Apparel & Footwear

Roots to be acquired by Marquee Brands

In a deal that will take Roots private, an emphasis is being placed on preserving the Canadian roots of the outdoor brand. The transaction is designed to preserve all that makes Roots uniquely Canadian, and the company will continue to be operated in the country. Operating partner JM&A will oversee the design, development, manufacturing and distribution of men’s and women’s apparel and take on retail and e-commerce operations across Canada and the U.S. That includes the Roots fleet of more than 100 North American stores. The retailer will join Marquee Brands’ portfolio, which includes Sur la Table, Laura Ashley, Destination Maternity, BCBG and A Pea in the Pod, among others.

L Catterton loses majority stake in Birkenstock

Birkenstock’s largest shareholder, L Catterton, has significantly reduced its stake in the sandal maker through a secondary offering. Its affiliate, BK LC Lux MidCo, sold approximately 25.52 million Birkenstock shares at $39.35 each, an offering of roughly $1 billion. Birkenstock repurchased 12.76 million of those shares, about half the package, or roughly $500 million, which will be cancelled; the company received no proceeds from the placement. With the sale, L Catterton’s holding falls below 50%, ending its majority stake.

JD Sports Trips Over the Sneaker Cycle

JD Sports cut its full-year profit guidance after weaker sales across key markets, especially North America. The company now expects profit before tax and adjusting items of £700 million to £800 million (about $955 million to $1 billion) for the year to the end of January. That’s down from its previous range of £750 million to £850 million, and below the £852 million reported for the 2025-26 financial year. Shares fell between 11% and 15% in London trading, dropping to around 80p and wiping out much of the stock’s recent recovery. The shares are now down more than 60% from their 2021 peak, when lockdown-era demand and JD’s US expansion story had investors sprinting.

Sporting Goods & Leisure

Arc’teryx and Salomon Are Growing Like Crazy, and Both Are Opening Notable New Wholesale Doors

Amer Sports announced that Arc’teryx and Salomon are expanding their wholesale partnerships following strong second-quarter growth. Arc’teryx revenue increased 32% to $674 million, while Outdoor Performance revenue, led by Salomon, rose 37% to $569 million. Arc’teryx will enter Dick’s Sporting Goods for the first time this fall, with shop-in-shop locations planned across 15 House of Sport stores, while Salomon is expanding through selected partnerships with Nordstrom, JD Sports and Foot Locker. Amer Sports reported total Q2 revenue of $1.63 billion, up 32% year over year, and raised its full-year 2026 revenue growth outlook to approximately 24% from 20%–22% previously.

Anytime Fitness Asia’s Owner said to Weigh US$400 Million Sale

Inspire Brands Asia, the regional master franchisee for Anytime Fitness, is considering selling its Asian fitness business in a transaction that could be valued at up to US$400 million, including debt. The company is reportedly working with an adviser and has begun contacting potential buyers, although discussions remain preliminary and may not result in a deal. Anytime Fitness Asia operates more than 600 clubs across Singapore, the Philippines, Hong Kong, Malaysia, Indonesia, Taiwan, Thailand, and Vietnam, including more than 150 company-owned locations. Inspire Brands Asia acquired the regional business in 2020 and is backed by franchisees, Exacta Capital Partners, and Aura Group. A sale would give investors a chance to monetize one of Asia’s largest fitness networks while highlighting continued interest in recurring-revenue wellness businesses, but the potential transaction remains uncertain and no buyer or final terms have been disclosed.

Winnebago Industries Renews and Extends $350 Million Asset-Based Revolving Credit Facility

Winnebago Industries, a North American manufacturer of outdoor recreation products, has announced the renewal and extension of its $350 million asset-based revolving credit facility. The agreement extends the facility’s maturity by four years to August 2031 and replaces the company’s previous facility, which was scheduled to mature on July 15, 2027. The refinancing maintains Winnebago’s total borrowing commitments at $350 million while reducing near-term refinancing risk and extending the company’s access to liquidity. The facility will support general corporate needs and working-capital requirements as Winnebago invests in its Winnebago, Grand Design, Chris-Craft, Newmar, and Barletta brands, along with innovation and operational capabilities.

Cosmetics & Pharmacy

Cosmetic Group USA Announces Strategic Acquisition by PharmaResearch

Cosmetic Group USA, a full-service beauty product development and contract manufacturing partner, has been acquired by PharmaResearch, a global pharmaceutical and biotechnology company focused on regenerative science, aesthetic solutions and skin care innovation. The acquisition brings together Cosmetic Group USA’s more than three decades of experience in U.S. beauty product development and manufacturing with PharmaResearch’s biotechnology, research capabilities and international resources. The companies said the combination is intended to accelerate innovation, expand manufacturing and scientific capabilities, and create new opportunities for beauty brands.

Essity buys Kenvue Brazilian feminine care business in US$284M deal

Essity has entered into an agreement to acquire Kenvue’s feminine care business in Brazil. The deal will include brands such as Carefree, Sempre Livre, and OB. The purchase price amounts to US$284 million on a cash and debt-free basis. Essity says the acquisition strengthens its position as a market leader in feminine care in Latin America. According to Essity, Brazil is one of the world’s largest hygiene markets and the fourth-largest feminine care market. Essity touts to be a fast-growing global player in feminine care. The company offers a portfolio of sanitary pads, liners, tampons, intimate soaps, intimate wipes, and leakproof apparel. It has brands such as Libresse, Bodyform, Nana, Saba, Libra, and Nosotras.

Amplifica Closes $26M Series B for Hair Growth Injectables

Amplifica Holdings Group closed an oversubscribed $26 million Series B preferred stock financing on August 12, 2026. Tasso Partners led the round, with Eli Lilly and Company, principals of Scopia Capital Management and a mix of new and existing investors joining. The San Diego company is a clinical stage biopharmaceutical business working on hair growth, and its approach is different from the topical and oral products that dominate the category. Amplifica has assembled a proprietary portfolio of signaling molecules that govern the hair follicle growth cycle, with candidates designed to wake dormant follicles and prompt new hair to grow.

Discounters & Department Stores

Target says its turnaround is picking up steam, with help from a big tariff refund

Target posted quarterly earnings that were boosted by tariff refunds and raised its full-year guidance, as the retailer shows more signs its turnaround is taking hold. The company said net sales climbed 5.3% from the year prior. Comparable sales grew 3.8%, topping Wall Street estimates of 2.4%, according to StreetAccount. Target added in its release that it saw broad-based strength across categories. Target’s fiscal second-quarter results also included a $752 million boost to net earnings, or $1.65 per share, from tariff refunds. The company said its second-quarter gross margin and operating income included a $994 million pretax benefit from that repayment.

Walmart stock tumbles 9% after outlook disappoints Wall Street

Walmart posted quarterly sales that beat Wall Street estimates and raised its outlook for the year, as it saw another strong quarter of e-commerce growth and benefited from tariff refunds. The retailer said revenue rose 5.9% in its fiscal second quarter as e-commerce sales jumped 23% globally. Walmart also said U.S. comparable sales grew 2.6%, offset in part by a 0.8% headwind in its health and wellness business as price caps on certain drugs took effect. That was less than the 3.5% increase Wall Street expected. Shares of Walmart closed about 9% lower, as Wall Street appeared disappointed by the quarterly comparable sales and the company’s sales guidance.

TJ Maxx, Marshalls ‘self-inflicted’ slowdown clouds TJX earnings beat

TJX reported a slowdown at its TJ Maxx and Marshalls discount apparel chains in the second quarter, overshadowing strong growth in its home goods business and fueling concerns about a pullback in U.S. consumer spending. While the off-price retailer is still drawing in bargain-hunting shoppers, its core apparel-focused Marmaxx division is facing headwinds ahead of the crucial back-to-school and holiday seasons. Shares of the company fell about 3 per cent in midday trading. The weaker-than-expected U.S. apparel results clouded TJX’s earnings beat. The company also raised its annual profit forecast and maintained its comparable store sales growth target of 3 per cent to 4 per cent.

ROST Stock Soars 8% After-Hours On Blowout Q2

Shares of Ross Stores surged about 8% in after-hours trading, reversing a regular-session decline, after the discount department store operator reported strong second-quarter results and raised its full-year outlook. Ross Stores said total sales rose 13% to $6.3 billion for the 13 weeks ended August 1, with comparable-store sales up a very strong 10%. Operating profits reached $1.1 billion, including about $253 million from tariff refunds. Earnings per share were $2.66, including a roughly $0.60 benefit from the refunds—well above the company’s prior guidance of $1.85 to $1.93. Customer traffic was the primary driver of the 10% comparable-store sales—the second consecutive double-digit quarter.

BJ’s Wholesale gains after comparable sales and membership fee income shine in Q2

BJ’s Wholesale Club Holdings (BJ) released a strong second-quarter earnings report. Total comparable club sales shot up 11.9% during the quarter. Excluding the impact of gasoline sales, comparable club sales were up 3.1%. Top-line revenue of $6.23B beat the consensus estimate by $290M. Membership fee income increased 9.9% year-over-year to $135.6M in the second quarter. The increase was primarily driven by strength in membership acquisition, retention, and higher-tier membership penetration across both new and existing clubs. On a smaller scale, the membership fee income growth was stronger than the recent paces for Costco and Sam’s Club.

Emerging Consumer Companies

Indochino announces ten new showrooms coming in 2027

Indochino announced plans to open ten new showrooms across the United States in 2027, marking the company’s largest investment in standalone retail in years. Six locations are confirmed for early 2027, with four additional showrooms slated to open in mid to late 2027. The announcement comes on the heels of six consecutive quarters of positive EBITDA for the company, underscoring the financial strength behind its direction and decision to further invest in its unique no-inventory appointee-based physical retail model. Founded in 2007, Indochino is a global leader in made to measure apparel, operating a growing network of showrooms across the United States and Canada alongside a robust e-commerce platform.

Keto ice cream Rebel Creamery files for bankruptcy after a packaging lawsuit from Van Leewuen

Rebel Creamery, whose ice cream is sold at Walmart, Kroger and other grocery stores nationwide, has filed for Chapter 11 bankruptcy amid a trade-dress dispute with competitor Van Leeuwen. According to a bankruptcy filing on Aug. 14 in the U.S. Bankruptcy Court for the District of Utah, Van Leeuwen is listed as Rebel’s unsecured creditors with a nearly $24 million claim stemming from the dispute. Rebel listed the claim as disputed and noted that the judgement is under appeal. The bankruptcy filing comes less than a month after a U.S. District judge ruled that Rebel had intentionally infringed and diluted Van Leewuen’s trade dress through its ice cream packaging.

Food & Beverage

Pilgrim’s Europe to Acquire Walkers Deli & Sausage Company

Pilgrim’s Europe, a division of Pilgrim’s Pride Corp., has agreed to acquire the UK’s Walkers Deli & Sausage Co., according to a release from Pilgrim’s. Walkers, which is owned by the UK’s Samworth Brothers (the seller in this transaction), produces premium pork products in four processing facilities located on the same site in Leicester, UK. The deal expands Pilgrim’s Europe’s footprint in the UK and builds upon an existing, long-standing relationship between the companies, as Pilgrim’s said it is the supplier of some of the raw pork products that Walkers uses to process its product lines.

Corby sells Lamb’s rum brand for $39.2m as it refocuses on growth categories

Corby Spirit and Wine Limited has agreed to sell the Lamb’s rum brand and related assets to Maison des Futailles and Glen Turner Company Limited for $39.2 million, as the Canadian drinks company moves to sharpen its focus on priority growth areas. Corby said the divestment forms part of its strategy to simplify its portfolio and release capital and resources for higher-return opportunities. The company identified ready-to-drink beverages and premium spirits as key growth platforms where it intends to concentrate investment.

Grocery & Restaurants

Taylor Montgomery named Jack in the Box president, and likely next CEO

Jack in the Box has a new president, and likely its next CEO. Taylor Montgomery, the chief brand officer with Taco Bell, was named Jack in the Box president. He will assume the position on Sept. 14. He also has a path to be the chain’s next CEO. The company said that Montgomery is expected to take over as chief executive within the next 12 months. Until then, he will continue to work under Jack in the Box Interim CEO Mark King, who is Jack in the Box’s chairman. King, named interim chief executive earlier this year, called Montgomery a proven leader with a track record of sustainable brand growth and results. Montgomery will take on one of the industry’s biggest challenges at the moment. Jack in the Box has struggled with six straight quarters of negative same-store sales, though they’ve turned positive since the most recent period.

Home & Road

$2.5B Somnigroup, Leggett deal clears major hurdle with shareholder vote

Leggett & Platt shareholders have approved the company’s proposed acquisition by Somnigroup International, clearing a key hurdle in the $2.5 billion deal. Shareholders voted in favor of the merger agreement at a special shareholder meeting, and the company said the transaction remains subject to one required regulatory approval and other remaining closing conditions; both Leggett and Somnigroup have said they expect the transaction to close once those conditions have been satisfied. In April, Somnigroup announced its agreement to acquire Leggett & Platt in an all-stock transaction under which Leggett & Platt shareholders will receive 0.1455 shares of Somnigroup common stock for each share of Leggett & Platt common stock they own, and are expected to own approximately 9% of the combined company on a fully diluted basis. Once the merger closes, Leggett & Platt is expected to operate as a separate business unit within Somnigroup and maintain its headquarters in Carthage, Mo. The acquisition will expand Somnigroup’s position across the bedding supply chain with Leggett’s broad manufacturing expertise in innersprings, specialty foam, adjustable bed bases and other components; Somnigroup owns Tempur-Pedic, Sealy and Stearns & Foster and is the parent company of Mattress Firm.

Smaller DIY Projects Help Lift Home Depot’s Q2 Comps, Earnings

The second quarter finished better than expected for Home Depot with earnings and comparable sales advancing as customers continue to engage in smaller home projects. Net earnings were $4.77 billion, or $4.79 per diluted share, versus $4.55 billion, or $4.58 per diluted share, in the quarter a year earlier, while adjusted for one-time events, diluted earnings per share were $4.92 versus $4.68 in the year-prior period. Net sales were $47.86 billion versus $45.28 billion in the year-previous period, with comparable sales up 1.7% year over year, comparable transactions down 1%, and average ticket up 2.8%. Home Depot reaffirmed its fiscal 2026 guidance, which includes IEEPA tariff refunds, calling for total sales growth of 2.5% to 4.5%, comp growth of flat to 2%, and adjusted diluted earnings per share gains of flat to 4%. The company also reported it is rolling out Express Delivery across the United States, bringing rapid fulfillment to millions of Pro and do-it-yourself customers for a flat fee with no subscription or membership required, with eligible products dropped off in three hours or less.

Lowe’s Touts Appliance Comps As Cautious DIY Customer Squeezes Q2 Gains

The Lowe’s Cos. posted adjusted earnings that beat a Wall Street estimate but came up short on revenues as the company faced continued pressure in its do-it-yourself business from consumers who are spending cautiously on their homes. Net earnings were $2.4 billion, or $4.27 per diluted share, versus $2.4 billion, or $4.27 per diluted share, in the quarter a year earlier; excluding $96 million in pre-tax expenses associated with the acquisitions of Foundation Building Materials and Artisan Design Group, adjusted diluted earnings per share increased 1.6% to $4.40. Total sales for the quarter were $25.96 billion versus $23.96 billion in the prior-year quarter, and comparable sales gained 0.2% year over year, driven by solid performance in Pro and home services sales as well as a 15.7% advance in online revenues, partially offset by persistent macro pressures in the do-it-yourself business. Updated company guidance for fiscal 2026 now has total sales at $92 billion, comparable sales flat year over year, and adjusted diluted earnings per share of $12.25.

Soft Q4 sales wrap up a solid year of growth for Flexsteel

Although Flexsteel Inds.’s fourth quarter sales rose only 0.7%, they marked the residential furniture manufacturer’s 11th consecutive quarter of year-over-year growth. Sales for the fourth quarter, ended June 30, came in at $115.4 million, driven by higher unit volume from soft seating products and partially offset by a decrease in ready-to-assemble products sold under the company’s homestyles brand. Gross margin rose to 30% compared to 23.9% for the prior year, boosted by IEEPA tariff refunds, while operating income jumped 17.0% to $16.3 million, net income climbed 18.7% to $12.7 million and diluted earnings per share rose 36.5% to $1.58. Full-year net sales increased 4.1% to $459.2 million, with operating income up 60.2% to $42.6 million, net income up 63.9% to $33.1 million and diluted earnings per share of $6.07, nearly double the previous year’s EPS of $3.55. For the first quarter of the fiscal year, the company foresees top-line growth of 1% to 4% and an operating margin of 6.5% to 7%.

La-Z-Boy’s retail momentum offset by wholesale numbers in Q1

La-Z-Boy Inc., a retailer and manufacturer of residential furniture, reported increases in retail written and delivered sales for its first quarter of fiscal 2027, ended July 25. Retail written sales were up 16% and retail delivered sales were up 10% for the period, while total sales for the company came in at $476 million, down 3% against the first quarter last year and down 1% excluding the impact of the wholesale case goods divestiture, which was completed in May. On a consolidated basis, strong retail growth was more than offset by lower wholesale delivered sales, impacted by flow through of order patterns that were “choppier than expected,” according to the company’s earnings release. Diluted earnings per share were a loss of 6 cents per share on a GAAP basis and a gain of 43 cents per share on an adjusted basis, with adjustments relating primarily to one-time charges from the planned exit of the company’s two smallest plants.

Jewelry & Luxury

Swiss Watch Exports to U.S. Jump 26.5% in July

Exports of Swiss watches to the United States surged 26.5% in July, making the U.S. the leading driver of growth for the Swiss watch industry during the month, according to new data released by the Federation of the Swiss Watch Industry (FH). U.S. exports totaled 701.3 million Swiss francs (approximately $866 million), representing 26.7% of all Swiss watch exports in July, and the FH said the United States has now delivered double-digit growth for three consecutive months. Overall, Swiss watch exports rose 9.6% year over year to 2.63 billion Swiss francs ($3.25 billion) in July, and the FH said the strong monthly performance pushed cumulative exports for the first seven months of 2026 into positive territory, with year-to-date exports up 0.9%. Growth was broad-based across product categories: exports of watches made from precious metals increased 3.7% by value, steel watches rose 9% and bimetallic gold-and-steel models climbed 23.8%, while the industry shipped about 97,000 more watches than in July 2025, bringing total wristwatch exports to roughly 1.5 million units for the month. The strongest gains came from higher-priced watches, with watches carrying export prices above 3,000 Swiss francs ($3,700) up 12% by value, while among major export markets the United Kingdom rose 9.5% and the European Union rose 12.4%, mainly driven by Germany, and China fell 18.5%.

Falic Group Acquires Abu Dhabi Travel Retail Business from DFS

Miami-based Falic Group, best known as the operator of Duty Free Americas, said it has agreed to acquire 100 percent of DFS’s luxury travel retail business at Zayed International Airport in Abu Dhabi, as LVMH Moët Hennessy Louis Vuitton continues to divest its DFS holdings. Financial terms were not disclosed, and the transaction is expected to close in the third quarter. Falic said the acquisition will give Duty Free Americas an immediate, scaled presence in one of the Middle East’s fastest-growing travel retail markets, accelerating its luxury retail and regional growth strategy and establishing a strong platform for future expansion in the Middle East and Africa. Zayed International Airport ranks as the UAE’s second-largest airport, able to handle up to 45 million passengers a year, and the concessions being transferred to Duty Free Americas include brands in luxury and contemporary fashion, watches, jewelry and sunglasses. The family-owned Falic Group, founded in 2001 with the acquisition of Duty Free Americas, operates more than 370 stores in 38 countries; LVMH has also agreed to sell its Los Angeles and San Francisco airport concessions to Duty Free Americas and DFS Okinawa to Swiss-based travel retailer Avolta.

Technology & Internet

Amazon plans drone expansion as top exec projects 1 million deliveries

Amazon said it plans to offer drone deliveries in nearly 500 U.S. cities and towns by the end of the year, a sign of momentum for a project that’s been slow to develop since founder Jeff Bezos first laid out his vision for the service almost 13 years ago. The planned expansion for Prime Air would represent a sixfold increase from its current footprint, the company said in a blog post. Amazon’s latest update comes five months after David Carbon, vice president of Prime Air, spoke confidently about the program and laid out ambitious growth plans in an internal all-hands meeting, according to a recording obtained by CNBC. Carbon projected at the time that Prime Air will make 1 million deliveries this year, and said Amazon has the highest demand drone delivery service in the industry. The company said it made hundreds of thousands of deliveries so far this year, and makes thousands daily.

Reddit Nearly Vanishes From ChatGPT Citations After OpenAI Search Change

Reddit’s share of ChatGPT citations collapsed from 3.8% to 0.5% in days, after OpenAI changed how ChatGPT searches the web, according to a Gizmodo report based on data from AI visibility platform PromptWatch. The drop was sudden. Reddit held a steady 3.8% average share of ChatGPT citations from July 18 through August 7 — one of the largest of any domain on the web. By August 14, it had fallen below 1%, and the August 14–17 average of 0.52% represents an 86% relative decline. For context on how far that is from Reddit’s peak: as recently as April, Reddit was the single most-cited domain in ChatGPT Search, accounting for 4.14% of all citations. The slide traces back to a technical shift in how ChatGPT searches the web. On August 8, PromptWatch observed that ChatGPT Search began using the “site:” operator at scale — queries scoped to a specific domain jumped from 0.37% to 16.8% of all background searches within a single day, a roughly 46x increase. At the same time, the average number of searches ChatGPT runs per response nearly doubled, from about 1.08 to 1.83. In plain terms: instead of primarily searching the open web and seeing what comes back, ChatGPT now frequently goes directly to specific sites to pull information.

Finance & Economy

Treasury Doubles Debt Buybacks as Bessent Moves to Steady Bond Market

The Treasury Department will at least double its buyback operations for longer-term government debt, raising the maximum size of each purchase from $2 billion to at least $4 billion between Sept. 9 and Nov. 4. The program will focus on 10- to 20-year and 20- to 30-year Treasury securities, where yields had climbed to their highest levels in nearly two decades as investors demanded more compensation to hold government debt. The announcement immediately eased market pressure: the 10-year Treasury yield fell about 5.7 basis points to 4.647%, while the 30-year yield dropped 9 basis points to 5.196%, and stock futures moved higher. Treasury says the expanded program is intended to improve liquidity, but critics note that the purchases are small compared with the government’s overall borrowing needs and do not reduce the federal deficit. Ultimately, the move may stabilize the bond market and temporarily lower borrowing costs, but it does not address the deeper pressures of large fiscal deficits, heavy debt issuance, and inflation risks

U.S. Debt Swells Past $40 Trillion

U.S. government debt reached $40.05 trillion, according to Treasury data, marking a milestone that comes just four and a half years after debt first exceeded $30 trillion. The total has more than doubled from $19.4 trillion a decade ago, reflecting years of large budget deficits, including pandemic-era stimulus spending. The Treasury reported a $432.3 billion deficit in July, the largest monthly shortfall in more than five years, bringing the year-to-date deficit close to $1.8 trillion. Interest payments on the debt have reached nearly $1.2 trillion this year, making them the largest federal expense after Social Security and Medicare. The rising debt burden is pushing borrowing costs higher and increasing pressure on policymakers to address the deficit, particularly as the Treasury intervenes to support the long-term bond market.