Story of the Week
Bed Bath & Beyond relaunches with first store in Nashville, plans dozens more
Bed Bath & Beyond is back — kind of. The bankrupt home goods chain is being resurrected by the owners and licensees of its intellectual property, which opened the first new Bed Bath & Beyond store in Nashville, Tennessee, on Friday with potentially dozens of more to come. This time around, the store has a new name — Bed Bath & Beyond Home. Bed Bath and Beyond 2.0 has been several years in the making. When the original Bed Bath and Beyond filed for bankruptcy in April 2023, it struggled to find a buyer and ended up liquidating and selling off its business in parts. Overstock.com later bought the brand’s intellectual property, rebranded its business to Beyond Inc. and launched an online-only version of Bed Bath and Beyond. Ultimately, Beyond took an ownership stake in Kirkland’s Inc., a home decor chain with around 300 stores across the U.S., and gave it the exclusive license to develop and create Bed Bath & Beyond Home stores, as well as Buy Buy Baby stores. Kirkland’s later rebranded to The Brand House Collective and plans to convert some of its existing Kirkland’s Home stores into more Bed Bath and Beyond shops.
Apparel & Footwear
Tapestry completes Stuart Weitzman sale to Caleres
Tapestry completed the sale of Stuart Weitzman to Caleres, the company said. Caleres bought the brand for $120.2 million, including $11.5 million in cash received at closing, according to a news release from Caleres. The deal was initially announced in February. With the footwear brand out of its portfolio, Tapestry has freed up space to focus on its other, larger brands: Coach and Kate Spade. In Tapestry’s most recent earnings report, Stuart Weitzman’s revenue fell 18% to $46 million, while the company’s overall revenue grew 7% year over year, led by Coach. Tapestry is set to report fourth-quarter and fiscal 2025 earnings on August 14. “With the addition of Stuart Weitzman, our Brand Portfolio segment will represent nearly half of our total revenue going forward,” said Jay Schmidt, president and CEO of Caleres. “As we integrate this iconic brand, we remain committed to preserving the artistry, quality, and renowned fit at the brand’s core.”
Crocs Beats Q2 Expectations, But Remains Cautious on Q3
Both the Crocs and Hey Dude brands gave Crocs Inc. something to brag about in the second quarter. “We reported a solid second quarter with both our Crocs and Hey Dude brands contributing to our performance, while delivering the highest ever gross profit quarter in company history,” said Crocs CEO Andrew Rees in a statement. Rees added that strong cash flow generation allowed the company to return shareholder value through $133 million in share repurchases and $105 million in debt pay-down. The net loss for the second quarter ended June 30 was $492.3 million, or $8.82 a diluted share, against net income of $228.9 million, or $3.77, in the same year-ago period. On an adjusted basis, the diluted EPS was $4.23. Revenues for the quarter rose 3.4 percent to $1.15 billion from $1.11 billion. Direct-to-consumer (DTC) revenues grew 4 percent, while wholesale revenues rose 2.8 percent.
Saucony and Merrell Drive Strong Q2 for Wolverine
Shares for Wolverine Worldwide closed up nearly 15 percent at the end of trading on August 6 as the footwear company revealed a strong third quarter led by its Saucony and Merrell brands. The Rockford, Mich.-based footwear company said total revenue in the second quarter of 2025 was $474.2 million, up 11.5 percent from $425.2 million the same time last year. Ongoing total revenue in Q1—which excludes the results of the Sperry business, which was sold in January 2024 —was also $474.2 million, an increase of 11.6 percent from $424.8 million in the prior year period. Net earnings in the quarter were $29.0 million, up from $15.6 million at the same time last year. These results were above the guidance Wolverine Worldwide laid out last quarter, which called for net sales in Q2 between $440 million – $450 million, representing growth of approximately 3.7 percent to 6.0 percent.
Athletic & Sporting Goods
Callaway Raises Full Year Outlook as Topgolf Q2 Not as Bad as Expected
Callaway Brands recorded net revenue of $1.11 billion in the 2025 second quarter, a 4.1 percent year-over-year (y/y) decrease, primarily due to decreases in the Active Lifestyle segment as a result of the sale of the Jack Wolfskin business. The consolidated results were reportedly better than expected, largely due to stronger-than-anticipated performance in both the Topgolf and Golf Equipment segments. “We are pleased with our second quarter financial results as we met or beat expectations in all segments of our ongoing business, and our consolidated revenue and Adjusted EBITDA surpassed our expectations going into the quarter,” stated Chip Brewer, CEO, Topgolf Callaway Brands. “These results reflect continued consumer strength in our golf equipment business, the benefits from our gross margin and cost savings initiatives across each segment of our business, as well as the success of Topgolf’s value initiatives, which have significantly improved traffic and sales trends in the venues…”
Titleist Parent’s Q2 Sales Expand 5 Percent
Acushnet Holdings Corp., the parent of the Titleist and FootJoy golf brands, reported second-quarter results that showed increases of 5.4 percent in sales, 5.9 percent in net income and 9.2 percent in adjusted EBITDA, but earnings and sales trailed Wall Street expectations. Earnings of $1.25 compared with analysts’ estimate of $1.33. Sales of $720.5 million compared with analysts’ consensus target of $713.47 million. “Acushnet delivered another strong performance in the second quarter while operating in this dynamic environment. Through the first six months of the year, the team delivered a 3 percent increase in constant currency net sales driven by growth in Titleist golf equipment and Golf gear. We are especially pleased with the response to our new Pro V1 models and continued growth in Titleist GT drivers and fairways,” said David Maher, Acushnet’s President and Chief Executive Officer.
Peloton Posts Fiscal Q4 Revenue Beat, Swings to Q4 Profit and Plans Layoffs
Peloton Interactive shares were up sharply on the morning of August 7 as the company beat top and bottom-line estimates for its fiscal fourth quarter, swinging to a quarterly profit against estimates for a Q4 loss. The company reported earnings of 5 cents per share for the period, easily outpacing the 5 cents per share loss forecast by analysts. The company warned that sales of its exercise equipment and digital subscriptions are set to decline further in calendar 2025, prompting it to lay off some employees and relocate operations in a bid to cut costs. Along with the revenue and earnings beats, company President and CEO Peter Stern also announced that the company was launching a cost restructuring plan intended to achieve at least $100 million of run-rate savings by the end of FY26. He said this would be achieved by reducing the size of the company’s global team, paring back indirect spend, and relocating some work.
Cosmetics & Pharmacy
ACON Investments Announces Sale of Amfora
A fund managed by ACON Investments, L.L.C. (“ACON”), a middle market private equity investment firm based in Washington, D.C., announced that it has entered into an agreement for the sale of its controlling interest in Amfora Packaging S.A.S. (“Amfora” or the “Company”) to Albéa Group, a global leader in sustainable cosmetic packaging (“Albéa”). Formed by ACON in 2015 through the simultaneous acquisition and merger of two family-owned businesses, Bogotá-based Intecplast and Lima-based Pieriplast, Amfora is an innovative packaging company focused on the beauty and personal care segment. Under ACON’s ownership, the combined platform experienced significant growth, making it an attractive opportunity for Albéa to expand its offering in color cosmetics, skincare, personal care and fragrance.
Hugel Hits KRW200 Billion in H1 Sales as Toxin and Cosmetics Drive Growth
Hugel Inc. posted record-breaking results in the first half of 2025, with net sales surpassing KRW200 billion and Q2 operating profit up 33.6% year-on-year to KRW56.7 billion. Growth was led by strong overseas sales of botulinum toxin and hyaluronic acid fillers, particularly following the US launch of Letybo and expanded shipments to China. Botulinum toxin sales reached KRW61.2 billion in Q2, while cosmetics sales more than doubled to KRW13.6 billion, marking a 104.5% year-on-year increase. Exports accounted for 63% of quarterly sales. Hugel’s international expansion, new market entries, and surging cosmetics category have positioned it for continued growth, with further plans to deepen presence in the US, China, and emerging markets.
Oneskin Raises US$20 Million from Prelude Growth to Accelerate Product and Team Growth
Oneskin has secured a US$20 million investment from Prelude Growth Partners to support product development, clinical trials, and new leadership hires. The investment, which replaces a previous investor, comes as the brand is projected to generate US$40–US$50 million in revenue this year. Oneskin, known for its OS-01 peptide-based skincare, relies primarily on DTC sales and subscriptions. Prelude, whose portfolio includes Sol de Janeiro and Summer Fridays, brings operational insight and growth expertise. The brand recently added a VP of growth marketing and a creative director, with more hires planned. Prelude’s investment reflects confidence in Oneskin’s science-backed positioning and recurring revenue model. The funds will help scale the brand ahead of a potential retail expansion in 2027.
Discounters & Department Stores
Target launches The Wild Collective, a brand featuring NCAA-licensed apparel
As students head back to campus, Target is expanding its assortment of college-focused merchandise, including by offering three times as many new “game day” items as a year ago, according to a company press release. On August 10, Target will launch The Wild Collective, a private label brand consisting of men’s and women’s NCAA-licensed apparel. The brand of clothing will be available at select Target stores and on the retailer’s website. The retailer is also offering 50% off its Target Circle 360 membership for verified students through September 13. The broader revamp comes as the mass merchant faces weak sales, as well as leadership changes, including the departure of Chief Strategy and Growth Officer Christina Hennington.
Vendors say Saks Global not following through on overdue payments
Saks Global in June told analysts that it had mostly smoothed things over with vendors upset by overdue invoices, but the company has failed to follow through on payments that were to commence this summer, according to vendors in communication with Retail Dive. In an email sent to Saks’ payables department this week, Sunday Riley Modern Skincare said the retailer’s team had promised the brand would “start obtaining your 12 payment installments in July 2025.” The brand warned it would escalate the matter to its legal department if the account wasn’t settled in full. “Please understand your account with us is not only severely outstanding, but you have failed to follow through with your commitment,” the skin care brand also said.
Emerging Consumer Companies
Cafeteria Raises $3-Million Growth Round to Expand Gen Z Insights
Cafeteria, a consumer insights platform that enables Gen Z and Alpha to earn for direct and private brand insights, announced a $3-million growth round, valuing the company at $22 million. The round adds participation from Marquee Ventures, Listen Ventures and Thayer Investment Partners. With the new capital, it is set to expand AI capabilities and scale data infrastructure to transform unstructured text and voice into actionable insights. Cafeteria previously raised a multimillion-dollar seed round in July 2024, led by Collaborative Fund and Imaginary Ventures, with additional participation from Bertelsmann and music mogul Guy Oseary, that valued the company at $12 million.
Snack brand Doughlicious raises $5 million
Doughlicious, a London, UK-based frozen snack brand, raised $5 million in funding. The round was led by Rich Products Ventures (RPV), the corporate venture capital fund of global, family-owned food company Rich Products (Rich’s), and private investor collective The Angel Group, along with participation from existing investors. Doughlicious makes frozen cookie dough & gelato bites certified gluten-free, free from added refined sugars and white bleached flour, and contain no artificial additives or preservatives. All frozen snacks are crafted and produced at the brand’s facility in London, England. Products are available in over 10,000 retail stores across the US, including Target, Whole Foods, Wegmans, and GoPuff, UK, parts of Europe, and the Middle East.
Adanola raises round from Story3
Adanola, the U.K. based cult womenswear brand redefining the active lifestyle wardrobe, is pleased to announce a significant minority investment from STORY3 Capital Partners, the Los Angeles based private equity firm focused on growth and long-term value creation within the consumer sector. This strategic partnership marks an important milestone in Adanola’s continued expansion, enabling the brand to strengthen its position as a global leader in the activewear space. Founded in 2015 by Hyrum Cook, Adanola emerged from a singular vision, to create the everyday uniform for modern women; elevated, versatile activewear that transitions effortlessly between function and aesthetic. Its rise has been powered by cult favorite products like the Ultimate Leggings (with over 1.5 million pairs sold), alongside high-profile supporters including Kendall Jenner, Kaia Gerber, Veneda Carter and Rosie Huntington-Whiteley.
Youthforia is closing its doors over a year after the indie makeup brand became embroiled in a social media firestorm. Launched in 2021, Youthforia made a name for itself by proclaiming its makeup products were so gentle on the skin that customers could sleep in them. Its $36 BYO Color Changing Blush Oil, a product that reacted to the skin’s natural pH level to reveal its tint, was a bestseller. In April 2023, it secured funding from early-stage beauty and wellness investment firm True Beauty Ventures, Willow Growth and entrepreneur, investor and ABC television show “Shark Tank” star Mark Cuban.
Food & Beverage
Dole sells fresh vegetable division to private equity firm for $140M
Dole sold its fresh vegetable division to private equity firm Arable Capital Partners, which owns packaged salad brand Organicgirl, for $140 million. Dole’s fresh vegetables segment oversees the processing and sale of everything from lettuce and cauliflower to broccoli and packaged salads. As part of the deal, Dole is retaining its facilities in Huron, California, and Yuma, Arizona. Dole announced in January 2023 that it planned to divest the segment to Fresh Express, a subsidiary of Chiquita Brands International, for about $293 million. But the transaction was terminated a year later amid opposition from the DOJ, which alleged the deal would reduce competition and lead to higher prices.
Boston Beer founder Jim Koch returning to Sam Adams brewer as CEO
Jim Koch, Boston Beer founder and chairman, will return as CEO at the Sam Adams brewer, a position he held from the company’s beginnings in 1984 until January 2001. Koch replaces Michael Spillane, who is stepping down as CEO on August 15 to focus on personal matters. Spillane will remain on the company’s board of directors. The executive change comes as the beer industry grapples with a downturn in consumption. The sector has struggled as consumers pull back on spending and curtail booze consumption. Koch told The Wall Street Journal he will remain as CEO until an internal successor is ready. “I don’t anticipate doing this in five years,” he told the business publication. “There are multiple people who are not yet ready, but in a couple of years, one or two of them will be.”
B&G Foods sells Le Sueur brand to McCall Farms
Parsippany-based consumer-packaged goods giant B&G Foods Inc. sold its Le Sueur brand of premium sweet peas, green beans and carrots to a South Carolina-headquartered canning and freezing company. B&G did not disclose financial terms of its deal with McCall Farms Inc. in an August 1 press release. However, the company said it will use proceeds to repay long-term debt. The move comes a decade after B&G acquired Le Suer and Green Giant brands of frozen and canned vegetables from General Mills Inc. for $765 million. In a statement, B&G President and Chief Executive Officer Casey Keller said, “Our sale of the Le Sueur brand represents continued progress in our ongoing efforts to reshape our portfolio, sharpen focus on our core brands and reduce long-term debt. The Le Sueur brand has performed very well for us over the years, and we believe it will continue to thrive under the ownership of McCall Farms.”
Warburg Pincus Announces Agreement to Acquire FlavorSum
Warburg Pincus, the pioneer of private equity global growth investing, announced an agreement to acquire FlavorSum, a leading provider of natural flavor solutions for food & beverage companies, from The Riverside Company. Financial details of the transaction were not disclosed. FlavorSum develops and produces custom natural liquid flavors, extracts, and flavor systems used across food and beverage applications, primarily serving high-growth, disruptive brands. With core competencies in R&D and application support, the Company offers its customers standout flavor formulation capabilities, combined with industry-leading operational excellence, and customer experience.
Grocery & Restaurants
Qdoba secures more funding to accelerate growth
Qdoba has secured $527 million in funding from Los Angeles-based private equity firm Butterfly Equity. This builds on Qdoba’s inaugural $305 million securitization fund in late 2023 from Butterfly, which acquired the Mexican fast casual chain in 2022. Since that acquisition, Qdoba has named industry veteran John Cywinski chief executive officer and transitioned into a franchise-first model. The company also shared its goal to approximately double its unit count to reach roughly 1,500 restaurants, and this latest round of funding from Butterfly is expected to accelerate that growth. Qdoba ended 2024 with $1.2 billion in sales and 777 units, according to Technomic.
Philz Coffee acquired by Freeman Spogli investment firm
Philz Coffee, a specialty coffee brand, has entered into an agreement to be acquired by Freeman Spogli, a strategic growth investor in the consumer services and multi-unit industries. Philz Coffee will continue to be led by CEO Mahesh Sadarangani, who first joined Philz in 2021. Philz Coffee was founded in 2003 in San Francisco by Phil Jaber and his son, Jacob, who transformed a corner store into a neighborhood cafe. That single cafe in the Mission District has grown to 77 units across California and Chicago. Freeman Spogli has also invested in El Pollo Loco, First Watch, and Popeyes Louisiana Chicken.
Northeast Grocery said to be considering sale
Northeast Grocery, parent of the Tops Friendly Markets and Price Chopper/Market 32 chains, is reported to be attracting interest from potential buyers, according to reports. The company has received offers from both private equity firms and other food retailers, according to a Reuters report, which cited three unidentified sources. The sale price could be as high as $1 billion, according to the Reuters report, which estimated that the company generates annual EBITDA of nearly $250 million. Tops and Price Chopper merged to form Northeast Grocery in 2021, with a total of nearly 300 stores, mostly in upstate New York.
Home & Road
HNI Corp. and Steelcase Inc. have entered into a definitive agreement under which HNI will acquire Steelcase in a cash and stock transaction, with a total consideration of approximately $2.2 billion to Steelcase common shareholders. This is HNI’s second major acquisition in three years; the company acquired commercial furnishings company Kimball International in 2023. Under the terms of the agreement, Steelcase shareholders will receive $7.20 in cash and 0.2192 shares of HNI common stock for each share of Steelcase they own. The implied per share purchase price of $18.30 is based on HNI’s closing share price of $50.62 on Friday, Aug. 1. Upon closing, HNI shareholders will own approximately 64% and Steelcase shareholders will own approximately 36% of the combined company.
Wayfair Q2 Delivers Momentum As Its Initiatives Take Hold
Wayfair posted second-quarter gains as its strategy gained momentum and recent initiatives, including the launch of physical stores, began to show results. Net income was $15 million, or 11 cents per diluted share, versus a net loss of $42 million, or 34 cents per diluted share, in the year-before quarter, the company maintained. Adjusted for one-time events, net income was $134 million, or 87 cents per diluted share, versus $69 million, or 47 cents per diluted share, in the year-previous quarter. A Zacks Investment Research analyst consensus estimate called for earnings per adjusted diluted share of 36 cents and revenues of $3.14 billion. Net revenue was $3.27 billion versus $3.12 billion in the year-prior quarter, with net revenue recorded in the United States of $2.87 billion versus $2.73 billion. Operating income was $17 million versus an operating loss of $35 million in the year-earlier period.
Luxury marketplace 1stDibs holds steady in Q2
Net revenue and gross profit were basically flat in the second quarter as luxury online marketplace 1stDibs continued on its path toward operational efficiency. Net revenue for Q2, which ended June 30, was $22.1 million, down slightly from $22.2 million in the same quarter in 2024. Gross profit, meanwhile, remained flat at $15.898 million vs. $15.945 million a year ago. Gross margin edged up slightly to 71.8% compared with 71.7% in Q2 2024. 1stDibs‘ net loss was $4.3 million for the quarter vs. $4.4 million in the same quarter a year ago. Non-GAAP adjusted EBITDA and adjusted EBITDA margin experienced a loss of $1.8 million and 7.9%, respectively, for the quarter. “Our second quarter highlights steady progress on our strategic objectives and prudent expense management,” said CEO David Rosenblatt. “We are relentlessly focused on product innovation and operational efficiency, which are driving consistent conversion gains and strengthening the marketplace even amidst a challenging landscape for luxury home goods.”
Jewelry & Luxury
Claire’s files Chapter 11 with 18 stores slated to close
Claire’s, which struggled to regain its strength after restructuring under Chapter 11 seven years ago, filed for bankruptcy in the U.S. and plans to file in Canada. The mall chain is mulling its options and is in “active discussions with potential strategic and financial partners,” CEO Chris Cramer said in a statement. In the meantime, stores in North America remain open. However, the company intends to sell some or all of its assets, and an initial 18 U.S. stores are slated to close, according to court filings. Claire’s has debt of at least $1 billion and as much as $10 billion, per filings. The company’s debt levels have grown to the point where managing them plus operating stores was becoming impossible, according to GlobalData Managing Director Neil Saunders. Competition has also grown more intense, including from newcomers “like Lovisa offering younger shoppers a more sophisticated assortment at value prices,” he said in emailed comments.
Brilliant Earth’s Comps Rise as It Pays Off Debt
Brilliant Earth’s comps grew 3% year-over-year in the second quarter (ended June 30), as the San Francisco-based e-tailer announced it has paid off existing debt while issuing its first-ever dividend. Sales for the quarter totaled $108.9 million, with the number of orders growing 18% over the prior year, though the average order value (AOV) dropped 12.6%. In an earnings call following the release of Q2 financial results, Brilliant Earth CEO Beth Gerstein attributed the decline in AOV to increased purchases of fine jewelry, which has a lower price point than bridal, as well as to “strong customer demand in engagement rings under $5,000.” Overall, Brilliant Earth recorded a $1.1 million net loss for the quarter, but it ended the period with $98.8 million in cash, a 5% jump over last year. The company also announced it has paid off its term loan balance of $34.8 million, leaving it with zero debt. Brilliant Earth also issued a one-time cash dividend to Class A shareholders of $0.25 per share.
Ralph Lauren’s Q1 Earnings Beat and Margin Outlook as a Catalyst for Long-Term Value Creation
Ralph Lauren’s Q1 2025 earnings beat highlights disciplined cost control, currency tailwinds, and aggressive share buybacks, driving margin expansion and shareholder value. Gross margin rose 170 bps to 70.5% via 6% AUR growth, lower cotton costs, and lean inventory management, reducing carrying costs by 13% YoY. The weak dollar boosted international revenue growth (7% in Europe, 9% in Asia) while $225M in buybacks leveraged $1.8B cash reserves to lift EPS 15% YoY. Strategic investments in omnichannel expansion and brand moments position RL as a resilient luxury play with a 15% discount to the 5-year average P/E.
Office & Leisure
Snif-Snax acquired by private equity firm, Firelight Capital
Firelight Capital Partners has acquired Snif-Snax, a Miami-based wholesaler and retailer specializing in smoked Scottish salmon and chicken pet treats. Financial terms of the transaction were not disclosed. Snif-Snax produces primarily single-ingredient treats in human-grade facilities, with products smoked in the U.S. and UK using natural hardwood chips. The company excludes grains, chemical additives, antibiotics and GMOs from its formulations. Products are distributed online and through select retailers across the U.S.
GoPro Inc. Raises $50M Via Second Term Loan to Bolster Balance Sheet, Repay Debt
GoPro, Inc. has entered into a Second Lien Credit Agreement providing for a secured term loan in an aggregate principal amount of $50 million from Farallon Capital Management, LLC, and certain of its affiliates. The company closed the debt financing as part of a strategic initiative to bolster its balance sheet and placed approximately $94 million in escrow to repay the convertible debt maturing in November 2025. “This debt financing underscores our disciplined approach to capital management and reinforces our commitment to achieving long-term financial strength,” said Brian McGee, CFO and COO of GoPro, Inc. “Farallon’s understanding of our business needs allowed us to develop a solution that enhances our balance sheet in a way that is intended to provide the flexibility we need to meet our near-term obligations while continuing to execute on the business.”
Technology & Internet
Uber Beats on Revenue, Announces $20 Billion Stock Buyback
Uber reported second-quarter results on Wednesday that beat on revenue and announced the authorization of a $20 billion stock buyback. Uber’s revenue increased 18% from $10.7 billion a year earlier. Gross bookings rose 17% to $46.8 billion, and the company reported adjusted earnings of $2.12 billion. “At this point, we’re not seeing weakness in the consumer,” CEO Dara Khosrowshahi told CNBC’s “Squawk Box” Wednesday. “It’s steady as she goes, and for Uber, that’s great news.” Uber’s “monthly active platform consumers” increased 15% to 180 million in the second quarter. The company said users booked around 3.3 billion trips during the period, up 18% from a year earlier. In some international markets, Uber Eats’ food delivery service is more popular than ride hailing, and the company is working to increase “cross-platform activity” to drive sales growth, Khosrowshahi said in a release.
Shopify Stock Soars on Rosy Guidance, CFO Says Tariff Hit ‘Did Not Materialize’
Shopify shares soared 21% on Wednesday after the company topped analysts’ estimates for the second quarter, and gave rosy guidance for the third quarter. Second-quarter sales surged 31% year over year to $2.68 billion, an acceleration from a year ago, when revenue expanded roughly 20%. The Canadian e-commerce company also offered third-quarter guidance that surpassed expectations. Shopify said it expects revenue to grow at a “mid-to-high twenties percentage rate” year over year, which is higher than the 21.7% growth projected by analysts, according to StreetAccount. The upbeat report and guidance suggested Shopify, which sells software for e-commerce businesses, is navigating President Donald Trump’s trade war better than feared. Last quarter, the company noted that there was macroeconomic “uncertainty ahead,” but that it wasn’t seeing significant price increases among its merchants due to the tariffs.
Finance & Economy
Tariff on India to Rise to 50%, Trump Says
The tariff on goods imported from India to the United States will increase to 50 percent later this month, the White House announced. In an executive order, President Donald Trump said he plans to add an additional 25 percent to the 25 percent tariff on Indian imports announced last week. The rate set for India, where 90 percent of the world’s diamonds are cut and polished, is one of the highest proposed for a U.S. trading partner. It is one of a number of reciprocal tariffs poised to impact the jewelry and watch industry. Switzerland, the center of the mechanical watch-making world, faces a 39 percent tariff, while imports from Thailand are set to be taxed at 19 percent; Botswana, 15 percent; and the European Union, 15 percent, just to name a few.
Continuing claims for unemployment benefits hit highest level since November 2021
Americans filing for unemployment insurance on an ongoing basis reached the highest level since November 2021 at the end of July. In the week ending July 26, 1.974 million continuing claims were filed, up from 1.936 million the week prior and the highest level seen since November 2021, according to data from the Department of Labor. Economists see an increase in continuing claims as a sign that those out of work are taking longer to find new jobs. Meanwhile, weekly filings for unemployment benefits increased to 226,000 in the week ending Aug. 2, up from 221,000 the week prior.
Trump order will allow alternative assets like cryptocurrencies, private equity in 401(k)s
President Donald Trump signed an executive order to allow alternative assets such as private equity, cryptocurrencies, and real estate into 401(k)s, according to a senior White House official. The executive order will direct the U.S. Secretary of Labor to review fiduciary guidance on private market investments in 401(k) and other defined contribution plans that are governed by the Employee Retirement Income Security Act of 1974, or ERISA. The federal law sets minimum standards for most retirement plans. An executive order would mark a major victory for the alternative asset industry, which has pushed for greater adoption of private assets in defined contribution plans under Trump’s second term in office.
