Story of the Week

Kimberly-Clark to Acquire Kenvue in $48.7 Billion Deal to Create Global Health and Wellness Leader

Kimberly-Clark has agreed to acquire Kenvue Inc. in a cash-and-stock transaction valuing the consumer health company at approximately $48.7 billion. The merger combines two major players in personal care and consumer health to form a global powerhouse with a portfolio spanning 10 billion-dollar brands. The transaction, unanimously approved by both boards, will see Kenvue shareholders receive $3.50 in cash and 0.14625 Kimberly-Clark shares for each Kenvue share, representing a total value of $21.01 per share. The combined entity is projected to generate $32 billion in annual revenue and $7 billion in adjusted EBITDA. Kimberly-Clark expects $2.1 billion in annual run-rate synergies, including $1.9 billion in cost savings and $500 million in revenue gains. The deal, expected to close in the second half of 2026 pending approvals, will position Kimberly-Clark shareholders with 54% ownership and Kenvue shareholders with 46%.

Apparel & Footwear

Kontoor Brands’ Q3 revenue jumps 27% on strong Wrangler sales

American clothing company Kontoor Brands has reported revenues of $853 million in the third quarter of 2025, a 27% increase year-over-year, which included a two-point impact from the timing of shipments shifting from the third quarter to the fourth quarter. Adjusted gross margin expanded 80 bps to 45.8 percent, while reported gross margin stood at 41.3 percent. Adjusted operating income rose 14 percent to $122 million, and adjusted earnings per share increased 5 percent to $1.44. The company made a $25 million voluntary term loan repayment and declared a quarterly dividend of $0.53 per share, representing a 2 percent increase, Kontoor Brands said in a press release.

Gildan Q3 net sales hit record $911m on strong Activewear demand

Gildan Activewear has reported record Q3 2025 results, with net sales of $911 million, up 2.2 percent, and adjusted diluted EPS rising 17.6 percent to $1. Activewear sales grew 5.4 percent, driving a record adjusted operating margin of 23.2 percent. CEO Glenn Chamandy highlighted strong execution under the Gildan Sustainable Growth strategy, which is driving financial performance. The company reaffirmed 2025 guidance and expects to close its HanesBrands merger soon.

Inside Out acquires conscious clothing brand The Simple Folk

Global holding company Inside Out LLC has acquired the environmentally friendly US brand The Simple Folk, described as “a significant step forward towards its mission to redefine how business interacts with both people and planet.” Under new CEO Luis Gamardo, The Simple Folk will benefit from Inside Out’s global reach, sustainability-driven innovation, and the expertise of WRAD, Inside Out’s consulting studio, which will work with the team to align growth with the company’s ‘Towards a Thriving Future’ impact framework. Gamardo said: “The Simple Folk has always believed clothing is more than fabric – it’s a reflection of principle and care. Becoming part of Inside Out allows us to scale this vision globally, supported by a collective that shares our values and is dedicated to shaping a thriving future for generations to come.”

Ralph Lauren on a Run in Q2 With 17% Revenue Gain

Ralph Lauren Corp. is riding the momentum it’s built after years of working to elevate its brand position. Revenues jumped 17 percent to $2 billion in the fiscal second quarter, an increase of 14 percent in constant currencies. North American net revenues increased 13 percent, while Europe was up 22 percent, and Asia increased 17 percent. Net profits increased nearly 40 percent to $207.5 million. Patrice Louvet, president and chief executive officer, told WWD that the numbers spoke for themselves — although he was more than happy to speak for them as well. “This broad-based momentum gives us confidence to raise our outlook on both the top line and margin,” Louvet said.

Athletic & Sporting Goods

Bay Club Expands Greater Seattle Campus with Acquisition of Arena Sports

The Bay Club Company is expanding and diversifying its portfolio and Greater Seattle Campus with the acquisition of indoor sports and entertainment company, Arena Sports, which consists of five locations in Mill Creek, Magnuson, SODO, Redmond and Issaquah, including the Magnuson Athletic Club.  The addition of Arena Sports marks a milestone for the Bay Club portfolio as it continues the company’s long-term strategy to develop regional campuses that provide access to a range of activities beyond traditional health and wellness programming, while broadening the aperture on the range of family programming and all-ages recreational activities that Bay Club manages. The move both strengthens Bay Club’s Seattle footprint and allows it to continue offering more access to sports, outdoor recreation and active lifestyle activities for members of all ages.

GSM Outdoors Expands Brand Portfolio With The Addition of Smith’s Products

GSM Outdoors has acquired Smith’s Products, the market leader in the knife and scissor sharpening categories, adding the Arkansas-based manufacturer to its growing portfolio of rugged outdoors brands.  Founded in 1886, Smith’s Products has evolved from a small family-run stone business, mining and selling raw stone, into a well-known supplier of various knife sharpeners and knives.  Headquartered in Irving, Texas, GSM has rapidly grown into a global organization comprised of more than 50 hunting, shooting sports, rugged outdoors, and fishing brands all rooted in a long-standing tradition of providing customers with the best products, accessories, and app-based subscription services on the market.

Exos Acquires Infinite Athlete, Player Safety Experts Used by NFL

Training and wellness company Exos, having acquired Infinite Athlete and its subsidiary, Biocore, is betting that the tech and expertise used by the NFL to improve player performance can scale to maximize corporate workforce health, too.  The NFL has leaned on Biocore’s engineering research team to study everything from helmets to shoes. Biocore founder Jeff Crandall joined the NFL’s head, neck, and spine engineering subcommittee in 2015. On gamedays, Infinite Athlete’s FusionFeed technology helps the league sync video and other data inputs as part of the NFL operations team’s back-end system. Before acquiring Biocore in 2023, the company was known as Tempus Ex Machina, with funding from high-profile investors including Andreessen Horowitz and Endeavor.

Cosmetics & Pharmacy

Ulta Beauty opens in the Middle East to accelerate its ‘global growth journey’

Ulta Beauty has expanded its global footprint with the opening of its first store in the Middle East.  Global expansion is a key aim for Ulta Beauty, with the company acquiring leading British beauty retailer Space NK earlier this year.  The first Middle East store is located at The Avenues – the largest shopping mall in Kuwait – the store launch follows a partnership between the US beauty retailer and international retail franchise operator Alshaya Group. The 15,000sqft space will stock more than 300 beauty and wellness brands. Following the Kuwait location opening on 7 November, the partnership will see Ulta Beauty and Alshaya Group open doors in the UAE at the Mall of the Emirates and Dubai Mall in early 2026. Ulta Beauty is also set to debut in Saudi Arabia next year with a location in its Red Sea Mall, with plans in place to continue growth across the Middle East as part of the partnership.

e.l.f. Beauty Reports 14% Q2 Sales Growth, Maintains Double-Digit Momentum

e.l.f. Beauty reported Q2 fiscal 2026 net sales of US$343.9 million, a 14% year-over-year increase, driven by growth across both retail and e-commerce channels in the US and internationally. The company achieved 140 basis points of market share gains for its flagship e.l.f. brand and a record launch of rhode in Sephora North America. Gross margin declined to 69% due to higher tariff costs, while adjusted EBITDA fell 4% to US$66.2 million. Adjusted net income was US$40.7 million, or US$0.68 per diluted share. For the six-month period ended September 30, 2025, sales rose 12% to US$697.7 million, with adjusted EBITDA up 4% to US$153.3 million.

Coty Delivers In-Line Q1 FY26 Results, Expects Return to Growth in Second Half

Coty reported first-quarter fiscal 2026 net revenue of US$1.58 billion, down 6% on a reported basis and 8% like-for-like, in line with expectations. The company stated that Q2 sales are tracking toward the upper end of guidance and reaffirmed its expectations for a return to sales and profit growth in the second half of FY26. Prestige revenue, which accounted for 68% of total sales, declined by 4%, while Consumer Beauty fell by 9%. Adjusted operating income was US$240.5 million, with an adjusted EBITDA of US$296.1 million and an 18.8% margin. Coty cited steady performance in prestige fragrances, with BOSS Bottled Beyond emerging as one of the top male launches of the season and double-digit growth in ultra-premium fragrances.

Discounters & Department Stores

Saks Global approaches merger anniversary with a whirlwind of executive changes

As its takeover of Neiman Marcus Group approaches its first anniversary, a leadership shakeup continues at Saks Global. The company was formed following the December acquisition of Saks Fifth Avenue’s rival for $2.7 billion. A series of longtime executives have since marched out the door. Most recently, Chief Operating Officer Rob Brooks has left, and the responsibilities of his position are being incorporated into other roles. Chief Transformation Officer Bill Bine will also leave, with much of the merger’s integration work having been accomplished; otherwise, his duties will be assumed by others. Other executives who left Saks Global this year include John Antonini, senior vice president of accelerated store growth, a newly created role; longtime stores veteran Larry Bruce, who spent years at both Saks Fifth Avenue and Neiman Marcus; merchant James Newell, who joined Bloomingdale’s earlier this month; and merchant Will Cooper, who had spent two decades at Saks Fifth Avenue.

Walmart to provide new AI capabilities to suppliers

Participants in the Walmart Scintilla supplier platform will have access to several new artificial intelligence tools in the coming months. Walmart introduced the Scintilla platform, which provides a unified view of category performance and consumer trends at scale, under the name Luminate in 2021. It was then updated to Scintilla earlier in 2025. Following the recent addition of 15 new metrics to the Scintilla Digital Landscapes offering, which leverages anonymized, aggregated insights from Walmart’s e-commerce site and app to help users better understand the customer journey, the company’s ‘Walmart Data Ventures’ subsidiary plans to release several new AI features to Scintilla participants.

Emerging Consumer Companies

Upway, refurbished e-bike brand, raises $60 million

Upway, a leader in professionally refurbished e-bikes, announced the closing of its $60 million Series C funding round, led by A.P. Moller with participation from U.S.-based Galvanize and Ora Global, and continued support from Sequoia Capital and other global investors. This new round brings total funding to over $125 million since its founding in 2021 and marks a new stage in Upway’s mission: giving e-bikes a second life and riders a first choice. With this funding, Upway is doubling down on U.S. growth, expanding operations, creating jobs, and building the backbone for circular mobility. Founded in 2021 and headquartered in Paris, Upway operates in nine markets, including France, Germany, the Netherlands, Belgium, Switzerland, Austria, Italy, Spain, and the United States.

Oddball, maker of plant-based jelly snacks, raises $2 million

Oddball, a line of plant-based jelly snacks formulated with agar, has raised $2 million in a seed round led by Springdale Ventures. The product, which comes in grape, pink grapefruit, double berry and mango varieties, also offers a full serving of fruit. Sophia Cheng, founder and chief executive officer of Oddball, said the funding will be used for retail expansion, product innovation and the brand’s launch into three regions of Whole Foods Market in November. Since launching, the company has been focused on retail and ecommerce. The focus to expand into more retailers comes at a time when Cheng feels the market is “going back to stores.”

Fit Collective raises €3.4 Million for fashion technology platform

London-based fashion technology startup Fit Collective has raised €3.4 million in new funding, a round reported to be the largest ever secured by a solo female founder at the pre-seed stage in the UK. The investment will support the company’s expansion as it works to address one of fashion’s most persistent challenges: ensuring clothing fits customers accurately the first time. Fit Collective was founded by Phoebe Gormley, who previously launched Gormley & Gamble, known as the first women-only tailoring business on Savile Row. Drawing from her experience in bespoke fit, Gormley created Fit Collective to help brands reduce sizing inconsistencies that contribute to high return rates, unsold inventory, and lost revenue.

Caulipower acquired by Urban Farmer to create vertically integrated frozen foods platform

Urban Farmer, a portfolio company of Paine Schwartz Partners and a fully integrated producer of specialty dough products for leading brands and major retailers across North America, announced the transformative acquisition of Caulipower, the #1 better-for-you, gluten-free, and cauliflower crust frozen pizza brand in America. Caulipower will continue to operate under its established brand, supported by Urban Farmer’s leading manufacturing expertise to accelerate growth and innovation.

Cymbiotika Raises $25M for Bioavailable Supplements

Cymbiotika has a winning formula. The premium supplements brand raised $25M in funding, adding notable investors across sports and music industries. Crafting clinically tested supplements in liquid and liposomal gel form, Cymbiotika emphasizes bioavailable formulas better metabolized by the human body than pills or powder. From Irish sea moss to magnesium complex, its single-serve packets create daily rituals for cognitive performance, energy, beauty, and more. Selling 100M+ to date, a new distribution deal with Target puts the brand on track for $150M+ in 2025 sales. Along with ingredient transparency and precision dosing, consumers are seeking out novel form factors that merge functional with practical.

Food & Beverage

Fruitist Closes $150 Million in Funding

Fruitist, the global superfruit brand inspiring the world to snack healthier, today announced it has closed $150 million in equity financing led by a vehicle managed by J.P. Morgan Asset Management, alongside other new and existing investors. The new capital will fuel Fruitist’s global expansion and help meet soaring consumer demand for healthier, fresher alternatives to processed snacks. Through partnerships with star quarterback Caleb Williams, USC Athletics, and D.C. United, Fruitist is extending beyond retail shelves, promoting healthier snacking to athletes, students, and communities. The brand continues its footprint and is now distributed in stores such as Costco, Giant, Publix, ShopRite, Sprouts, Trader Joe’s, Wakefern, Walmart, Whole Foods, and more. Formerly known as Agrovision, Fruitist has evolved from an agriculture-first enterprise into a global consumer brand backed by institutional investors and a world-class leadership team.

Molson Coors eyes M&A to build out beyond beer portfolio

Molson Coors is considering new acquisitions to further expand its portfolio beyond beer and fend off a decline in alcohol sales. Newly appointed CEO Rahul Goyal said in an earnings call on Nov 4th that the company is looking to fill gaps within its portfolio through new acquisitions, adding that the company will more likely look for opportunities in the “beyond the beer space.” Molson Coors has sought to expand into categories such as energy drinks and nonalcoholic cocktails to insulate itself from a downturn in beer sales. The company invested in nonalcoholic carbonated mixer Fever-Tree and upped its stake in energy drink Zoa.

Utz Brands eyes ‘big opportunity’ in California with acquisition

Utz Brands is acquiring logistics infrastructure assets that will enable the snack maker to expand its presence in California, the country’s largest market for chips, pretzels, and other salty snacks. The Pennsylvania-based company is buying direct store delivery routes across California from Insignia International for an undisclosed amount. Utz said it views the Golden State as a “key growth geography” with $4.1 billion in retail sales of salty snacks, accounting for approximately 10% of the category in the U.S. Howard Friedman, Utz’s CEO, told analysts last week that the company has a market share of just under 2% in California, with retail sales totaling approximately $79 million.

Grocery & Restaurants

Starbucks to form joint venture with Boyu Capital to run China business

Starbucks last week announced it is forming a joint venture with Boyu Capital to operate the company’s locations in China. Under the terms of the deal, valued at $4 billion, Boyu, an alternative asset management firm, will hold up to a 60% interest in the joint venture. Starbucks will hold a 40% stake and maintain its ability to license the brand and intellectual property to the joint venture. The announcement comes after the coffee giant conducted a months-long review of options that included strategic partnerships. Starbucks values its China business at more than $13 billion, the company said. The valuation includes the sale of the controlling stake in the joint venture, combined with the value of both its retained interest and the ongoing licensing fees that will be paid to the company in the future.

Yum Brands to review strategic options for Pizza Hut, including a sale

Yum Brands on Tuesday announced it will explore strategic options for Pizza Hut. “The Pizza Hut team has been working hard to address business and category challenges; however, Pizza Hut’s performance indicates the need to take additional action to help the brand realize its full value, which may be better executed outside of Yum! Brands,” Yum CEO Chris Turner said in a statement. The company has not set a deadline or definitive timetable for the review process. While Yum did not specify what the review’s “range of strategic options” include, potential outcomes could be an outright divestiture, a joint venture or the sale of a stake in the chain. “We do think the business can be positioned for even greater success in the future,” Turner said on the company’s earnings conference call. “In some markets, there may be a multi-year effort that is required to reposition it as the leading pizza brand in those markets, and it’s possible that those efforts may best be done under a different structure, potentially under outside ownership.”

Denny’s acquired by group of investors for $620M

Denny’s has agreed to be acquired by New York-based PE firm TriArtisan Capital Advisors, Treville Capital Group, and Yadav Enterprises, in an all-cash deal valued at approximately $620 million. The purchase price represents a 52.1% premium to Denny’s’ closing stock price on Monday, November 3. TriArtisan’s investments include P.F. Chang’s, while Yadav Enterprises is one of Denny’s largest franchisees (and also just acquired the Del Taco brand from Jack in the Box). “We are pleased to enter this transaction, which delivers significant, near-term and certain cash value to our stockholders,” Denny’s CEO Kelli Valade said in a statement, adding that the board conducted a review after receiving interest from TriArtisan. The company reached out to more than 40 potential buyers, Valade added. “The board is confident the transaction maximizes value and has determined it is fair to and in the best interests of stockholders and represents the best path forward for the company.”

Home & Road

Arhaus sets Q3 record for net revenues

Top 100 retailer Arhaus posted a record third quarter for net revenues, which stood out among several strong metrics. For the three months ended Sept. 30, the Boston Heights, Ohio-based luxury retailer tallied $344.6 million in net revenue, up 8.0% vs. $319.13 million over the same three months in 2024. Net income for the quarter totaled $12.22 million, or nine cents per diluted share, up 23.1% compared with $9.92 million, or 7 cents per diluted share in last year’s third quarter. Through three quarters of FY2025, Arhaus has amassed $1.014 billion in net revenue, which is ahead of last year’s $924.1 million by 9.8%. Net income sat at $52.17 million, or 37 cents per diluted share, up 10.4% on 2024’s $47.26 million, or 34 cents per diluted share.

Somnigroup Q3 sales soar 63% as Mattress Firm integration drives growth

Somnigroup International posted strong third-quarter results as the company began to fully realize the impact of its Mattress Firm acquisition earlier this year, driving a sharp increase in sales and profits across its business. The company reported total net sales of $2.12 billion for the quarter ended Sept. 30, up 63.3% from $1.3 billion in the prior-year quarter, reflecting the addition of Mattress Firm‘s revenue of $1.07 billion. The quarterly results buck the trend of other publicly traded sleep products companies that have reported flat to declining sales. The company’s consolidated net income for the quarter climbed 36.5% to $177.4 million, compared with $130 million in the third quarter of 2024. Adjusted earnings per share increased 15.9% to $0.95 compared to $0.82 in the prior-year quarter.

Sleep Number swings to deeper loss, sales down double digits in Q3

Vertically integrated sleep brand Sleep Number reported a net loss of $39.8 million in its third quarter, a swing from a net loss of $3.1 million in the same quarter last year. Net sales for the quarter ended Sept. 27 dropped 19.6% to $342.9 million compared with net sales of $326.6 million in the same quarter last year. The company said it had amended its bank agreement through 2027 to support its ongoing turnaround strategy. Linda Findley, president and CEO, said the financing agreement, along with cost reductions this year, will allow Sleep Number to invest in growth in the new year. “To drive consumer demand, we are making strategic shifts in three key areas: product, brand positioning, and distribution,” she said. Findley joined Sleep Number earlier this year.

Jewelry & Luxury

Germany’s Hugo Boss lifts profitability despite 1% dip in Q3 sales

German fashion house Hugo Boss has reported a 1 percent year-over-year (YoY) decline in sales in the third quarter of 2025 on a currency-adjusted basis, yet delivered improved profitability driven by efficiency gains, stringent cost control, and optimized sourcing strategies. The company’s gross margin rose 100 bps to 61.2 percent, reflecting lower freight costs and sourcing efficiencies, while operating expenses fell 3 percent due to stringent cost management. Operating profit (EBIT) remained broadly stable at €95 million (~$109.25 million), translating to a 9.6 percent EBIT margin, up 30 basis points YoY. Earnings per share (EPS) increased 7 percent to €0.85, supported by stronger financial results and lower net expenses. Free cash flow rose 63 percent, driven by improved CapEx efficiency, Hugo Boss said in a press release.

Stuller Promotes Danny Clark to CEO

Danny Clark, the current president of fine jewelry company Stuller, has been promoted to CEO of the Lafayette, LA–based jewelry manufacturer, effective January 1, 2026. He will succeed Matthew Stuller, who founded the jewelry giant in 1970 and has (mostly) served as its CEO since its inception. Matthew Stuller will become the company’s executive chairman, where he “will remain deeply involved in shaping Stuller’s strategy,” a statement said. The company also announced that Belit Myers, who has worked at Stuller for two decades and currently serves as its chief operating officer, will assume the additional role of president when Clark becomes CEO.

Capri’s Q2 Revenues Slip, Company Gets Ready for Life Post-Versace

With Versace headed for the exit — through a $1.4 billion sale to Prada — Capri Holdings is turning toward its own future with Michael Kors and Jimmy Choo. And Chief Executive Officer John Idol said the company had more traction in the fiscal second quarter than it did at the beginning of the year. Revenue for the quarter ended Sept. 27 fell 2.5 percent to $856 million. In constant currencies, sales fell 4.2 percent — an improvement from the 7.7 percent logged in the first quarter. Adjusted operating income totaled $20 million, for an operating margin of 2.3 percent, down from 4.2 percent a year earlier. Net losses tallied $34 million.

Coach Powers Tapestry to a 16 Percent Q1 Sales Gain

Tapestry Inc. wanted to supersize its business through acquisition — but staying focused and letting Coach drive results is working out just fine. Excluding the recently sold Stuart Weitzman business, Tapestry’s fiscal first-quarter sales shot up 16 percent to $1.7 billion. That included a 22 percent jump at Coach, to $1.4 billion. Kate Spade, where the turnaround is still a work in progress, slipped 8 percent to $260.2 million. “Fundamentally, what’s driving our growth is new customer acquisition, and this young consumer acquisition is the fuel for our business,” said Joanne Crevoiserat, chief executive officer of Tapestry, in an interview with WWD. The company had sought to build sales by acquiring Michael Kors’ parent, Capri Holdings, but was tripped up by antitrust concerns late last year. Even so, Tapestry is going from strength to strength.

Office & Leisure

Vici Properties Finalizes $1.16 Billion Acquisition of Golden Entertainment Casino Assets

Vici Properties has finalized a major acquisition deal valued at $1.16 billion, marking its official purchase of seven Nevada-based Golden Entertainment casino properties. The transaction, structured as a sale-leaseback agreement, represents a pivotal move for both companies—strengthening Vici’s footprint in Nevada’s gaming market while guiding Golden Entertainment toward privatization.  Under the agreement, Vici will assume full ownership of the land and real estate assets of all seven properties, while Golden Entertainment transitions to a privately held company. A new entity—owned by Golden’s Chairman and CEO, Blake L. Sartini—will take over the company’s operational business. The deal, valued at approximately $30 per share, positions Golden to concentrate on its Nevada-based operations and to unlock real estate value through its collaboration with Vici.

Markquart RV Reports Appleton Camping Center Acquisition

Markquart RV, one of Wisconsin’s most trusted names in RV sales and service, has announced the acquisition of Appleton Camping Center, marking its expansion into the Fox Valley and its tenth location across Wisconsin and Minnesota. The newly acquired store now operates as Markquart RV – Appleton, further strengthening the company’s regional presence and commitment to long-term growth.  The dealership joins an established network of locations across the region, offering customers a consistent, trusted experience whether they shop in Eau Claire, Madison, Columbus, Burlington, Ramsey, or Appleton.

Wellable Acquires Wellness Break Platform Bright Breaks

Wellable strengthens its award-winning leadership in employee wellness, rewards, and recognition with the acquisition of Bright Breaks. An innovator in preventing burnout and boosting productivity, Bright Breaks integrates short, interactive breaks into employees’ calendars to help busy teams recharge, refocus, and perform at their best.  The acquisition expands Wellable’s capabilities as an all-in-one employee well-being and experience platform by including several daily live breaks and a robust on-demand library. These 7-minute breaks invite employees to meditate, stretch, dance, strength train, practice gratitude, and learn tips around finances, meal preparation, and more. A smart scheduler integrates with Outlook and Google calendars to automatically find time for breaks, helping employees stay engaged and prevent burnout without disrupting their workday.  Wellable is a global and award-winning employee wellness, rewards, and recognition company with offices in Boston, San Diego, and Washington, D.C. dedicated to unlocking individual potential and redefining the future of work.

Feeders Pet Supply Announces Agreement to Acquire Pet Food Centers

Feeders Pet Supply announced it has entered into a definitive agreement to acquire Evansville, IN-based Pet Food Centers. This acquisition further adds to Feeders Pet Supply’s growth and expansion. With this announcement, Feeders Pet Supply will take over four stores in the Evansville area, along with one store in Clarksville, TN.  Houchens Industries, the parent company of Feeders Pet Supply, is the second-largest ESOP in the US and will make all full-time associates at Pet Food Centers employee owners.  This marks the sixth acquisition for Feeders Pet Supply in the last nine years. Previous acquisitions are Chow Hound Pet Supplies, IncrediPet Store, Phydeaux, Ashland Pet, and Soldan’s Pet Supplies.  Founded in 1959 in Louisville, Ky., Feeders Pet Supply is one of the top 25 Pet Retailers in North America.

Technology & Internet

Pinterest shares plummet 20% on earnings miss, weak forecast

Pinterest shares tanked nearly 20% on Tuesday after the company reported third-quarter financial results that missed on earnings per share and provided weak guidance. Pinterest’s third-quarter sales grew 17% year over year while net income was $92.11 million, up 201% from $30.56 million a year ago during the same period. The company said fourth-quarter revenue will come in between $1.31 billion and $1.34 billion. The midpoint of the revenue outlook, $1.325 billion, trailed Wall Street’s projections of $1.34 billion. Pinterest said it recorded 600 million global monthly active users in the third quarter, ahead of the 590 million that StreetAccount was projecting. “Our investments in AI and product innovation are paying off,” Pinterest CEO Bill Ready said in a statement. “We’ve become a leader in visual search and have effectively turned our platform into an AI-powered shopping assistant for 600 million consumers.” Pinterest finance chief Julia Donnelly said during an earnings call that the company experienced some “pockets of moderating ad spend” in the U.S. and Canada regions during the third quarter. Donnelly attributed the sales moderation to unspecified “larger U.S. retailers” that are dealing with tariff-related issues putting pressure on their margins. Regarding the company’s fourth-quarter guidance, Donnelly said, “We see these broader trends and market uncertainty continuing with the addition of a new tariff in Q4 impacting the home furnishing category.”

Finance & Economy

Consumer sentiment nears lowest level ever as worries build over shutdown

Concerns over the government shutdown intensified in early November, causing consumer sentiment to drop to its lowest in more than three years and just off its worst level ever, according to a University of Michigan survey released on November 7th. The university’s monthly Index of Consumer Sentiment posted a reading of 50.3 for the month, indicating a decline of 6.2% on the month and about 30% from a year ago. Economists surveyed by Dow Jones had been looking for 53.0 after October’s 53.6. Sentiment was this low most recently in June 2022, when inflation was near its highest in 40 years. November’s reading was the second lowest since 1978. Concerns about the ongoing impasse in Washington topped consumers’ fears, outweighing a boost in sentiment from new record highs in stock prices, said survey Director Joanne Hsu.

Private payrolls rose 42,000 in October, more than expected and countering labor market fears

Payroll growth at private companies turned slightly stronger than expected in October, providing some hope that the labor market isn’t in danger of sinking, ADP reported. Companies added 42,000 jobs for the month, following a decline of 29,000 in September and topping the Dow Jones consensus estimate for a gain of 22,000. A revision for September showed 3,000 fewer jobs lost, the payroll processing firm said. A gain of 47,000 in the trade, transportation, and utilities grouping helped offset losses in multiple other categories. Education and health services also showed growth of 26,000, while financial activities added 11,000.

Job openings in October slumped to the lowest level since February 2021

Employment opportunities reached their lowest level in more than 4.5 years as October drew to a close and the government shutdown dragged on, according to data from jobs site Indeed. The firm’s Job Postings Index fell to 101.9 as of Oct. 24, the most recent point for which data is available. That’s the lowest since early February 2021 for a measure that uses February 2020 as a baseline value of 100. The level represents a 0.5% decline from the beginning of the month and a roughly 3.5% tumble from mid-August, the latest point from which Bureau of Labor Statistics data is available. Under normal conditions, the BLS would have reported its monthly Job Openings and Labor Turnover Survey on Tuesday (Nov. 4th), a measure that Federal Reserve officials closely watch for indications of slack in the jobs market. With the shutdown on the verge of becoming the longest in history, economists and policymakers are left to examine alternative data for big-picture economic indicators.

Bessent says U.S. has ‘lots’ of options to use on tariffs if it loses Supreme Court case

The Supreme Court is set to hear arguments on whether Trump exceeded his authority under the International Emergency Economic Powers Act to enact sweeping duties on U.S. trading partners. At stake is the leeway presidents have to wield over trade measures as a tool of economic policy. Bessent expressed confidence in a CNBC “Squawk Box” interview that the administration will prevail, but has additional outlets it can use in case the decision goes the other way. “There are lots of other authorities that can be used, but IEEPA is by far the cleanest, and it gives the U.S. and the president the most negotiating authority,” he said. “The others are more cumbersome, but they can be effective.” Specifically, Bessent cited Section 232 of the Trade Expansion Act of 1962, which provides justification on grounds of national security, as well as Section 301 of the Trade Act of 1974, which regulates unfair trading practices.