Apparel & Footwear

Revolve Takes Minority Stake in Toronto-Based Activewear Startup 437

Revolve Group, the fashion e-tailer, has invested C$15 million (US$10.5 million) to acquire a minority stake in 437, the Toronto-based athleisure brand, with the goal of expanding its reach. Founded in 2016 as a swimwear label, 437 entered activewear in 2023 and designs pieces for Pilates, yoga, hot sculpt, strength training and everyday wear. Co-CEO Hyla Nayeri said 437 ranked as the top activewear brand on Revolve by total sales and units across 103 activewear brands, with an 80% 30-day sell-through rate against a category average of 43.5%. Five of Revolve’s top 10 activewear styles come from 437.

Lululemon, Chip Wilson Extend Agreement Deadline as Divorce Questions Linger

Lululemon and founder Chip Wilson have extended the Oct. 1 deadline for appointing a new board member under their May settlement, according to Bloomberg. Neither the length of the extension nor the reason for the delay was disclosed. Under the agreement, Lululemon agreed to take steps to appoint a director with product and brand expertise in apparel, subject to Wilson’s approval, and has already added two of his three nominees, Laura Gentile, formerly of ESPN, and Marc Maurer, formerly co-CEO of On. Wilson also agreed not to publicly disparage the company for about 18 months. Lululemon shares have fallen 53.6% since the start of the year.

Cosmetics & Pharmacy

Unilever sells Zwitsal to Royal Sanders

Unilever has agreed to sell Zwitsal, a long-established Dutch baby and family care brand, to Royal Sanders, the Dutch personal care manufacturer behind brands such as Odorex and Melkmeisje. Financial terms were not disclosed. Zwitsal is a well-known name in the Netherlands, but Unilever is directing its investment toward brands with broader international reach. The sale is the latest in a series of portfolio changes at Unilever, which has also sold other predominantly Dutch brands.

Tresalis acquires Vyrao, names founder Yasmin Sewell Chief Brand Officer

Tresalis, a newly formed platform built to acquire and grow science-led consumer health, beauty and wellness brands, has taken majority ownership of London-founded wellbeing fragrance house Vyrao. Terms were not disclosed. Tresalis is anchored by Munich-based family office ATHOS and health and beauty entrepreneur Dr. Fernando Tamez, and Vyrao is its first acquisition. Founder Yasmin Sewell, who launched the brand in 2021, will continue as Chief Brand Officer and shareholder. Existing investors, including Elevate Beauty and Manzanita Capital, keep minority stakes. Vyrao develops mood-focused fragrances with IFF’s Science of Wellness program. It has since expanded into candles, incense and cream scents, and is stocked by retailers such as Liberty London, Space NK, Mecca and Goop.

Discounters & Department Stores

Target cuts prices as consumer sentiment sours

Target is lowering prices on about 2,000 home, apparel and accessories items as the holiday season approaches. The cuts follow roughly 3,000 reductions in March, bringing the retailer to 10,000 price cuts over the past year. The move comes as consumer sentiment fell to a four-month low in September, pressured by higher fuel costs and new trade disputes.

Walmart to invest more than $300M in fulfillment hub for bulky items
Walmart plans to invest more than $300 million in a new distribution facility in Turtlecreek Township, Ohio, in the Greater Cincinnati area. The hub, on a nearly 100-acre site, will specialize in fulfilling large, non-sortable items such as TVs, furniture and other oversized merchandise. Walmart says positioning that inventory closer to customers will help it deliver more items faster and support continued growth of its next-day delivery network. The facility is expected to create more than 300 jobs and will complement Walmart’s existing fulfillment operation in nearby Monroe, Ohio, which will remain open.

DoorDash partners with Macy’s, Anthropologie, North Face, Vans, and Timberland

Shoppers can now buy Macy’s apparel, beauty and home assortments on the DoorDash marketplace, with delivery from more than 350 Macy’s stores nationwide. The partnership builds on the white-label DoorDash Drive service Macy’s has used for same-day and next-day delivery since 2020. DoorDash will also join the 100th Macy’s Thanksgiving Day Parade for the first time, with a float featuring holiday gifts and other Macy’s merchandise available on the app. The same rollout adds Anthropologie and VF Corp.’s The North Face, Vans and Timberland, and DoorDash says customers can receive orders in as little as an hour.

Emerging Consumer Companies

South 40 Snacks raises nearly $6 million to grow its seed-based snack line

Seattle-based South 40 Snacks has raised nearly $6 million, according to a Form D filed with the SEC. Josh Schroeter, founder and former CEO of nut mix brand Sahale Snacks, started the company in 2018 around jumbo sunflower seeds. Its lineup now also includes nut and seed bars, dried fruit bars and Craft Bars that blend nuts, seeds and spices. Scott Greenburg, founder of Seattle-based FarPoint Venture Law, joined the board alongside the raise.

Sensori closes oversubscribed pre-seed round of nearly $1 million

Dallas-based Sensori, a functional non-alcoholic ready-to-drink brand, has closed an oversubscribed pre-seed round of nearly $1 million. The round was funded entirely by creators, community members and professional athletes, and brought more than 40 creators onto its cap table. Under its model, creator investors put in their own capital and commit to specific brand activations in exchange for equity. Sensori launched in February 2025 and makes its drinks with kanna, blue lotus, mushroom extracts and adaptogens. It is adding two flavors, bringing its Connect and Play lines to four SKUs. The company says quarterly revenue has grown ninefold over the past five quarters. It plans to use the capital to secure an anchor retail account and expand into grocery and hospitality, with former Poppi sales executive Jacqueline Harrill advising on retail strategy.

CardVault Opens Stores in Indianapolis and Los Angeles

CardVault, the sports card and collectibles store backed by Tom Brady, opened two stores in downtown Indianapolis and Los Angeles, bringing the trading card retailer to 19 locations. “Indianapolis has an incredible sports culture and a passionate fan base, making it a natural market for CardVault,” said Ed Kane, co-founder, CardVault. “Opening our doors on a Colts game day is a great way to introduce CardVault to the city. We’re excited to create a destination where longtime collectors and new fans alike can buy, trade, discover and connect around the hobby, and we’re looking forward to becoming part of the Indianapolis sports community.” The Indianapolis store is located within walking distance of Lucas Oil Stadium and Gainbridge Fieldhouse.

Premium soda brand Something & Nothing raises $6.4 million to fuel US growth

Venrex, an early-stage investor known for backing consumer brands before they break out, has led a $6.4 million capital raise for premium soda brand Something & Nothing with participation from all existing institutional investors, including Rianta Capital, ACF Investors, and The Source Ventures (Spadel). The raise brings total funds raised to $15.7 million since the company’s 2020 founding. Founded in the UK by Olly Dixon and Rupert Pugsley, Something & Nothing launched stateside in 2021, and the US now makes up more than 65% of global revenue. US revenue grew 70% across June and July 2026, with Amazon sales more than doubling over the summer.

Food & Beverage

Crosta Mollica and European Pizza Group merge to create €1 billion pizza business

UK pizza brand Crosta Mollica is merging with European Pizza Group, maker of Wagner and Buitoni, creating one of Europe’s largest pizza companies with about €1 billion in combined retail sales. Both will keep operating as standalone businesses, and no near-term changes are planned to either operating model. Crosta Mollica chairman David Milner will become CEO of the combined group. Crosta Mollica’s retail sales have tripled from €90 million to €270 million since early 2024, making it the UK’s second-largest pizza brand. EPG, spun out of Nestlé in 2023, sells across 10 core European markets from plants in Italy and Germany. PAI, Perwyn, Nestlé and management will continue to back the combined company.

Jean-Charles Boisset acquires Artesa Estate in Napa Valley

Vintner Jean-Charles Boisset has acquired Artesa Estate from Spain’s Raventós Codorníu, adding a 350-acre Napa Valley property with 155 planted acres across Los Carneros and Mt. Veeder. Terms were not disclosed. The estate was founded in 1991 as Codorníu Napa to make California sparkling wine and is known for its pyramid-shaped, gravity-flow winery. Boisset plans to build on that sparkling heritage under both the Artesa name and his JCB label. He will also keep developing the still wines and position the estate as a destination for art and culture. Artesa joins a Boisset Collection portfolio of more than 30 wineries and destinations in France and California, including Buena Vista Winery, Raymond Vineyards and DeLoach Vineyards.

Hormel expands deeper into protein with $1B purchase of chicken processor

Hormel Foods has agreed to acquire Brakebush Brothers, a value-added chicken products company, for $1.055 billion. The deal is expected to close in the first quarter of Hormel’s 2027 fiscal year, which ends in late January. Brakebush is family-owned, was founded in 1925 and is based in Wisconsin. It sells mainly to foodservice customers and generated roughly $1.2 billion in net sales over the past year. Hormel president and incoming CEO John Ghingo called chicken one of the most attractive growth categories in protein, and said the deal adds scale, expertise and customer reach to Hormel’s foodservice business. Foodservice makes up close to a third of Hormel’s sales, versus more than 60% for retail.

Conagra slims down portfolio while investing more in popcorn, meat sticks

Conagra Brands is exiting its Celeste frozen pizza line and reviewing additional SKUs and brands to cut or divest, with most of the benefits expected over the next 12 to 18 months. CEO John Brase, a former J.M. Smucker executive who took over in June, said Conagra makes more than 400 single-serve meal SKUs alone. He wants to exit small, low-profit brands as soon as possible and redirect resources to meat sticks and popcorn, where Conagra is a market leader. The update came with first-quarter results: adjusted EPS of $0.41 beat the $0.28 consensus, while revenue fell 1.4% to $2.60 billion. Conagra expects fiscal 2027 organic net sales to fall 1% to 3%. It also plans price increases on some frozen foods, which it warned are likely to cost volume.

Grocery & Restaurants

El Pollo Loco to open first New York restaurant

El Pollo Loco will open its first New York City restaurant next year as the California chain looks to become a national player. El Pollo Loco has closed three development agreements for a total of 15 restaurants in the New York area over the next five years, the company announced on Tuesday. The first location is expected to open in Queens in mid-2027. Founded in Mexico in 1975, El Pollo Loco opened its first U.S. restaurant in Los Angeles. The majority of its locations are still concentrated in California, but its footprint has grown to more than 500 restaurants across 10 states. It is best known for its bone-in grilled chicken, although its menu has expanded. CEO Liz Williams wants to make El Pollo Loco into a national chain. To expand outside its Southwestern stronghold, El Pollo Loco will open restaurants on the East Coast and then move its way back to the West, she said. To succeed in new markets, the chain will have to build its brand awareness in a crowded space at a time when consumers are watching their budgets.

Burger King refranchising plan targets local operators

When Jeremy Kline was 15, he started as a crew member at Taco Bell. In the decades since then, he worked his way up the restaurant industry to director of franchising for Burger King North America. These days, he is on the other side of the aisle as one of the burger chain’s newest franchisees, after buying 16 locations in the Salt Lake City area in February. Kline is one of the new operators betting on Burger King as it embarks on a U.S. comeback. The burger chain is on track to sell about 200 company-operated restaurants to franchisees by the end of the year as part of a broader refranchising initiative, and buyers like Kline will be critical to the plan. Since late 2022, Burger King has embarked on a turnaround strategy focused on revamping its marketing, improving food quality and renovating restaurants. The comeback has already started to pay off; Burger King recently overtook Wendy’s as the number two burger chain in the U.S., based on system sales.

Home & Road

Leslie’s Files Chapter 11, Lenders Set to Take Control in Major Restructuring

Leslie’s, the Phoenix-based pool and spa retailer, filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas under a prearranged restructuring that would give its lenders majority ownership. Under a restructuring support agreement backed by more than 80% of its lenders, the company expects to eliminate about $685 million, or roughly 90%, of its funded debt. It secured commitments for $90 million in new debtor-in-possession financing and $60 million in equity financing, and is seeking approval for a separate $225 million asset-based DIP facility. Leslie’s announced another 76 store closures from a base of more than 900 locations and is targeting emergence in early 2027.

CarMax Reports Second Quarter Fiscal 2027 Results

CarMax reported second-quarter fiscal 2027 net revenues up 19.5% to $7.9 billion, with net earnings up 73.3% to $165.3 million, or $1.16 per diluted share versus $0.64 a year ago. Retail used unit sales rose 13.8% and comparable store used unit sales rose 13.0%, while gross profit per retail used unit fell $111 to $2,105 as pricing actions continued. CarMax Auto Finance income rose 32.1% to $135.6 million, and SG&A per unit improved 8.8% to $1,621. The company plans to resume share repurchases in the third fiscal quarter and will host a strategic update on November 3.

Bassett profits climb as sales rise, tariff refunds boost margins

Bassett Furniture more than doubled fiscal third-quarter net income to $2.1 million, or 24 cents per diluted share, from $801,000, or 9 cents, a year earlier. Consolidated sales rose 3.4% to $82.8 million for the quarter ended Aug. 29, with wholesale sales up 5.7% and retail sales up 4.5%. Gross margin rose to 57.5% from 56.2%, helped by $2.8 million in tariff refunds from U.S. Customs and Border Protection, of which $1 million was recognized in the quarter and the rest is expected mainly in the fourth quarter. Written retail sales rose 4.4%, and wholesale orders grew 7.9%.

Jewelry & Luxury

Sherwood Family Buys Back Daniel’s Jewelers from Private Equity

The Sherwood family has bought Daniel’s Jewelers back from Palladium Equity Partners, which had held a majority stake since 2014. The family partnered on the deal with Tejas Shah, CEO of AJS Creations, whose portfolio includes Grown Brilliance, Clean Origin, Charles & Colvard and Jewlr.com; terms were not disclosed. Third-generation leader David Sherwood remains CEO, and the Culver City, California-based chain keeps its name and leadership structure. Daniel’s has grown to more than 100 locations and ranked No. 12 on National Jeweler’s 2026 Top 50 Specialty Jewelers list. The new ownership plans to invest in the chain’s stores, digital business, merchandise programs and customer experience.

Racehorse market breaks records riding high on tax breaks, stock market gains

Kentucky’s Keeneland September Yearling Sale, the world’s largest thoroughbred auction, grossed a record $536.7 million, topping last year’s high by about $5 million, as 70 yearlings sold for at least $1 million, up from 56, and the average price rose nearly 7% to $187,933. Much of the demand is credited to last year’s One Big Beautiful Bill Act, which permanently reinstated 100% bonus depreciation, letting owners write off the full cost of a racehorse, along with related assets such as barns and equipment, in the first year of ownership. Keeneland CEO Shannon Arvin also pointed to higher purses across racing jurisdictions and said concerns that the Gulf conflict would keep Middle Eastern buyers away did not materialize, with roughly a quarter of yearlings going to international buyers from Qatar, Saudi Arabia, the United Arab Emirates and Libya. The top lot, a dark bay Into Mischief colt, sold for $3.7 million, while the biggest buyer, a newly formed group of four partnerships and owners, spent $16.2 million on 20 horses.

Sporting Goods & Leisure

Nike extends turnaround timeline amid more layoffs, sales declines

Nike unveiled a restructuring plan called Pace alongside its first-quarter results, consolidating its geographic regions into three: the Americas, APGC (Asia Pacific and Greater China) and EMEA. The plan will lead to an unspecified number of layoffs next year, and Nike is also investing in its supply chain and opening a campus in Bengaluru, India. Revenue fell 4% to $11.2 billion, with Converse down 28% and Greater China down 22%, while North America grew 2%. Nike guided to a high-single-digit revenue decline for the fiscal year and said it must pull back on retro product because Jordan is oversupplied.

Tactacam Announces Sale to GTCR

Private equity firm GTCR has acquired Tactacam, a maker of cellular-connected trail and security cameras, from Bertram Capital and the company’s founders. Terms were not disclosed. Tactacam, founded in 2013 and based in Billings, Montana, serves more than one million subscribers in the U.S. through its Reveal trail camera line, launched in 2020, and its Defend security line, launched in 2024. GTCR plans to invest in product development and expanded distribution. CEO and co-founder Jeff Peel will continue to lead the company and retain significant ownership alongside co-founder Ben Thorud.

Pradco Outdoor Brands Snaps Up Kent Outdoors

Pradco Outdoor Brands, the hunting and fishing company behind Moultrie and Yum, has acquired Kent Outdoors, owner of a portfolio of watersports and marine safety brands. Kent’s brands include HO Sports, Hyperlite, Bote, O’Brien, Connelly, Liquid Force, Aquaglide and FatSac. Kent was previously owned by private equity firm Seawall Capital, and terms were not disclosed. The deal is Pradco’s first investment in watersports and marine safety, and Pradco will support product development and additional brand acquisitions in those categories. Kent’s leadership team is expected to stay, with President CJ Vlahovich leading the business.

Vail Resorts Reports 2026/27 Season Ski Pass Sales Drop Double-Digit in North America

Vail Resorts reported fiscal 2026 net income attributable to the company of $147.5 million, down from $280.0 million a year earlier, after what CEO Rob Katz called one of the most challenging winters in history across the western U.S. Pass product unit sales for the upcoming North American ski season through Sept. 18 fell about 12% from the prior-year period, with days sold down about 10% and sales dollars, including taxes, down about 6%. Vail said the unit declines are concentrated in Destination frequency passes and may reflect delayed purchasing by less committed guests rather than lost demand. For fiscal 2027, the company expects net income attributable to Vail Resorts of between $158 million and $233 million.

Samsonite Group Completes Acquisition of BÉIS

Samsonite Group, owner of the Samsonite, Tumi, Gregory Mountain and American Tourister brands, has completed its acquisition of BÉIS, a Los Angeles-based, digitally native lifestyle and travel brand founded in 2018 by actress and entrepreneur Shay Mitchell. BÉIS develops luggage, bags and travel accessories. Samsonite CEO Kyle Gendreau said the deal advances the group’s lifestyle presence and adds BÉIS’s consumer base and digital capabilities. BÉIS will continue to operate as a standalone brand under President and CEO Adeela Hussain Johnson and its existing management team, with Mitchell remaining head of creative and design.

Technology & Internet

Smart ring maker Oura postpones IPO due to market ‘uncertainty’

Oura has said that it is delaying plans for its public listing on the Nasdaq due to uncertainty in the IPO market. The delay comes despite “strong demand” and a strengthening of the business since the start of the IPO process, the company said in a statement on Tuesday. The company, which makes a smart ring that tracks wearers’ health and sleep, formally launched its IPO plans just last week on Sept. 21. At the time, the company planned to raise up to $2.2 billion with the sale of 50 million shares. “Our mission is to empower people to live healthier, longer, and an IPO is just one step in our journey,” said CEO Tom Hale on Tuesday. “We aim to deliver an extraordinary IPO for our employees and investors and we have the luxury of choosing our moment,” he added. “In the meantime, we will execute against the opportunities ahead.” Oura is profitable, the company said, with revenue expected to grow 90% year over year for the fiscal year 2026.

Finance & Economy

Labor market faltered in September as jobs increased by just 29,000, unemployment rate rose to 4.2%

The Bureau of Labor Statistics reported that nonfarm payrolls rose a seasonally adjusted 29,000 in September, well below the 84,000 economists had expected. The unemployment rate rose to 4.2%, though largely because more people joined the labor force. Prior months were revised down by 60,000 in total: August’s gain was cut to 133,000, and July swung from a gain to a loss of 10,000 jobs. The unemployment rate has stayed in a narrow 4.1% to 4.3% range since March, with 7.1 million people unemployed. Treasury yields fell sharply on the report. For households, slower hiring and downward revisions point to weaker income growth ahead, at a time when spending is already outpacing paychecks. Lower yields could also ease pressure on mortgage and other borrowing costs if they hold.

Fed’s preferred gauge showed core inflation at 3.0% in August, much lighter than expected

The personal consumption expenditures price index rose 3.4% from a year earlier in August, below the 3.7% economists expected. Core PCE, which excludes food and energy, came in at 3.0% against a 3.3% forecast, with energy the main driver of the month’s increase. The softer reading arrived alongside changes to how the Bureau of Economic Analysis calculates several components of the index. Personal spending jumped 0.9%, ahead of forecasts, while personal income rose only 0.2%, half the expected gain. That gap suggests households are stretching to keep spending as prices stay high. Both inflation measures remain well above the Fed’s 2% target, so another rate hike in October or December remains possible. One strategist said the data strengthens the case for skipping October, but noted it predates this month’s surge in diesel prices.

Consumer optimism slides to lowest since 2014 as fears escalate over rising prices and jobs

The Conference Board’s Consumer Confidence Index fell 6.7 points to 81.9 in September, its lowest level since 2014 and well below the forecast of 89. The Present Situation Index, which measures views of current business and labor market conditions, dropped 7.9 points to 109.3. Consumers’ view of current business conditions turned negative for the first time since September 2024. Mentions of prices, especially oil and gas, rose to new highs in survey responses, reflecting September’s surge in fuel costs. The survey period also covered the Fed’s rate hike. The University of Michigan’s final September reading points the same way, with sentiment down 7% to its second-lowest level on record. Falling confidence tends to lead to more cautious spending, particularly on big-ticket purchases.