% for Switzerland. The CBP letter sent gold futures soaring to record highs—and sparked enough uncertainty that the administration walked it back. A White House official said that the administration will “issue an executive order in the near future clarifying misinformation about the tariffing of gold bars and other specialty products,” according to Agence France-Presse.

Office & Leisure

Kodak warns its business is in “substantial doubt” after 133 years

Kodak is warning that its future in business is looking very blurry.  The iconic 133-year-old business cautioned Monday that there’s “substantial doubt” about its ability to continue as a going concern because it might not have the financial resources to meet its future debt obligations, according to an Aug. 11 regulatory filing. A so-called going concern warning is an accounting term that signals a risk that a business might cease operations.  The warning is the latest development in the photography company’s storied history, which includes introducing one of the first consumer cameras in the 1880s and mass manufacturing film rolls for hobbyists and professionals alike. But Kodak struggled to adapt when digital cameras overtook film starting in the 1990s, leading to a bankruptcy filing in 2012.  Its current financial crunch is tied to almost $500 million in short-term debt obligations, as well as more than $200 million in pension liabilities.

Peer-to-peer betting platform Novig raises $18M Series A

Novig, a peer-to-peer sports prediction marketplace provider, raised an $18M Series A round led by Forerunner, a venture firm that also has invested in such sports tech firms as Oura and Jump. Prior backers Y Combinator, NFX, Perceptive Ventures and Gaingels all participated with follow-on investments.  The foundational idea behind Novig is that users bet against each other, eliminating a sportsbook’s usual take (called a vig, hence the name). The product launched in September 2024 with both free-to-play and true betting options for users.  The firm previously raised a $6.4M seed round in 2023 that included Pro Football HOFer Joe Montana.

Technology & Internet

Amazon launches same-day delivery of meat, eggs, produce

Amazon is rolling out same-day delivery of fresh foods to more pockets of the U.S. as it looks to encourage shoppers to add meat and eggs to their order while they’re browsing its sprawling online store. The company announced Wednesday it’s bringing the service to more than 1,000 U.S. cities and towns, including Raleigh, North Carolina, Tampa, Florida, and Milwaukee with plans to reach at least 2,300 locations by the end of this year. Amazon began testing the service in Phoenix last year and in additional cities this year, where it found shoppers frequently added strawberries, bananas, avocados and other perishables to their order. “Many of these shoppers were first-time Amazon grocery customers who now return to shop twice as often with same-day delivery service compared to those who didn’t purchase fresh food,” the company said in a release.

Finance & Economy

Wholesale prices rose 0.9% in July, much more than expected

Wholesale prices rose far more than expected in July, providing a potential sign that inflation is still a threat to the U.S. economy, a recent Bureau of Labor Statistics report showed. The producer price index, which measures final demand goods and services prices, jumped 0.9% on the month, compared with the Dow Jones estimate for a 0.2% gain. It was the biggest monthly increase since June 2022. Excluding food and energy prices, core PPI rose 0.9% against the forecast for 0.3%. Excluding food, energy, and trade services, the index was up 0.6%, the biggest gain since March 2022.

Consumer prices rose 2.7% annually in July, less than expected amid tariff worries

The consumer price index increased a seasonally adjusted 0.2% for the month and 2.7% on a 12-month basis, the Bureau of Labor Statistics reported on August 12th. Excluding food and energy, the core CPI increased 0.3% for the month and 3.1% from a year ago, compared with the forecasts for 0.3% and 3%. Following the report, traders ramped up bets that the Federal Reserve would start reducing rates again in September. Tariffs did appear to show up in several categories, but other areas that normally would be hit by import duties showed little reaction.

US to maintain lower tariff rates on China imports for 90 more days

The U.S. is extending its pause on additional retaliatory tariffs for imports from China until November 10, according to an executive order signed by President Donald Trump on August 11. The order said the extension is appropriate following “significant steps” from China on addressing U.S. trade concerns in ongoing discussions between the two countries. Since May 14, the U.S. has been charging many imports from China an extra 30% duty. That rate — a combination of 20% tariffs tied to fentanyl trafficking and a 10% baseline reciprocal tariff — came as the two countries agreed to pause duties imposed as part of a tit-for-tat tariff escalation for 90 days. The pause was originally set to expire on August 12.