Apparel & Footwear

Forever 21 may open stores in the US, after all

A day after announcing a trio of partnerships that will operate Forever 21’s wholesale and online retail in the U.S., Authentic Brands Group said that it’s on the verge of opening physical locations here as well. The brand’s American operating company filed for Chapter 11 earlier this year and is winding down after failing to attract a buyer; that has meant closing all locations. The bankruptcy doesn’t involve operations abroad, and the brand still operates stores and runs pop-up activations in certain international markets. As a brand management firm, Authentic has held onto the fast-fashion label’s intellectual property throughout. “We are in advanced discussions with a leading retail operating partner to open new U.S. stores,” an Authentic spokesperson said by email.

Gap Inc. names industry veterans to develop beauty, accessories businesses

Gap. Inc. has unveiled a slate of top talent to develop beauty and accessories into new “growth engines” for the company. The apparel giant tapped former Nordstrom beauty executive Deb Redmond as general manager of beauty, and Michele Parsons, who has worked with Kate Spade, Coach, J. Crew and Tommy Hilfiger, as general manager of accessories, with both appointments effective immediately. The new roles are intended to “advance the strategy, product development, customer experience, and go-to-market execution of beauty and accessories across the company’s portfolio of brands,” Gap Inc. said in a press release. In addition, the retailer has “engaged” award-winning designer Reed Krakoff, formerly of Coach and Tiffany & Co. and currently creative chairman at Tom Hardy, and John Demsey, former executive group president of Estee Lauder, as executive directors of accessories and beauty, respectively.

Athletic & Sporting Goods

Avid Sportswear Acquired by Fortified Equity

Fortified Equity has acquired Avid Sportswear and appointed Pete Angle as CEO to expand the brand’s presence in outdoor and fashion markets. The company stated that Angle has been serving as interim president of the Florida-based performance outdoor lifestyle brand for the past two years, “guiding the brand through a period of transition, growth and positioning it for its next stage of expansion.”  Fortified Equity is a family office investment firm specializing in small to mid-sized opportunities, providing tailored exit solutions to founders and owners.

Puma surges after report CVC, Authentic Brand preparing takeover bid

Two investors are preparing a takeover bid for German sportswear maker Puma, Manager Magazin reported, pushing its share price up more than 11%.  Authentic Brands CEO Jamie Salter and private equity firm CVC’s German head Alex Dibelius have both expressed their interest in the 29% stake held by the Pinault family, paving the way for a potential bidding war, the German magazine reported.  Reuters reported last week that Artemis will not sell its stake in Puma at its current market value and is not engaged in talks over a deal.  Salter’s Authentic Brands is known for acquiring and revitalising distressed brands such as clothing chains Forever 21 and Aeropostale and bought Reebok from Adidas in 2021, beating off competition from rival suitor CVC.

Cosmetics & Pharmacy

Mitchell Family Office Acquires Luxury Beauty Retailer Cos Bar

Mitchell Family Office, a Michigan-based private investment firm, has acquired Cos Bar, the U.S. luxury multi-brand beauty retailer founded in Aspen in 1976. The transaction amount has not been disclosed. Cos Bar operates a network of stores across the United States and has built a reputation for curating high-end beauty brands and offering personalized client service. The retailer is approaching its 50th anniversary and is positioned as a trusted name in prestige beauty retail.

OSEA Malibu Announces Strategic Growth Investment from General Atlantic

OSEA Malibu, the pioneering seaweed-infused skincare brand that has set the standard in clean, clinically-proven beauty for nearly 30 years, announced that it has entered into a definitive agreement to receive a strategic growth investment from General Atlantic, a leading global investor. Mother-Daughter founders Jenefer and Melissa Palmer will retain a significant stake and continue to actively lead and support the brand’s day-to-day operations, mission, and strategy. With General Atlantic’s investment, OSEA will deepen its presence in core markets and bring its innovative products to additional markets worldwide.

THG Returns to Growth in Q2 as Beauty Outlook Improves

THG has reported interim results for the first half of 2025, with revenue growth returning in the second quarter and momentum expected to continue into the second half of the year. Group revenue for the six months to 30 June stood at £783.4m, a 2.6 percent decline year-on-year in constant currency, while adjusted EBITDA dropped to £24m from £37.1m the prior year. Gross margin fell to 41.1 percent, compared to 42.6 percent in H1 2024, largely impacted by record whey prices in Nutrition.

Glossier appoints former P&G beauty head Colin Walsh as CEO

Glossier has named Colin Walsh as its new chief executive officer, effective October 6, following the planned departure of Kyle Leahy at year-end. Walsh most recently led Procter & Gamble’s specialty beauty division, stepping down in June, the same month Leahy announced her exit from Glossier. He previously served as CEO of Ouai, both before and after its acquisition by P&G. Walsh’s appointment comes as Glossier continues its evolution from a direct-to-consumer pioneer into a multi-channel brand, having launched in Sephora in 2023 and expanded into new product categories, including fragrance. The company has also expanded its footprint internationally, with markets such as France now part of its distribution strategy via Sephora.

Discounters & Department Stores

Primark expands US footprint

Fashion retailer Primark is growing its brick-and-mortar footprint in the United States, according to a recent announcement. The international retailer has signed 18 leases, four of which are new, and will enter into Minnesota for the first time. The expansion announcement is part of Primark marking a decade in the U.S. The company opened its first location in Boston in 2015 and currently has 33 stores across the country. “Primark came to the United States a decade ago very deliberate in our approach, testing and learning to ensure that as we continued to expand our footprint in-market, we were getting it just right for US shoppers,” Kevin Tulip, president of Primark U.S., said in a statement. “To say we’re thrilled with the success we’ve seen in the US to-date is an understatement.”

Macy’s kicks off ‘100 Days to Christmas’ with new merchandise, curated gift ideas

On Tuesday, Sept. 16, Macy’s launched its 100 Days to Christmas marketing effort that features a curated list of 100 unique holiday gifts and ongoing sales events ahead of the holiday season. The department store also promised to offer more than 40% newness across its assortment, according to a press release. For the second consecutive year, Macy’s Herald Square flagship will house a Holiday Square experiential market in the store’s 15,000-square-foot lower level featuring customizable gifts, along with ready-to-eat on-site food vendors including hand-painted sugar cookies, freshly made donuts, tea and hot chocolate, desserts and sandwiches. The market will run from Nov. 1 to Jan. 4. Macy’s State Street store in Chicago this year will debut its own version of a Holiday Square Market that runs from Nov. 26 through Dec. 24 and features locally grown produce, seasonal flowers and festive food done with a French cultural flair.

Emerging Consumer Companies

Slate Milk, high protein beverage brand, raises $23 million

Slate Milk cofounders Manny Lubin and Josh Belinsky revealed the brand has raised a $23 million Series B funding round. Led by Foundership Ventures, a new fund by Yasso frozen greek yogurt cofounders Drew Harrington and Amanda Klane, the money will allow Slate to continue its momentum towards ubiquity as it hits 100,000 points of distribution across 20,000 stores nationwide by the end of 2025. Slate also revealed that it is rolling out several line extensions including a 20 gram protein Strawberry milk at Sprouts Farmers Market, a 30 gram protein Cookies & Cream milk at Target, and a 30 gram protein Salted Caramel flavor at Walmart and Albertsons banner stores.

Phia Raises $8 Million Seed Round Led by Kleiner Perkins To Build the AI Agent for Shopping

Phia, the AI-powered shopping agent founded by Phoebe Gates and Sophia Kianni, today announced its $8 million seed round led by Kleiner Perkins, with participation from investors such as Hailey Bieber, Kris Jenner, Sara Blakely, Michael Rubin, Desiree Gruber, and Sheryl Sandberg. Launched in April 2025, Phia’s iOS app and mobile browser extension gives consumers a powerful AI agent that compares prices, calculates resale value, summarizes product details, and tracks price drops in real time to help them make smarter decisions instantly. In five months, Phia has amassed 500,000 users, secured over 5,000 direct brand partnerships, and driven tens of millions of dollars in sales.

Love Your Melon founder buys back brand

One of Love Your Melon’s founders has reacquired the company and will relaunch it as LYM, with new products set to debut on the company website. Zachary Quinn, who founded Love Your Melon in 2012 with Brian Keller, will serve as CEO of the company. Quinn bought the company back from DTC holding company Win Brands Group, which purchased the brand in 2022. Love Your Melon is known for its colorful beanie caps, as well as donating hats to children battling cancer and donating a share of profits to cancer-fighting nonprofits.

Food & Beverage

Splenda owner buys SlimFast for undisclosed amount

Glanbia is selling Slimfast to Splenda owner Heartland Food Products for an undisclosed amount. SlimFast, founded in 1977, sells diet shakes, bars, meals, snacks, and other supplement foods. The brand, along with nutritional supplement brands Healthy Delights and Nu-Therapy, was purchased by Glanbia for $350 million in 2018 from Unilever. In February, Glanbia took a non-cash impairment charge of $91.4 million on SlimFast as “continuing challenges in the diet category” impacted performance. The Ireland-based company said at the time it would look to sell the brand as part of its exit from the weight loss category.

Danone abandons acquisition of Lifeway Foods

Danone is no longer pursuing an acquisition of kefir maker Lifeway Foods, the dairy giant said in a filing with the Securities and Exchange Commission. The Oikos maker is also reviewing options for its roughly 23% stake in Lifeway, which could include a sale. Danone decided not to move forward with a buyout because it didn’t believe the two companies could work together effectively, according to Barrons. The yogurt maker will instead explore opportunities within its existing brands. Danone proposed buying Lifeway in September 2024 for $25 a share before increasing the offer to $27 two months later. Lifeway rejected both proposals, saying Danone undervalued the Illinois company.

Sleepytime Tea owner Hain Celestial ‘aggressively’ accelerates restructuring

Hain Celestial is accelerating its restructuring efforts as the healthy food and beverage maker faces a prolonged slowdown in sales, with interim CEO Alison Lewis acknowledging “this business has clearly not been performing.” Sales at the Garden Veggie snack and Greek God yogurt manufacturer fell 10% to $1.56 billion during Hain’s 2025 fiscal year, Hain said on Sept 15, with net losses swelling to $531 million from $75 million in 2024. To streamline its business, Hain is taking a series of steps that include cutting down on the number of SKUs it offers, eliminating its North American president position, and selling or exiting certain brands.

Private equity firm snags Sweets from the Earth

Fengate Private Equity, a division of Fengate Asset Management, has acquired Sweets from the Earth, a Toronto-based manufacturer of plant-based and allergy-friendly sweet baked foods. Financial terms of the acquisition were not disclosed. Following the acquisition, Ilana Kadonoff, founder and co-chief executive officer, and Marc Kadonoff, co-CEO, will retain a “significant minority stake and will continue to lead the company in partnership with Fengate,” Fengate said. Sweets from the Earth’s product offerings include plant-based gluten-, nut-, and sugar-free cakes and cheesecakes, cookies, frozen cookie dough, bars, squares, brownies, cupcakes, muffins, loaves, buns, and other treats that are sold in the United States, Canada, and the Middle East.

Grocery & Restaurants

Olive Garden Owner Darden Disappoints on Earnings but Hikes Sales Outlook

Darden Restaurants on Thursday reported mixed quarterly results, as Olive Garden and LongHorn Steakhouse helped offset weakness in its fine-dining business. The company also raised its full-year forecast for revenue growth, although it only reiterated its projections for its earnings. Net sales climbed 10.4% to $3.04 billion, lifted by the company’s acquisition of Chuy’s Tex-Mex restaurants that was completed last October. Darden’s same-store sales rose 4.7% in the quarter. “All our casual-dining brands saw an increase in visits year over year from guests across all income groups, but specifically those in higher-income groups,” Darden CEO Rick Cardenas said on the company’s earnings conference call. “You would expect that could have been some trade down, but it could be trade up from lower-income groups to the great value in casual dining.” In recent quarters, the casual-dining segment has won over diners by promoting value offerings as prices at fast-casual and fast-food restaurants climb. To attract price-conscious customers, Darden has kept its menu price hikes below the rate of inflation across its brands. CFO Raj Vennam said the company’s prices were 30 basis points, or 0.3%, below inflation in the fiscal first quarter.

Black Rock Coffee Bar raises $294.1M in IPO

Black Rock Coffee Bar Inc., the 158-unit Scottsdale, Ariz.-based drive-thru coffee chain, raised $294.1 million in its U.S. initial public offering. In its first day of trading Friday on the Nasdaq stock exchange, the 1.3 million shares closed at $27.53, about 38% above their opening price of $20 a share. As Black Rock Coffee prepared to go public, the company reported in Securities and Exchange Commission filings that it had 10.1% same-store sales growth and a 24% increase in revenue between the first half of 2024 and the first half of 2025. The company, however, also reported a loss of nearly $2 million in the first two quarters of the year. Black Rock Coffee more than doubled in unit count over the past five years. Almost three-quarters of revenue came from drive-thru transactions.

Home & Road

Brand House Collective highlights Kirkland’s deal, first Bed Bath & Beyond store in Q2 earnings

One day after inking the deal to sell Kirkland’s Home intellectual property to Bed Bath & Beyond, Brand House Collective released its second quarter earnings, also highlighting the grand opening of its first Bed Bath & Beyond Home store on Aug. 8. “The debut of our first Bed Bath & Beyond Home store was met with overwhelming demand, exceeding our expectations and generating nationwide excitement that affirms the strength of this iconic brand,” said Amy Sullivan, CEO of Brand House Collective. “That early success gives us confidence to accelerate the conversion of Kirkland’s Home stores. We are also unlocking new opportunities by monetizing the Kirkland’s Home name, both inside Bed Bath & Beyond stores and through wholesale partnerships with independent retailers, creating an exciting new chapter for a brand with a 60-year legacy.” Store plans for the broader portfolio of Bed Bath & Beyond brands, including Buybuy Baby and Overstock, are in development with the expectation for the first Buybuy Baby store to open in fiscal 2026.

Furniture continues to outpace 2024 levels in August

The furniture and home furnishings category put together another month of strong year-over-year sales in August, according to the Department of Commerce‘s advance monthly estimates. The category, which measures brick-and-mortar store sales, totaled $11.645 billion in adjusted estimated sales, an increase of 5.2% compared to August 2024’s $11.07 billion, and 0.3% off the pace from July’s $11.677 billion in adjusted preliminary sales. Year-to-date, the DOC estimates that the furniture and home furnishings category has totaled $90.30 billion in unadjusted sales, which represents a 5.4% year-over-year increase. Taking in the full retail picture, the DOC reports $732.01 billion in adjusted estimated sales across all categories, which is five points higher than August 2024’s $697.16 billion and 0.6% up on July’s adjusted preliminary $727.41 billion.

Jewelry & Luxury

Marco Felci Named Tod’s Group Americas CEO

Tod’s Group has appointed Marco Felci chief executive officer, Americas. He succeeds Roberto Lorenzini, who, as reported, is stepping down in mutual agreement with the owners of the Italian group, the Della Valle family. Felci joins Tod’s from Dolce & Gabbana, where he held the role of executive vice president, commercial. Felci brings to the Italian group more than 20 years of experience in the luxury and fashion industry, with a strong focus on the American market. He began his career at Hermès in Italy before moving to the United States, where he held senior leadership roles at Loro Piana, Lanvin and Versace, and later served as CEO Americas at Etro.

Claire’s acquisition closes with plans for smaller store footprint

Private investment firm Ames Watson has finalized its acquisition of the Claire’s North American business for $140 million, per a Sept 19 press release. The group has worked with RCS Real Estate Advisors to keep at least 800 stores open, with the potential to reach 950, per a separate release. The group says it “is committed to preserving Claire’s heritage while positioning the company for sustained growth,” per the release. Ames Watson intends to keep malls as a destination for consumers by elevating the Claire’s piercing service, in addition to refreshing its merchandise and store concepts. The investment firm will use a similar playbook to the one it executed after buying Lids, focusing on exclusivity, customization and cultural relevance. The acquisition adds to Ames Watson’s existing retail portfolio, which includes controlling investments in South Moon Under, Ebbets and more.

Francesca Bellettini appointed President and CEO of Gucci

Kering announced the appointment of Francesca Bellettini as President and Chief Executive Officer of Gucci, reporting to Luca de Meo, Chief Executive Officer of Kering. Luca de Meo stated: “At this pivotal moment, I intend to build a leaner and clearer organization in which the best talent drive our Houses forward. Gucci, as the flagship of our Group, deserves the sharpest focus, and Francesca — one of the most seasoned and respected professionals in our industry — will bring the leadership and flawless execution needed to restore the brand to its rightful place.”

Office & Leisure

Platinum Equity to Acquire PlayPower

Platinum Equity announced that it has signed a definitive agreement to acquire PlayPower, one of the world’s leading designers and manufacturers of recreational and outdoor living systems, from Littlejohn & Co, LLC.  Headquartered in Huntersville, North Carolina, PlayPower designs and manufactures a wide range of products for outdoor recreation and living, including playground systems, recreational equipment, and related solutions, serving key end markets such as schools, parks and recreation, commercial and industrial facilities, residential communities, marine environments, and hospitality venues. The company maintains an international footprint with manufacturing and distribution facilities across North America and Europe, enabling efficient delivery, reduced transit times, and compliance with regional regulatory and design standards.

Swifto Acquired by Houndry

Swifto, the first company to introduce GPS-tracked dog walking in 2012, has been acquired by Houndry, marking a major milestone for the pet care brand known for innovation, growth, and unwavering quality.  Founded by Penina First, Swifto built its reputation by combining proprietary GPS tracking technology with a rigorous commitment to service—hand-selecting only the top one percent of dog walker applicants. Penina, who has served as CEO since Swifto’s inception, grew the company from a local New York City startup into a multi-market operation, recently expanding into Miami and North Carolina.  To date, Swifto has completed over 500,000 dog walks and recently expanded by acquiring two beloved local North Carolina dog walking services—Wagz ‘n Whiskerz and Little Friends—while preserving the same high-quality, personalized care that clients trust.

Technology & Internet

Trump, Xi make progress on TikTok deal, but work remains: White House

President Donald Trump and Chinese leader Xi Jinping failed to come to a final agreement on TikTok during a call Friday, but the two made significant progress toward a deal, a White House official told CNBC. Later Friday, Trump said in the Oval Office that a TikTok deal “is well on its way, as you know, and the investors are getting ready.” “We have to get it signed,” he said, according to a White House pool reporter, adding, “I guess it could be a formality.” The White House official’s remarks on the much-anticipated call came after Trump and China’s state media issued dueling readouts of their conversation that left the status of a deal on the popular video app unclear. Trump and his administration had signaled earlier in the week that a deal was all but clinched. Treasury Secretary Scott Bessent said Monday that negotiators for the two countries had agreed on a “framework” for TikTok, which is under threat of being banned in the U.S. Trump on Tuesday had even stated, “We have a deal on TikTok,” adding that his call with Xi was merely “to confirm everything up.”

Amazon reseller Pattern debuts on Nasdaq after IPO raised $300 million

Pattern Group, one of the leading resellers on Amazon, took the plunge into the public markets Friday and saw its stock rise slightly in its Nasdaq debut. Trading under the ticker “PTRN,” the stock opened at $13.50 after the company sold shares at $14 in its IPO, the middle of the expected range. The shares closed up 11% at $15.63 on Friday. Pattern’s offering raised $300 million, with half the proceeds going to investors, and valued the company at about $2.5 billion. The Utah-based company was founded by husband-and-wife duo David Wright and Melanie Alder in 2013 as iServe Products before it changed its name to Pattern in 2019. Pattern currently ranks as the No. 2 Amazon seller in the U.S., based on the number of customer reviews, according to research firm Marketplace Pulse. The company describes itself as an “ecommerce accelerator” that helps more than 200 brands optimize their sales on online marketplaces such as Amazon, Walmart, Target and TikTok Shop. It sells tens of thousands of products across categories including health and wellness, consumer electronics, and beauty and personal care.

Finance & Economy

Retail sales up 0.6% in August from July even as tariffs hurt jobs and lead to price hikes

Shoppers increased their spending at a better-than-expected pace in August from July, helped by back-to-school shopping, even as President Donald Trump’s tariffs start to hurt the job market and lead to price increases. Retail sales rose 0.6% last month from July, when sales were up by a revised 0.6%, according to the Commerce Department’s report. In June, retail sales rose 0.9%, the government agency said. The August performance was also likely helped by the continued efforts by Americans to keep pushing up purchases ahead of expected price increases. The sales increases followed two straight months of spending declines in April and May. Excluding auto sales, which have been volatile since Trump imposed tariffs on many foreign-made cars, retail sales rose 0.7% in August. Sales at auto vehicle and parts dealers rose 0.5%.

Fed approves quarter-point interest rate cut and sees two more coming this year

The Federal Reserve on Wednesday, Sept 17, approved a widely anticipated rate cut and signaled that two more are on the way before the end of the year as concerns intensified over the U.S. labor market even as inflation is still in the air. In an 11-to-1 vote signaling less dissent than Wall Street had anticipated, the Federal Open Market Committee lowered its benchmark overnight lending rate by a quarter percentage point. The decision puts the overnight funds rate in a range between 4.00%-4.25%. Newly installed Governor Stephen Miran was the only policymaker voting against the quarter-point move, instead advocating for a half-point cut.

Oil Falls as Trump, Xi Jinping Meeting Curbs Tariff Expectations

Oil extended a three-day losing streak after an amicable exchange between President Donald Trump and Chinese President Xi Jinping reduced traders’ concerns that US threats of indirect levies on Russian crude supplies would come to pass. West Texas Intermediate crude oil fell 1.4% to settle just below $63 a barrel as traders rolled over positions ahead of the October contract’s expiry next week, adding to choppy trading. Trump said he would meet Jinping on the sidelines of the upcoming Asia-Pacific Economic Cooperation summit, but there was little publicly said about China’s continued purchase of Russian crude supplies.