Apparel & Footwear

Abercrombie & Fitch Q3 tops estimates, fueled by strong growth at Hollister

Abercrombie & Fitch Co. reported a better-than-expected third quarter as surging sales for its Hollister brand offset continuing softening sales at its namesake division. Net income totaled $113 million, or $2.36 per share, for the quarter ended Nov. 2, compared with $131.98 million, or $2.50 per share, a year earlier. Analysts had expected earnings of $2.16 per share. Net sales rose 6.9% to $1.29 billion from $1.21 billion a year earlier, topping estimates of $1.28 billion. Comparable sales were up 3%. By division, sales at Hollister surged 16% to $673.27 million, and comparable sales rose 15%. Sales at Abercrombie fell 2% to $617.35 million, and comparable sales plunged 7%.

Guess’ revenue up 7% to $791.4 million in Q3

American clothing company Guess’ total net revenue for the third quarter of fiscal 2026 increased 7 percent to $791.4 million from $738.5 million in the same prior-year quarter. In constant currency, net revenue increased by 5 percent. Europe revenues increased 10 percent in US dollars and 6 percent in constant currency. Retail comparable sales (including e-commerce) increased 7 percent in US dollars and 2 percent in constant currency. The inclusion of the company’s e-commerce sales positively impacted the retail comparable sales percentage by 1 percent in both US dollars and constant currency. Americas’ retail revenues decreased 2 percent in both US dollars and constant currency. Retail comparable sales (including e-commerce) decreased 3 percent in both US dollars and constant currency.

RG Barry Brands Set to Acquire Licenses for Clarks, Timberland Slippers

Clarks and Timberland slippers have a new home. On Nov 28th, RG Barry Brands announced a new agreement in principle to acquire substantially all of Green Market Services Co. Inc.’s assets. While terms of the deal were not disclosed, the proposed transaction includes GMS’ licensed slipper businesses for Clarks, Timberland, and their existing private label business, as well as the GMS team that supports those brands. According to RG Barry, the Clarks and Timberland slipper collections will be showcased as part of RGB’s brand portfolio during FFANY, beginning Dec. 2, at its NYC showroom located at 8 West 40th Street. Other brands available at the showroom will include Dearfoams, Baggallini, and Columbus Product Group.

Puma shares pop 18% after report China’s Anta Sports is looking to buy the sportswear giant

On Nov 27th, Puma shares finished 18.9% higher following a report that China’s Anta Sports is among a number of firms looking to buy the struggling German athletic brand. Puma is in the middle of what it calls a “reset,” as sales growth has dramatically dropped after a revenue bump during Covid-19. Post-pandemic, however, the brand has wrestled with fading customer resonance and resulting high inventories. Earlier this month, shares hit their lowest level in more than 10 years, while year-to-date losses exceeded 50% amid an increasingly competitive sportswear market and an unfavorable tariff environment.

Athletic & Sporting Goods

Dick’s Sporting Goods to shutter some Foot Locker stores to protect profits

Dick’s Sporting Goods is planning to close a slew of Foot Locker stores now that its acquisition of the sneaker company is complete, the company said Tuesday when announcing fiscal third-quarter earnings.  It’s unclear how many stores Dick’s plans to shutter, but the closures are part of a larger restructuring it’s implementing so Foot Locker isn’t a drag on its profits come fiscal 2026, Dick’s Executive Chairman Ed Stack told CNBC’s Courtney Reagan.  The company declined to say how many stores would be impacted and whether the restructuring will include layoffs.  As a result, Foot Locker’s comparable sales are expected to be down in the mid- to high-single digits in the current quarter with margins projected to fall between 10 and 15 percentage points.  Foot Locker has about 2,400 stores globally and has underperformed for years. Its consumer tends to skew lower income than Dick’s’ and hasn’t held up as well in a softening economy.

Under Armour Strengthens Core Business Despite Curry Partnership Ending

The basketball division of Under Armour, which includes the Curry brand, is expected to generate around $100 million – $120 million in revenue during the current fiscal year. This amounts to roughly 10% of Under Armour’s footwear sales and 2% of the company’s overall revenues. The company further stated that Under Armour’s financial performance and profitability are unlikely to be “significantly affected” by the split.  The Curry 13, Stephen Curry’s last signature shoe, will be released in February of next year, with more colors and apparel collaborations possible until October 2026, marking the conclusion of the collaboration that started in 2013.

Cosmetics & Pharmacy

Estée Lauder Explores Sale of Dr.Jart+ Amid Broader Portfolio Divestment

The Estée Lauder Companies is considering selling its K-beauty brand Dr.Jart+ as part of a wider effort to streamline its portfolio, according to sources. The potential sale comes as Estée Lauder continues evaluating divestitures across its makeup and skincare portfolio, including reported plans to offload Too Faced and Smashbox. Dr.Jart+, acquired in full in 2019, has experienced a significant revenue contraction: sources say the brand is expected to generate around $150 million in 2025, well below the $500 million in net sales anticipated at the time of acquisition. The review follows continued scrutiny of Estée Lauder’s brand mix and its shift toward rebuilding margins and simplifying operations after several years of uneven category performance.

Waldencast Reports Mixed Q2–Q3 Performance as Obagi Accelerates and Milk Makeup Softens

Waldencast has released its Q2 2025 financial results and a Q3 trading update, reporting contrasting brand performance across Obagi Medical and Milk Makeup while advancing several restructuring and strategic initiatives. Waldencast posted Q2 2025 net revenue of $66.8 million, up 5.6% year on year, with an adjusted EBITDA margin of 5%. Q3 results showed continued momentum at Obagi Medical, with double-digit revenue growth led by e-commerce and international markets, supported by improved in-stock levels and distribution rationalisation. Obagi also advanced its move into medical aesthetics, completing the Novaestiq acquisition, securing U.S. rights to Saypha® fillers, and obtaining FDA approval for Obagi Saypha MagIQ Hyaluronic Acid Gel. The company further strengthened its balance sheet through the $82.5 million sale of the Obagi Japan trademark and refinancing of its credit facilities.

Monogram Capital acquires majority stake in niche fragrance store, Luckyscent

Monogram Capital Partners has acquired a majority interest in Luckyscent, the Los Angeles-based niche fragrance retailer known for its Scent Bar stores and extensive online catalogue. The investment brings the private equity firm into a controlling position while Luckyscent’s existing leadership remains in place, with the stated aim of supporting the company’s next phase of growth and operational development. Monogram Capital also has fragrance investments in Tru Fragrance, Noyz, and D.S. & Durga.

Supergoop! Names Melis del Rey as New CEO, Succeeding Interim Leader Gregory Polcer

Supergoop! has appointed Melis del Rey as its new Chief Executive Officer and Board Director, effective December 8th, 2025, marking a leadership shift following Gregory Polcer’s tenure as interim CEO. Del Rey joins Supergoop! after more than 20 years in the global beauty and consumer goods sector, most recently serving as General Manager of Amazon U.S. Health and Beauty, where she oversaw the retailer’s transition into a major beauty destination. Her background includes senior roles at Amazon and Procter & Gamble, and her expertise spans product development, digital retail, and category growth. Polcer, who has led the brand on an interim basis since May 2025, will remain on the board as the company moves through the transition. Del Rey also holds a Ph.D. in New Product Development & Engineering Design and serves on the board of Cosmetic Executive Women (CEW).

Discounters & Department Stores

Kohl’s makes progress in Q3 despite sales, profit declines

Kohl’s Q3 net sales fell nearly 3% year over year to $3.4 billion, with comps down 1.7%, the department store reported on Nov 25th. Gross margin expanded by 51 basis points to 39.6%. Inventory totaled $3.9 billion, down 5% from last year. Net income plunged 64% to $8 million. The company has no plans to close locations beyond its usual annual review of store performance, CEO Michael Bender said on a conference call with analysts, adding that “well over 90% are profitable and productive for us.”

Macy’s Thanksgiving Day Parade Hits Another All-Time High With 34.3 Million Viewers, Up 8% From Last Year

The 2025 Macy’s Thanksgiving Day Parade scored another all-time viewership high for NBC and Peacock. After the annual parade brought in its biggest audience ever last year, the 2025 parade expanded its audience once again, scoring 34.3 million viewers across NBC and Peacock, according to live-plus-same-day viewership data. Total viewership for the 2025 parade was up 8% from last year, while ratings in the 18-49 demographic were up 13% over last year. On NBC alone, the original 8:30am ET airing scored 25.4 million viewers, similarly breaking last year’s viewership record of 23.6 million for the NBC telecast, which, at the time, broke the record for the most-watched entertainment show on linear TV since the 2020 Oscars.

Emerging Consumer Companies

Range raises $60 million Series C to accelerate AI-driven wealth management

Range, the AI-powered wealth management platform revolutionizing how Americans plan their financial futures, announced its $60 million Series C led by Scale Venture Partners. The funding round also included participation from Gradient Ventures and Cathay Innovation, along with several new investors, including 53 Stations. Range also announced the appointment of Rocket Money CEO Haroon Mokhtarzada to the company’s board of advisors, alongside Scale Venture Partners’ Alex Niehenke.

SportAI, racket sports analysis platform, raises $3 million

Artificial intelligence-fueled racket sports analysis platform SportAI has raised $3M in new funding. The latest round, which brings the Oslo-based startup’s total raised to $5.7M, includes investment from Norwegian investment firm Altitude Capital, Norwegian tennis star Casper Ruud, U.S. soccer player Alejandro Bedoya, TRK Group founder Trond Riiber Knudsen, and Endre Holen, a former senior partner at McKinsey & Company and board member at Hudl (in addition to investing in SportAI, Holen is also joining the company as its new chairman). Founded in 2023, SportAI’s core offering is a B2B software platform that applies AI models to video of racket sports match footage to analyze players’ technique, derive match statistics, and cut highlights, among other features.

Rhone names chief operating officer

Rhone, the performance apparel brand, announced the appointment of Matthew Wallace as Chief Operating Officer. With more than 30 years of experience leading operations and business development, Wallace brings deep expertise in brand growth, optimizing supply chains, and fostering high-performing teams. At Rhone, he will oversee the finance, people, supply chain, and operations, as well as the technology functions, driving efficiency, innovation, and sustainable growth as the brand continues to expand its reach. Before joining Rhone, Wallace served as the CEO and Co-Founder of DXM Inc., a fashion technology startup reimagining the apparel value chain by putting design and delivery directly in the hands of consumers. He has also held senior leadership roles at Walmart, PVH Corp., and Cerberus Capital, where he was instrumental in driving global operations, digital transformation, and business innovation.

Food & Beverage

Ritter Sport Acquires Chocolove

Ritter Sport has acquired U.S. chocolate manufacturer Creative Natural Products, Inc., owner of the Chocolove brand, officially bringing the Boulder-based premium chocolate company under the newly established Ritter Sport U.S. Subsidiary. The move significantly expands Ritter Sport’s footprint and capabilities in the U.S.—one of its most important global growth markets—and underscores the company’s long-term commitment to establishing itself as a leading premium chocolate brand, it says. The two family-owned companies share a strong foundation of values and a passion for crafting chocolate that delivers joy responsibly, they note—from Waldenbuch (Germany), Chicago, and Boulder.

Cheetos, Doritos go colorless as PepsiCo launches versions without artificial dyes

Cheetos and Doritos are stripping down to their true colors as PepsiCo begins rolling out snack options without artificial dyes, part of a slate of new innovations catering to health-conscious consumers. The dye-free versions of the popular snack brands will be available in retailers nationwide beginning Dec 1 under a new line called Simply NKD. The snacks are completely colorless, but otherwise identical in taste to traditional Doritos and Cheetos.

GLP-1 users to make up 35% of food and beverage sales by 2030

Households using GLP-1 medications for weight loss are set to account for more than a third of food and beverage sales over the next five years and are poised to reshape consumer preferences and purchasing patterns, according to a new Circana report. Around 23% of U.S. households currently have a member using GLP-1 drugs, like Ozempic or Wegovy, the report found. By 2030, these households are projected to represent 35% of all food and beverage units sold. The findings have major implications for food and beverage companies as they begin to navigate how GLP-1s affect consumer preferences and purchasing behavior. Weight-loss drugs suppress appetite and push consumers toward healthier, more convenient offerings with high protein, fiber, energy, or hydration benefits, Circana found.

Grocery & Restaurants

Restaurant chain California Pizza Kitchen to be acquired by investor group, sources say

California Pizza Kitchen has signed a deal to be acquired by an investor group led by Consortium Brand Partners and including Todd Boehly’s investment firm Eldridge Industries, for under $300 million, according to sources familiar with the matter. The investment represents an opening foray into the restaurant category for Consortium Brand Partners, which owns activewear brand Outdoor Voices, home decor company Jonathan Adler, and lifestyle brand Draper James, which was founded by actress Reese Witherspoon. Eldridge Industries is a well-known investor in consumer businesses, as well as insurance, technology and sports. Its restaurant investment business, Convive Brands, which owns Le Pain Quotidien and The Little Beet, will help operate CPK restaurants following the deal, the sources said. The company’s value has increasingly skewed toward its brand, as opposed to the restaurants, the sources said. It has a partnership with Nestle to sell its frozen pizzas in grocery stores across the country, and a partnership with manufacturer Litehouse to sell its CPK-branded salad dressings in stores.

Starbucks Red Cup Day drives 45% traffic surge

Starbucks Red Cup Day 2025 was an unprecedented success, beating out even the launch of the viral Bearista Cup just a week earlier. According to Placer.ai data, Starbucks traffic spiked 44.5% on Nov. 13, the day of the annual reusable holiday cup giveaway. Meanwhile, visits on Bearista Cup launch day (Nov. 6) surged 37.5%. Higher-than-usual traffic patterns lingered a day or two past the launch day, likely as customers tried their luck again after the bear-shaped cup was sold out everywhere. Starbucks CEO Brian Niccol noted that Red Cup Day 2025 was the company’s biggest sales day ever in the North America market, with Placer.ai data showing that foot traffic was 8.2% higher than Red Cup Day in 2023 and 3.1% higher than last year’s event. Placer.ai researchers suggested that Red Cup Day was amplified by the unexpected response to the limited-edition bear-shaped cup, which, according to social media posts, inspired pre-dawn lineups as customers literally fought to be among the lucky few to snag a Bearista cup.

Home & Road

American Signature files for Chapter 11; issues WARN notice

Top 100 retailer American Signature Inc. filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware on Nov. 22 and has begun issuing WARN notifications to employees, Furniture Today has learned. In the voluntary filing, the Columbus, Ohio-based retailer, which owns and operates American Signature Furniture and Value City Furniture, reported estimated assets of $100,000,001 to $500 million versus estimated liabilities of $500,000,001 to $1 billion to an estimated 1,000 to 5,000 creditors. As part of the proceedings, ASI expects to enter into a stalking horse asset purchase agreement with ASI Purchaser LLC, under which, subject to court approval, ASI Purchaser LLC will acquire substantially all of the company’s assets and assume certain related liabilities.

La-Z-Boy plans to exit 2 non-core case goods lines

La-Z-Boy has announced that it is exploring options for exiting two non-core case goods lines, and it has begun a consultation process regarding the proposed closure of a U.K. manufacturing facility, steps the company says align with its long-term strategy and ongoing portfolio optimization efforts. The company stressed that during this process, operations and production will continue as normal and no final decision has been made. The planned strategic moves will impact its Kincaid and American Drew case goods and Kincaid upholstery lines.

Jewelry & Luxury

Golden Goose Reports Double-Digit Growth in 9M Boosted by DTC

If a sale is in the cards for Golden Goose, its current owner, Permira, can tout sustained momentum for the brand. In the first nine months of the year, revenues at the Italian brand amounted to 517.1 million euros, rising 13 percent at constant exchange rates, compared with 466 million euros in the same period last year. The performance reflected another quarter of uninterrupted, profitable growth. Direct-to-consumer revenues climbed 21 percent in the third quarter, accelerating to 79 percent of total revenue, driven by new retail openings and double-digit like-for-like performance.

LuxExperience Appoints Francis Belin as New Mytheresa CEO

LuxExperience, the leading digital, multi-brand luxury group, is delighted to announce the appointment of Francis Belin as the new Chief Executive Officer of Mytheresa, effective January 1, 2026. Francis Belin brings extensive and diverse luxury experience and proven leadership in driving international growth. He also brings a deep understanding of high-net-worth individuals worldwide. Most recently, as President Asia Pacific and overseeing global Luxury and Asian Art at Christie’s, Francis has achieved numerous milestones, cementing Christie’s position as the global market leader. He has played a key role in securing some of the most important collections and works of Art. Francis has been pivotal in several important strategic initiatives, including the acquisition of Gooding & Company, a leading car auction house in California. Prior to that, he held various roles at Swarovski and Richemont, having started his career as a management consultant at McKinsey & Company.

Sotheby’s Brings Heavyweight Gems to Abu Dhabi in $1B Luxury Push

Sotheby’s is set to test the depth of the Middle East market, anchoring its inaugural Abu Dhabi Collectors’ Week with a top-drawer jewelry portfolio that includes the 31.68 ct. Desert Rose gem and the world’s largest flawless diamond. The Collectors’ Week event, held Dec. 2–5 in partnership with the Abu Dhabi Investment Office (ADIO), represents a strategic pivot for Sotheby’s, as the auction house will bring over $1 billion in total inventory to the St. Regis Saadiyat Island resort. While the event covers categories from F1 cars to real estate, the jewelry sector is arguably its most aggressive play, featuring a mix of live auctions and high-value private sales designed to court top-tier buyers in the region.

Office & Leisure

Sinclair Offers to Acquire E.W. Scripps for $7 per Share in Unsolicited Takeover Bid

Sinclair, the second-biggest U.S. TV station group owner, has proposed to acquire smaller rival E.W. Scripps Co. in its entirety, offering $7 per share for stock in Scripps that it does not already own.  Sinclair disclosed the takeover bid in an SEC filing and also said it has acquired a 9.9% stake in Scripps. Last week, Sinclair revealed it had bought up 8.2% of Scripps’ common shares and was in acquisition talks with the company.  Sinclair operates and/or provides services to 185 TV stations in 85 markets, while Scripps has more than 60 stations in 40-plus markets. According to Sinclair, upon closing of the Scripps acquisition, Scripps shareholders would own approximately 12.7% of the combined entity.  Sinclair’s bid for Scripps comes as Nexstar Media Group, the biggest U.S. television station ownership group with 201 stations, is seeking to close its $6.2 billion deal to buy Tegna, which has 64 stations. Last week, Nexstar filed applications requesting a waiver by the FCC of the agency’s 39% ownership cap on TV station owners’ reach across U.S. households.

Outpost Merges with June Homes

Outpost, the fast-growing, New York-based coliving operator, announced that it has merged with June Homes creating the largest coliving operator in the United States. The combined company (OJH Holdings) will boast roughly 4,000 units across New York City, Boston, Washington D.C., Chicago, Los Angeles, San Francisco and Austin, further solidifying Outpost’s position as the sector’s most durable operator at a moment when affordability has emerged as the defining challenge for young renters. With June Homes contributing approximately 2,600 units and Outpost contributing 1,400, the merger creates a platform with real national scale, and crucially, one that is profitable and positioned to last.  The new company is expected to generate roughly $65 million in annual revenue. The financial performance, combined with scale across multiple major markets, make Outpost one of the only national coliving operators that has achieved scale and profitability.

Technology & Internet

Best Buy Hikes Sales Forecast as Shoppers Upgrade Tech

Best Buy hiked its full-year forecast Tuesday, as it topped Wall Street’s quarterly sales expectations and customers turned to the retailer to upgrade laptops and splurge on new gaming consoles and smartphones. The consumer electronics retailer said it now expects revenue of between $41.65 billion to $41.95 billion for the full year, higher than its previous range of $41.1 billion to $41.9 billion. On the company’s earnings call, CEO Corie Barry said Best Buy saw “better-than-expected” sales in the quarter because of strong results across computing, gaming and mobile phones, as well as growth in wearables and headphones. She said sales rose across both its website and stores. “Customers remain resilient, but deal-focused and attracted to more predictable sales moments,” such as back-to-school sales and Best Buy’s October sale that coincided with Amazon’s Prime Day event, she said. And she said, “while customers continued to be thoughtful about big ticket purchases in the current environment, they are willing to spend on high priced point products when they need to or when there is technology innovation.”

Apple iPhone shipments to beat Samsung for the first time in 14 years

Apple is set to ship more smartphones than Samsung in 2025, the first time it will have done so in 14 years, Counterpoint Research said in a note on Wednesday. Apple will ship around 243 million iPhone units this year versus 235 million shipments from Samsung, Counterpoint told CNBC. Apple is likely to end up with a 19.4% share of the global smartphone market while Samsung’s share will be 18.7%. Apple’s success is being driven by its iPhone 17 series launched in September, which, according to Counterpoint, had a “bumper” holiday sales season. Sales of the iPhone 17 series in the U.S. — including the iPhone Air — during the first four weeks after launch was 12% higher than that of the iPhone 16 series, excluding the iPhone 16e, the research firm said. In China, a critical market for Apple, sales of the iPhone 17 series during the same period were 18% higher than its predecessor.

Alibaba Quark AI Glasses go on sale: Price, specs

Alibaba’s artificial intelligence-powered smart glasses went on sale on Thursday as the Chinese tech giant looks to ramp up its focus on consumer AI in an increasingly competitive market. The Quark AI Glasses, first announced in July, come in two variants — the S1, which starts at 3,799 Chinese yuan ($536) and G1 at 1,899 yuan. The tech giant has integrated its Qwen AI models — Alibaba’s version of ChatGPT — with the device which also links to its newly-launched Qwen app. This means users can use voice control to get the glasses to carry out tasks. The lenses of the glasses are effectively screens and the device has a camera built into the frame. The main difference between the S1 and G1 is the display, Alibaba said. Alibaba, like other technology companies such as U.S. giant Meta, are betting that smart glasses could be the next big consumer device after the smartphone. Alibaba’s glasses will initially go on sale in China and compete with domestic rivals, including consumer electronics maker Xiaomi and startup Xreal.

Finance & Economy

Consumer confidence hits lowest point since April as job worries grow

Consumers soured on the current economy and their prospects for the future, with worries growing over the ability to find a job, according to a Conference Board survey released on November 25th. The board’s Consumer Confidence Index for the month slumped to 88.7, a drop of 6.8 points from the prior month for its lowest reading since April. Economists surveyed by Dow Jones were looking for a reading of 93.2. In addition, the expectations index tumbled 8.6 points to 63.2, while the present situation index slipped 4.3 points to 126.9. “Consumers were notably more pessimistic about business conditions six months from now,” said Dana Peterson, the board’s chief economist.

Private payroll losses accelerated in the past four weeks, ADP reports

The U.S. labor market is showing further signs of weakening as the pace of layoffs has picked up over the past four weeks, payrolls processing firm ADP reported on November 25th. Private companies lost an average of 13,500 jobs a week over the past four weeks, ADP said as part of a running update it has been providing. That’s an acceleration from the 2,500 jobs a week lost in the last update a week ago. With the government shutdown still affecting data releases, alternative sources like ADP have been filling in the blanks in the economic picture.

Core wholesale prices rose less than expected in September; retail sales gain

Core wholesale prices rose less than expected in September, indicating a potential cooling in pipeline inflation pressures, the Bureau of Labor Statistics reported on November 25th. The producer price index, a measure of what producers get for final demand goods and services, increased seasonally adjusted 0.3% on the month, in line with the Dow Jones consensus estimate. However, excluding food and energy, the index rose just 0.1%, below the 0.2% estimate. Both core and headline PPI decreased 0.1% in August. Headline PPI was up 2.7% from a year ago, while core rose 2.6%.