Apparel & Footwear

Birkenstock Snaps Up Australian Distributor

Birkenstock has inked a new deal to acquire its longstanding distributor in Australia. According to the German footwear company, the acquisition “seeks to ensure a seamless succession” for the two founders of Birkenstock Australia – Marcel and Manuela Goerke. Terms of the deal were not disclosed. Birkenstock noted that the acquisition “aims to ensure a seamless handover process and effective knowledge transfer, enabling a smooth ownership transition while protecting key business relationships and minimizing operational risks.”

Bombas opens first store

Bombas, the direct-to-consumer brand known for comfortable socks and its “buy one, donate one” model, is opening its first retail locations this fall, with stores in New York City, Austin and Boca Raton, Florida. It’s also launching new wholesale partnerships with Target and DSW stores. Until now, the bulk of Bombas’ sales have been via its website, with less than 10 percent generated by wholesale partners including Nordstrom and Dick’s Sporting Goods. The brand is on track to hit $500 million in sales this year, according to chief executive Jason LaRose. Since launching with casual socks in 2013 — and an appearance on Shark Tank by founders Randy Goldberg and David Heath the following year — Bombas has since expanded into T-shirts, underwear and more recently, footwear. Its assortment of slippers and slides now make up the fastest growing segment for the business, generating about a quarter of sales.

Athletic & Sporting Goods

#YES Snowboards Moves to Founder Control as Nidecker Group Transitions Ownership

The Nidecker Group announced that #YES Snowboards will transition to majority ownership of its co-founders Romain De Marchi and JP Solberg in April 2026. The rider-founded brand, established in 2008, will operate as a standalone company under their direction.  David Carrier Porcheron (DCP), the third co-founder, will continue as a brand ambassador.  The Nidecker Group, whose portfolio of brands includes Bataleon, Emerica, éS, Etnies, Jones, Nidecker, Rome and Thirtytwo, originally partnered with #YES founders to launch the brand.  In 2024, #YES merged with Lobster (founded by Eiki and Halldór Helgason) and NOW Bindings (founded by JF Pelchat), expanding its product offerings and reinforcing its rider-driven approach.

Soccer 5 USA Begins Next Chapter Under Wonder Franchises

Soccer 5 USA, the community-driven soccer facility operator founded by the Georgeson family, has been acquired by Wonder Franchises, a growing operator of multi-unit franchise concepts.  In 2008, the Georgeson family moved from Scotland to South Florida. They founded Soccer 5 with a vision to create high-quality, small-sided soccer facilities that would make the game more accessible to all ages and skill levels. After years of building a strong community brand and securing long-term municipal partnerships, the Georgesons determined it was time to partner with a larger group positioned to scale their efforts further. Through this acquisition, the company aims to accelerate municipal expansion, increase its national reach, and solidify the brand in the Southeast.

Cosmetics & Pharmacy

Unilever Sells Kate Somerville Brand to Rare Beauty Brands

Unilever has announced the sale of its Kate Somerville skincare brand to Rare Beauty Brands, marking the latest step in the company’s ongoing portfolio reshaping within its Prestige Beauty division. The Kate Somerville brand — which includes skincare, body care, and a clinic on Melrose Place in Los Angeles — will transfer ownership to Rare Beauty Brands, led by CEO Chris Hobson. The sale follows an 18-month turnaround effort by Unilever Prestige aimed at stabilizing performance and repositioning the brand. The transaction is expected to close in Q4 2025, pending regulatory approvals.

CVS closes deal for 63 Rite Aid stores

CVS has completed a deal to buy 63 Rite Aid and Bartell Drugs stores in Idaho, Oregon, and Washington. As part of the deal, which comes five months after Rite Aid filed for bankruptcy, CVS will also acquire the customer prescription files of 626 locations across 15 states. The agreement was first announced in May, though CVS at that time planned to acquire 64 locations and 625 prescription files. The transfer of assets was approved by a bankruptcy judge later that month. CVS is also bringing on more than 3,500 employees from the defunct chain and has made “targeted investments” in existing CVS locations to meet the needs of new shoppers.

Kenvue Considers Sale or Spin-Off of Skin Health and Beauty Division

Kenvue Inc. is weighing a sale or spin-off of its skin health and beauty unit, which includes Neutrogena, Aveeno, and Clean & Clear, as part of a broader strategic review. Sources familiar with the matter say the review follows a turbulent year marked by leadership changes and investor pressure. The division, despite declining sales, could be valued at US$6–9 billion. Early interest has been reported from potential buyers, though Kenvue is said to be open only to divesting non-core brands for now. The review aims to streamline operations and unlock value as the company faces mounting market and legal challenges.

Discounters & Department Stores

Ross rounds out store openings for the year with 40 new locations

In under two months, discount retailer Ross Stores has opened 40 new stores. The company launched 36 Ross Dress for Less and four DD’s Discounts stores in 17 states in September and October. The openings complete the retailer’s growth plans for fiscal 2025, adding a total of 90 stores in the time period, according to a company press release. The brick-and-mortar expansion brought additional Ross Dress for Less locations to the Midwest and Northeast, with new stores in Michigan, New Jersey, and New York, according to Richard Lietz, executive vice president of property development. DD’s Discounts expanded its footprint in the company’s core markets of California and Texas.

Galeries Lafayette Bows in Mumbai, a Major Step for Retail in India

In a big boost for the luxury market in India, department store Galeries Lafayette has joined with the Aditya Birla Group to open its first flagship store in the country, a 90,000-square-foot unit that is seen as a turning point in Indian retail. “We are very excited,” Nicolas Houzé, executive chairman of Galeries Lafayette, told WWD. “It is not just a new location opening — this is very much a unique event and a feeling; it is a defining moment.” The 130-year-old retailer’s signature luxury department store experience, being brought to India by an Indian conglomerate with a deep understanding of the market, should also help set the stage for success.

Saks Global Q2 revenue slumps, loss widens amid inventory woes

Saks Global Q2 revenue fell more than 13% year over year to $1.6 billion, missing the company’s own expectations, the luxury retailer said. Gross merchandise value edged down to $2 billion from $2.1 billion a year ago. CEO Marc Metrick attributed the softer-than-expected results largely to “inventory challenges” that have continued into Q3. Ending inventories were $1.9 billion, down from $2.1 billion last quarter, according to an emailed press release. Gross margin contracted by 20 basis points to 37.9%, which the company said was due to “higher full-price selling offset by minor shifts in sales mix, seasonal markdowns and promotional costs.” Net loss widened by more than 6% to $288 million.

Emerging Consumer Companies

Mammoth Brands, parent of Harry’s, acquires Coterie

Mammoth Brands — the modern CPG company behind Harry’s, Flamingo, Lume, and Mando — has signed a definitive agreement to acquire Coterie, the rapidly growing premium baby care and diapering brand on a mission to make parents’ lives easier. “Mammoth Brands has a proven track record of scaling online-led brands into omnichannel leaders. We see the tremendous impact Coterie has had on parents’ lives, and believe the opportunity ahead of them is massive,” said Andy Katz-Mayfield, Co-Founder and Co-CEO of Mammoth Brands. “By combining Coterie’s beloved brand and products with Mammoth Brands’ capabilities and infrastructure, we’re partnering to redefine the diaper category and accelerate Coterie’s growth to be the leading modern baby care brand.”

Marble raises $15.5 million Series A to scale access to youth mental health care

Marble, the youth mental health company building the infrastructure layer for a new teen mental health system, today announced it has raised $15.5 million in Series A funding, led by Costanoa with participation from Town Hall Ventures and Khosla Ventures. Marble will use the funding to expand access to critical mental health care in schools across the U.S. and grow its team to accelerate innovation and impact at scale. Founded by Jake Sussman and Dan Ross, former co-founders of Headway, the largest adult mental health provider in the country, Marble partners directly with schools to identify students in need and connect them quickly to licensed therapists. Since launching in New York last year, Marble has facilitated more than 15,000 therapy sessions for kids and families who otherwise wouldn’t have access to care.

Food & Beverage

California becomes first state to ban ultraprocessed foods in schools

California will ban certain ultraprocessed foods from school meals as part of legislation that establishes the first legal definition of the term in the U.S. Gov. Gavin Newsom signed a law defining ultraprocessed foods as items containing at least one additive, or high amounts of saturated fat, sodium, or added sugar. Foods containing sucralose or other sweeteners also qualify as ultraprocessed. The state’s ban only affects the “most concerning ultra-processed foods,” which health officials will define by 2028. Schools then have until 2035 to phase out the restricted items.

Nestlé cutting 16,000 jobs to accelerate turnaround

On October 16, Nestlé said it will cut 16,000 jobs during the next two years as the packaged food giant reduces costs to accelerate a turnaround of its business. The reduction represents about 6% of the company’s 277,000 global workforce. The Nespresso and Hot Pockets maker also increased its cost savings target, aiming to trim 3 billion Swiss francs, or $3.8 billion, in expenses by the end of 2027 from the company’s previous goal of $3.14 billion. The moves by Nestlé indicate that the newly appointed CEO, Philipp Navratil, plans to continue efforts started by his predecessor to right-size the sprawling food and beverage company that has been embroiled by executive turmoil and challenges to its business in recent years.

FreshBrew acquires White Coffee’s licensed brand portfolio

Houston-based FreshBrew, one of the largest private-label coffee and tea roasters in the country, announced the acquisition of White Coffee’s Branded Coffee licensed division, which includes the nation’s largest portfolio of licensed bagged coffee and K-Cup products. “FreshBrew is expanding its capabilities and growing the business,” said Al Ansari, CEO of FreshBrew Group. “Acquiring a respected, family-led company like this presented a rare opportunity to strengthen our position in the coffee industry. Now is the perfect time to join forces, as FreshBrew continues to grow with purpose. This move expands our offerings and diversifies our customer and consumer base.”

Grocery & Restaurants

Apollo Global made another offer to buy Papa John’s, sources say

Apollo Global Management submitted a fresh bid within the last week to take pizza chain Papa John’s International private at $64 per share, according to people familiar with the matter. Reuters reported in June that Apollo and Irth Capital Management submitted a joint offer for the company at just above $60 per share. Multiple activists are also circling the pizza chain, according to sources. Papa John’s has a market value of about $1.6 billion and its stock is up by roughly 18% so far this year.

Jack in the Box selling Del Taco for $115M

Jack in the Box has entered into a definitive agreement to sell Del Taco Holdings to Yadav Enterprises Inc. for $115 million in cash. The deal, which is subject to certain adjustments, is expected to close by January. Jack in the Box acquired Del Taco in March 2022 for approximately $585 million in an all-cash deal. The company first announced its intent to sell Del Taco, which operates more than 550 restaurants, in April. In a statement, CEO Lance Tucker said the divestiture is an important step in returning to simplicity: “We look forward to focusing on our core Jack in the Box brand.” Yadav Enterprises is a major restaurant franchisee with a portfolio that includes nearly 350 restaurants. Its brands include Jack in the Box, Denny’s, El Pollo Loco, Corner Bakery Café, Sizzler, and TGI Friday’s. In 2021, Yadav Enterprises also acquired Taco Cabana from Fiesta Restaurant Group.

Home & Road

Kingsdown gains new strategic investor as Somnigroup takes minority stake

Somnigroup International is again expanding its reach in the mattress sector by taking a “passive minority” stake in mattress maker Kingsdown. Company executives said the investment represents Somnigroup’s “belief in Kingsdown’s heritage, brand and future.” While details of the investment size were not disclosed, Novacap, the private equity firm that has held majority ownership of Kingsdown since 2018, retains its majority stake. “Somnigroup’s investment represents a powerful endorsement of Kingsdown’s Style & Substance brand and our proven ability to scale the artistry and innovation that have defined our company for over 120 years,” said Frank Hood, CEO of Kingsdown. “As a passive investor, Somnigroup’s confidence in Kingsdown underscores the strength of our business model, our leadership team and our growth trajectory.” Hood told Furniture Today that he doesn’t expect industry partners or Kingsdown’s employees to see any changes in how the company is managed and operates on a daily basis.

Kohl’s still looking for a home revival

For the 4th year in a row, Home segment sales declined at Kohl’s for during the first half of the fiscal year. For the six-month period ended Aug. 2, Home sales rang in at $776 million, down 6.3% compared to the same period in 2024, according to the company’s most recent 10-Q quarterly filing with the SEC. Compared to 2021’s first half – that most recent comparable period during which Kohl’s generated positive growth in home – segment volume is off by nearly $470 million. Second quarter Home sales declined 6.9% to $406 million. The segment under-performed against the company’s total sales, which fell 5.1%. First quarter Home sales fell 5.6% to $370 million. Kohl’s approach to the Home business has fluctuated in recent years. Under former CEO Tom Kingsbury, the company chased top-line growth by rolling out new categories and expanding space for impulse items, gifts and home décor. His successor, Ashely Buchanan, announced last March that the company had begun working to regain traction in the legacy home assortment.

Jewelry & Luxury

LVMH pops 12% after posting growth for the first time this year

On October 15th, shares of LVMH popped 12% after the French conglomerate posted growth for the first time this year. In an update after European trading hours on October 14th, LVMH — the world’s biggest luxury conglomerate and one of Europe’s most valuable companies — said organic growth for the third quarter came in at 1% year-on-year, marking a recovery from two consecutive quarters of declines. Revenue for the three months to September came in at 18.3 billion euros ($21.3 billion), falling below the 19.1-billion-euro revenues scooped up in the third quarter of last year, but beating analysts’ expectations.

Giorgio Armani group names longtime executive Giuseppe Marsocci as CEO

Giorgio Armani has appointed deputy managing director Giuseppe Marsocci as chief executive with immediate effect, the Italian fashion house said, confirming media reports. Marsocci, who has been with the company for 23 years and served as global chief commercial officer for the past six years, steps into the role previously held by founder Giorgio Armani, who died in September. Armani kept a tight grip on the fashion empire he set up 50 years ago, but a new structure is emerging for its next phase.

Chalhoub Group Backs Willy Chavarria in Strategic Push for Global Luxury Expansion

The Chalhoub Group, the leading creator and curator of luxury experiences in the Middle East, has announced a strategic investment in Willy Chavarria, the acclaimed New York-based fashion house, celebrated for its bold aesthetic, cultural storytelling, and inclusive vision of modern luxury. The investment—made in partnership with FAE Fashion Ventures—marks a defining moment for both entities, bringing together Chalhoub’s deep retail expertise and Chavarria’s growing influence as one of fashion’s most distinctive voices. For over seventy years, Chalhoub Group has helped shape the luxury landscape of the Middle East through partnerships with more than 400 global brands across fashion, beauty, and lifestyle. Today, its ambitions reach far beyond distribution.

Office & Leisure

Czech billionaire’s Allwyn and OPAP create $18.6 billion lottery powerhouse

European lottery group Allwyn International and Greek gaming firm OPAP (OPAr.AT) will merge in an all-share deal valuing the new company at 16 billion euros ($18.56 billion), they said on Monday, creating one of the world’s biggest lottery operators.  Privately owned Allwyn has been expanding rapidly in recent years, taking over lottery operators in the U.S. and Britain’s National Lottery. The tie-up with OPAP is a step toward a listing in a major centre like London or New York, the companies said.  KKCG, the investment group of Czech billionaire Karel Komarek and main owner of Allwyn, will have 85% of voting rights. Allwyn already owns a 52% controlling stake in OPAP.  Komarek said the deal would create the world’s biggest lottery entertainment company, the second biggest listed gaming group, and one of the biggest companies on the Athens exchange.

SGM completes $301m acquisition of Sunland Park Racetrack & Casino

Strategic Gaming Management (SGM) has officially completed its $301m acquisition of Sunland Park Racetrack & Casino in southern New Mexico, immediately selling the real property to Gaming and Leisure Properties (GLPI) as part of sale-leaseback transaction.  Sunland Park Racetrack & Casino currently offers 738 slot machines and 12 electronic gaming tables across 25,000 sq ft of casino space, as well as a one-mile thoroughbred and quarter-horse racetrack with a 733-seat stadium.

Technology & Internet

Walmart partners with OpenAI for ChatGPT shopping feature

Walmart said on Tuesday it was partnering with OpenAI to enable customers and Sam’s Club members to shop directly within ChatGPT, using the AI chatbot’s Instant Checkout feature. The world’s largest retailer is expanding its use of artificial intelligence as companies across sectors adopt the technology to simplify tasks and cut costs. Walmart has announced AI tools, including generative AI-powered ‘Sparky,’ which is available on its app to assist customers with product suggestions or summarizing product reviews, among other options. The company’s growing investment in AI is also aimed at closing the gap with online behemoth Amazon, which had a head start with its chatbot, Rufus, a Gen AI-powered shopping assistant that answers various shopping queries.

Apple announces new MacBook Pro, iPad Pro and Vision Pro with M5 chip

Apple announced new MacBook Pro, iPad Pro and Vision Pro models on Wednesday with an updated M5 chip that allows them to run faster than their predecessors. The new MacBook Pro models start at $1,599. The 11-inch iPad Pro starts at $999. The latest Apple Vision Pro, which includes a Dual Knit Band, starts at $3,499. The company released the iPhone 17 and Apple Watch Series 11 models in September. Apple’s December quarter is its largest by sales, driven by holiday and Christmas shopping. That is why the company usually updates its bestselling products in the fall. This year, it’s the first full quarter of iPhone 17 sales as well. The new device lineup is powered by Apple’s M5 chip, which the company said has four times the peak compute performance compared with the previous M4.

Finance & Economy

Gold Crosses $4,200—a Week After It Hit $4,000

The gold rally appears to be charging full speed ahead, without any speed bumps in sight. Bullion’s price hit $4,200 on October 15th, a week after it crossed the $4,000 mark, and two days after it first reached $4,100. At press time, gold was trading at $4,200 an ounce, after hitting $4,217 earlier in the day. The yellow metal’s price has risen 58% since the beginning of the year. To put this rally in perspective: Gold first hit $2,100 an ounce in December 2023, which means the price of gold has doubled in less than two years. The new high comes as Bank of America raised its 2026 price forecast for gold to $5,000 per ounce. CIBC Capital Markets has predicted the price will hit $4,500 sometime next year.

U.S. budget deficit edged lower in 2025

The U.S. budget deficit edged lower for 2025 as record-setting tariff collections helped offset what were also unprecedented numbers for payments on the spiraling national debt, the Treasury Department announced on October 16th. In a year marked by a bruising trade war and high financing costs, the federal government managed to escape with a $1.78 trillion shortfall, some $41 billion, or 2.2%, less than in fiscal 2024. While that’s still at the high end historically, the red ink would have been still worse had it not been for a massive surge in customs duties and a September surplus of $198 billion that also set a record for the month.

Tariff costs to companies this year are expected to reach $1.2 trillion, with consumers taking most of the hit, S&P says

President Donald Trump’s tariffs will cost global businesses upward of $1.2 trillion in 2025, with most of the cost being passed onto consumers, according to a new analysis from S&P Global. In a white paper released on October 16th, the firm said its estimate of additional expenses for companies is probably conservative. The price tag comes from information provided by some 15,000 sell-side analysts across 9,000 companies who contribute to S&P and its proprietary research indexes. “The sources of this trillion-dollar squeeze are broad. Tariffs and trade barriers act as taxes on supply chains and divert cash to governments; logistics delays and freight costs compound the effect,” author Daniel Sandberg said in the report. “Collectively, these forces represent a systemic transfer of wealth from corporate profits to workers, suppliers, governments, and infrastructure investors.”