Story of the Week
Lowe’s makes $8.8B acquisition; grows Q2 profits and sales
Lowe’s Companies Inc. has made another deep dive into its pro business with a multi-billion-dollar investment. The home improvement giant has entered into a definitive agreement to acquire Foundation Building Materials, a North American distributor of interior building products, for $8 billion. The company’s product categories include drywall, metal framing, ceiling systems, commercial doors and hardware, insulation, and complementary products serving large residential and commercial professionals in both new construction and repair and remodel projects. Since 2011, FBM has grown to operate a network of over 370 locations in the U.S. and Canada, serving 40,000 Pro customers. In 2024, the company generated approximately $6.5 billion in revenue.
Apparel & Footwear
Guess to go private in $1.4 billion deal with Authentic Brands, co-founders and CEO
Guess said on August 20 that it has agreed to be taken private by a group, including its co-founders, CEO, and Reebok-owner Authentic Brands, in a deal valuing the designer apparel brand at $1.4 billion, including debt. As part of the transaction, co-founders Maurice Marciano and Paul Marciano, and CEO Carlos Alberini have partnered with Authentic Brands, which will acquire 51% of all Guess’ intellectual property. Guess’ existing shareholders will own the rest. Guess shareholders will receive $16.75 per share in cash, representing a 26% premium to the Aug 19 close. Its shares jumped nearly 26% to $16.77 in early trading. They have lost about 38% over the last 12 months amid tough competition for consumer dollars and economic uncertainty.
German brand Birkenstock’s revenue climbs 12% in Q3 FY25
Birkenstock has reported revenue of €635 million (~$743.95 million), up 12 per cent in the third quarter of fiscal 2025, compared to the fiscal third quarter of fiscal 2024 on a reported basis and up 16 per cent in constant currency. Revenue growth was supported by high single-digit unit growth and mid-single-digit growth in Average Selling Price (ASP). Closed-toe shoes continue to outpace the growth of sandals, contributing to the higher ASP. Closed-toe share of revenue increased 400 basis points year-over-year. B2B revenue grew 15 per cent on a reported basis and 18 per cent in constant currency, supported by strong demand and sell-through at key partners. DTC revenue was up 9 per cent on a reported basis and 12 per cent in constant currency. The company opened 13 new stores during the fiscal third quarter of 2025, bringing the total number of retail stores to 90.
Abercrombie Kids adds Nordstrom, Dick’s Sporting Goods as wholesale partners
Abercrombie Kids has partnered with multiple retailers on wholesale partnerships, including Nordstrom, Bloomingdale’s, Macy’s, and Dick’s Sporting Goods, announced parent company Abercrombie & Fitch. With its wholesale partners, Abercrombie Kids will offer a full range of styles for boys and girls in sizes 5 to 18. The merchandise includes back-to-school and fall items, per the announcement. The partnerships have expanded the brand’s presence into more than 1,000 locations, the company said in a statement.
Japan’s Asics H1 profit surges 37.5% as lifestyle brands fuel growth
Japanese sportswear company Asics Corporation posted net sales of ¥402,798 million (~$2.73 billion) in the first six months ended June 30, 2025, up 17.7 percent year-over-year and surpassing the ¥400 billion milestone for the first time at the interim stage. Operating profit increased 37.5 percent to ¥81,132 million (~$550.3 million). Ordinary profit increased 36 percent to ¥78,626 million, and profit attributable to owners of the parent rose 27 percent to ¥53,606 million. The basic earnings per share stood at ¥75 compared with ¥58.09 a year earlier, and the gross margin improved to 56.7 percent and operating margin to 20.1 percent, both achieving record levels.
Athletic & Sporting Goods
Strong Q2 for the Running Footwear Category
With performance running footwear models experiencing steady demand and strong heat behind running-influenced lifestyle offerings, the running footwear category had a banner second quarter for a wide range of brands, with momentum expected to continue. Sales in the second quarter climbed 19 percent at Brooks, 20 percent at Hoka, 38 percent in constant currencies at On; 42 percent at Saucony, and more than 20 percent at Altra, owned by VF Corp. Asics saw double-digit growth in the U.S. while Nike delivered high single-digit growth in its performance run styles in its fiscal fourth quarter ended May 31. Adidas saw a 25 percent increase in running during the second quarter.
Novak Djokovic Acquires Significant Stake in Incrediwear
24-time Grand Slam champion and Olympic gold medalist Novak Djokovic has acquired a significant stake in Incrediwear, the leader in bioactive infrared fabric technology, marking a powerful new chapter in the future of athletic recovery and performance. Incrediwear’s clinically proven, element-infused fabric is activated by body heat to deliver infrared and negative ion therapy, accelerating recovery without drugs, compression, or side effects. Djokovic’s partnership represents a major milestone for Incrediwear as it scales its presence across sports, medical, and wellness sectors.
Pickleball Leads H1 Participation Growth by Activity; Winter Sports Paces Category Gains
The Sports & Fitness Industry Association (SFIA) issued its first mid-year update on sports and fitness participation data, showing that pickleball remains the fastest-growing sport, while Winter Sports delivered the strongest gains among categories. However, participation overall was down in many major sports, resulting in a rise in inactivity rates. Under an updated framework, individuals are considered “active” if they participate in at least 150 minutes of moderate-intensity activity per week. In the first half of 2025, 31.3 percent of Americans met this threshold, a decrease of 0.6 percentage points from 31.9 percent in 2024. The proportion of Americans considered inactive rose to 22.9 percent during the first half of 2025, up from 22.6 percent in 2024. The industry trade association attributed the decline in part to ongoing market and economic uncertainty surrounding tariffs.
Cosmetics & Pharmacy
U.S. Beauty Industry Posts Modest Growth in H1 2025, Circana Finds
The U.S. beauty industry expanded in the first half of 2025, with prestige beauty sales rising 2% to US$16 billion and mass market beauty up 4% to US$34.6 billion, according to new data from Circana. Fragrance led category growth, with prestige sales up 6% to US$3.9 billion, fueled by new brand launches and demand for both high-concentration formats and mini sizes. Mass fragrance surged 17%, largely driven by women’s scents. Prestige hair care climbed 6% to US$2.3 billion, supported by strong styling products and scalp care (+19%), while mass hair sales rose 4% but units remained flat. Makeup delivered mixed results: prestige sales inched up 1% to US$5.2 billion, with lip products and mascara driving gains, while mass makeup slipped. Lip hybrids and lip contouring trends continued to shape prestige performance.
L’Oréal Axes Gowoonsesang Brands, Focuses on Dr.G
L’Oréal is discontinuing Gowoonsesang Cosmetics’ operations to concentrate solely on its K-beauty skincare brand Dr.G. The company has scrapped Gowoonsesang’s plan to build ten brands and rebranded the unit as L’Oréal Korea-Dr.G. Brands Vividraw and Heals will be wound down by year-end, with support for existing stock and promotions continuing until then. Vividraw, launched in 2021 to attract younger makeup users, is being cut due to heavy competition. L’Oréal acquired Gowoonsesang, formerly part of Swiss retailer Migros, in March, adding Dr.G to its global portfolio. The move follows its earlier K-beauty acquisition of 3CE.
Estee Lauder CFO Says $100M Tariff Cloud Looms Over 2026
Estee Lauder said that the beauty and cosmetics giant expects tariff-related headwinds to impact profitability by about $100 million in fiscal 2026. “We continue to evaluate additional strategies to further mitigate these impacts, including more PRGP initiatives and potential pricing actions,” Shrivastava said on a post-earnings call. CEO Stéphane de La Faverie noted that following the launch of its The Ordinary product on Amazon Premium Beauty Store in the U.S. during the third quarter, the company also launched Origin and Aveda brands at Amazon’s stores in the fourth quarter. “We now have 11 brand storefronts in the U.S. and three in Canada. And in Southeast Asia, we built scales on Shopee and TikTok shop across the third and fourth quarters,” de La Faverie. He added that this action complemented second-half growth and, as a result, online organic sales growth accelerated from low single digit in the first half to mid-single digit in the second half.
Waldencast Reports H1 2025 Brand Growth, Acquires Novaestiq, and Reviews Strategic Options
Waldencast has reported strong brand performance in H1 2025, with Obagi Medical delivering double-digit growth in core channels and Milk Makeup driving strong U.S. retail sales, while the company pursues a transformative acquisition and launches a review of strategic alternatives. Obagi Medical achieved mid-teen growth in strategic channels and strengthened its brand awareness leadership, bolstered by the acquisition of Novaestiq Corp, which doubles its U.S. addressable market by expanding into dermal fillers pending FDA approval. Milk Makeup posted high-20s growth in U.S. retail through Ulta Beauty expansion and its Amazon Premium Beauty debut, supported by innovations such as Hydro Grip Gel Skin Tint and Balmade Lip Balm.
Discounters & Department Stores
On Aug 20, Target said that company veteran Michael Fiddelke will become its next CEO at a critical point in its effort to break out of a sales slump and win back Wall Street’s favor. Fiddelke, the company’s 49-year-old chief operating officer and former chief financial officer, will succeed Brian Cornell effective Feb 1. Cornell, who took the helm of the cheap chic retailer in 2014, will transition to the role of executive chair on Target’s board of directors. The Minneapolis-based retailer made the announcement on the same day it reported fiscal second-quarter results. It topped Wall Street’s quarterly sales and earnings expectations, but stuck by a full-year outlook that forecasts another annual sales decline.
Walmart Shares Fall on Rare Profit Miss Despite Sales Growth
Walmart Inc. shares dropped after the retailer reported a rare quarterly profit miss, its first in three years, citing higher insurance claims, legal charges, and restructuring costs. Second-quarter adjusted earnings per share came in at US$0.68, six cents below Wall Street expectations, sending shares down as much as 4.4% in New York. While profitability was pressured by liability and workers’ compensation claims, overall sales performance was robust. Net sales rose, with comparable store sales exceeding forecasts, and e-commerce surged 25% on the back of faster delivery demand. Walmart also lifted its full-year sales guidance to 3.75%–4.75%, up from 3%–4%, and slightly raised earnings expectations. CFO John David Rainey highlighted strong traffic, growing market share among higher-income households, and resilient consumer spending, particularly in food and essentials.
Emerging Consumer Companies
Tony Robbins and Peter Diamandis’ longevity company Fountain Life raises $18M
Fountain Life just raised an $18 million Series B round, led by EOS Ventures, with participation from most of the existing members of the board. Fountain previously raised an $80 million Series A round and has raised about $108 million total. Longevity as a subject of serious study by the medical community is a new field. The first principle of longevity, Kapp said, is “don’t die of anything stupid.” Therefore, Fountain Life’s centers, of which there are four today, have a heavy focus on prevention screening, looking for illnesses and chronic conditions at their earliest stages when they tend to be asymptomatic. Blood tests and body scans gather data on over 100 biomarkers, from liver fat to “microbiome concentrations,” he said. The second principle is optimization, meaning improving those markers with scientifically validated treatments, he said. And the third principle is “using the latest regenerative therapies under FDA trials,” to treat illness or achieve optimization.
Eight Sleep raises $100 million to expand its AI-powered sleep tech
Eight Sleep, the New York-based sleep brand, announced that it raised a fresh $100 million round from investors such as HSG, Valor Equity Partners, Founders Fund, Y Combinator, and athletes including Ferrari F1 driver Charles Leclerc, and Zak Brown, who is the CEO of McLaren F1. With this round, Eight Sleep has raised roughly $260 million total, PitchBook estimates. It previously raised $86 million in Series C funding in 2021 by investors who assigned it a $500 million post-money valuation. Eight Sleep said its valuation has doubled since its last round, but it didn’t disclose specifics. Eight offers smart mattresses that integrate software and AI to track and enhance sleep quality. Its flagship product, Pod, offers features like measuring sleep stages, heart rate, breathing patterns, and movement.
Knix makes a bigger play for the US market with New York store opening
DTC intimates brand Knix re-entered brick and mortar in the U.S. on Aug 22 by opening a 1,400-square-foot store in the SoHo neighborhood of New York City. Located at 242 Lafayette St., the Knix store features dedicated “bars” for bras, underwear, and activewear, as well as a special section for Knix’s teen brand, Kt by Knix. The retailer formatted the location without a freestanding cash desk, leaning on a mobile point of sale instead. Knix eyes the New York area as conducive for opening multiple stores. As of this fall, Knix will have a total of 20 stores, 19 of which are in Canada, as it continues to grow its brick-and-mortar footprint.
Better Meat Co. raises $31 million
As the plant-based meat sector continues to have its own struggles, The Better Meat Co. (BMC) raised $31 million in a Series A financing round to scale its mycoprotein fermentation processes to commercial levels. The round was co-led by Future Ventures and Resilience Reserve. Glenn Hickman, chief executive officer of Hickman’s Family Farms, who will be joining the company’s board of directors following the funding round, Epic Ventures, Sigma Ventures, and other investors also joined the round. Founded in 2018, the startup produces Rhiza — a mycoprotein ingredient that may be used to enhance or replace meat in a variety of applications — at its fermentation facility in Sacramento. Rhiza is produced by feeding starch foods like potatoes to fungi roots in large fermentation tanks and is ready to harvest within hours.
Food & Beverage
Anheuser-Busch to invest $15M in flagship St Louis plant
Anheuser-Busch plans to spend $15 million on its St. Louis brewery, as part of a $300 million U.S. investment announced in May. AB InBev’s Anheuser-Busch division said the investment at its flagship U.S. facility includes funding for supply chain infrastructure to transport domestically grown ingredients to St. Louis and its beer to more consumers. The spending comes as the Trump administration pushes companies to increase production of food, beverages, and other goods in the U.S.
Conagra to invest in supply chain amid production revamp
Conagra Brands plans to increase investments to support supply chain resiliency as part of the roughly $450 million earmarked for capital expenditures in fiscal year 2026, per a July 10 earnings call presentation. The food maker faced several supply challenges in FY25, which ended May 25, including stalled chicken production, a frozen vegetable shortage, and tariffs on tinplate steel used to make canned food containers. “We expect these incremental investments to more than offset the favorable lapping impact of fiscal ’25 supply challenges,” CFO David Marberger said on a July 10 earnings call. Conagra did not respond to an email from Supply Chain Dive on how much of its planned capex would go toward its supply chain specifically.
McCormick reaches $750M deal to expand condiments business in Latin America
McCormick & Co. is spending $750 million to become the majority owner of a joint venture in Mexico as the spice and condiment giant expands its presence in Latin America. The company acquired an additional 25% stake from Grupo Herdez in McCormick de Mexico, a joint venture formed in 1947. The deal increases McCormick’s ownership stake to 75%. The transaction comes as McCormick sees strong demand for its mayonnaise in Mexico. The company is looking to capitalize on new growth opportunities for its condiments business both in the country and in the broader Latin American market.
WK Kellogg signs legal agreement to remove artificial dyes from cereals
WK Kellogg signed a legal agreement with the Texas attorney general’s office to remove artificial dyes from Froot Loops and its other cereals by the end of 2027. Texas Attorney General Ken Paxton said the move represents the first time a food company has gone beyond a verbal commitment and signed a legally binding agreement to remove petroleum-based colors. WK Kellogg announced it would remove artificial dyes from cereals in late July. Texas has opened investigations into food companies, including WK Kellogg and Mars, this year for allegedly failing to live up to previous commitments around phasing out artificial dyes.
Grocery & Restaurants
Cracker Barrel faces social media pushback on new logo, brand refresh
Social media users aren’t happy about Cracker Barrel Old Country Store’s new logo, calling it “soulless,” “bland” and “generic” since the restaurant chain unveiled it on Tuesday as part of a larger brand refresh. The new logo removes the image of a man leaning against a barrel that was prominently featured in the original, leaving behind just the words “Cracker Barrel” against a yellow background. The phrase “old country store” has also been removed. The company said the colors in the logo were inspired by the chain’s scrambled eggs and biscuits. The change is part of a “strategic transformation” to revitalize the brand that started back in May 2024. Under that mission, Cracker Barrel’s brand refresh includes updates to visual elements, restaurant spaces and food and retail offerings. However, many social media users have criticized the new logo, especially those in conservative circles. The official X account for the Democratic party wrote on Thursday, “We think the Cracker Barrel rebrand sucks too.”
Starbucks expands test of coconut water beverages
Starbucks will expand its test of coconut water beverages to hundreds of more stores, as it leans further into health and wellness. Starting Thursday, the coffee giant will test its Coco Matcha and Coco Cold Brew drinks in more than 400 stores across major cities including New York, Los Angeles and the greater Chicago area. The drinks layer matcha foam or cold brew foam over coconut water. Starbucks first tested the coconut beverages in New York City as a part of its “Starting Five” innovation program, in which it tests out new ideas in five coffeehouses and seeks feedback from its baristas and customers before pushing those ideas into additional stores.
Home & Road
Home Depot misses earnings and revenue; will open 13 stores in 2025
The Home Depot Inc. reported profit and sales growth that came in below Wall Street expectations but reaffirmed full-year guidance and is opening new stores. The home improvement giant reported net earnings of $4.6 billion, or $4.58 per diluted share, for the quarter ended Aug. 3, with adjusted earnings of $4.68 per share, basically even with net earnings of $4.6 billion, or $4.60 per share and $4.67 per adjusted share, in the same period of fiscal 2024. Sales rose 4.9% year-over-year to $45.28 billion from $43.2 billion. Same-store sales rose 1.4% in the U.S. and 1% across the U.S., Canada, and Mexico. Wall Street analysts had expected quarterly earnings per share of revenue of $4.71 and revenue of $45.36 billion. The second quarter of fiscal 2025 marked the first time Home Depot missed quarterly forecasts for both earnings and revenue since 2014.
Ace Hardware on track to open 175 new stores by end of 2025
Ace Hardware, the Illinois-based hardware retailer, has opened 100 new stores so far this year and is on pace to open more than 175 new locations by the end of 2025. Over the past five years, Ace has opened more than 930 new stores as it continues to expand its presence nationwide. The chain operates almost 5,200 retail stores in the United States. Ace says its new store growth is fueled by a blend of existing retailers opening additional locations, competitor stores converting to the brand, and new entrepreneurs joining the cooperative for the first time. “This milestone reflects the continued strength of our local ownership model, our commitment to service, and the trust our customers place in Ace,” said Andy Enright, senior VP of retail strategy and operations at Ace Hardware.
Bed Bath & Beyond says company won’t open any California stores
Bed Bath & Beyond fans in California, nostalgic for the in-store experience, will have to make do with the company’s website after an executive said the retailer won’t open any stores in the Golden State. Marcus Lemonis, executive chairman of Bed Bath & Beyond, said in a statement on Aug 20 that the business environment in California makes it difficult for retailers to operate. “California has created one of the most overregulated, expensive, and risky environments for businesses in America,” he said. “It’s a system that makes it harder to employ people, harder to keep doors open, and harder to deliver value to customers.” “This decision isn’t about politics — it’s about reality,” Lemonis added.
Jewelry & Luxury
Claire’s strikes $140M private equity takeover deal, pauses store liquidations
Claire’s has paused store closures in light of a deal, announced on Aug 20th, to sell its North America operations. The retailer had plans to shutter 700 stores and was mulling liquidation of its entire 1,500-store footprint in North America. An affiliate of private equity firm Ames Watson has agreed to acquire the tween accessories retailer, including its intellectual property, for $104 million in cash plus a $36 million seller note, per court documents. The firm will also assume certain liabilities, including cure costs, and pay some rent and wages for “a significant number of [Claire’s] employees.” Claire’s filed for bankruptcy earlier this month.
Italy’s Valentino hires fashion industry veteran Bellini as CEO
Valentino has appointed industry veteran Riccardo Bellini as new chief executive, it said on Aug 20, hiring him from the Qatari fund Mayhoola, which is the Italian fashion house’s parent company. Bellini, who will take up the role at the start of September, replaces Jacopo Venturini, whose departure was announced last week. The appointment is part of the large-scale change in management and artistic direction sweeping across the fashion industry as it grapples with a deep slump in key U.S. and Chinese markets.
U.S. Swiss Watch Imports Soar in Effort to Beat Tariffs
Swiss watch exports to the United States jumped 45% year-over-year in July, as manufacturers rushed to beat the 39% tariff on Swiss imports that took effect Aug. 7, according to statistics compiled by the Federation of the Swiss Watch Industry (FH). “This was a move to build up local stocks and provides little insight into the actual state of the market,” the group said in the report. The surge in shipments to the U.S. caused overall Swiss watch exports to rise 6.9% in July year-over-year, to nearly 2.4 billion Swiss francs. Without the big jump in U.S. deliveries, overall Swiss exports would have sunk 0.9%, FH said.
Michael Hill International Names New CEO
Michael Hill International, the Brisbane-based jeweler that has over 250 stores in Australia, New Zealand, and Canada, has appointed Jonathan Waecker its new CEO, effective Aug. 27. He succeeds Daniel Bracken, who died in February. Waecker was most recently chief customer and sales officer at the Warehouse Group, one of New Zealand’s largest retailers. He has also worked as vice president for marketing communications for Yahoo!, global marketing director at Zynga, and director of franchise management and global brand strategy for Walt Disney Company.
Office & Leisure
Car Toys to Sell Most of its Stores, Enters Chapter 11
Car Toys Inc., the 47-store, Seattle-based car audio chain, announced it has entered into a voluntary Chapter 11 proceeding and plans to sell the majority of its stores to multiple buyers. The 38-year-old chain plans to sell stores to a combination of tenured employees and local competitors. Car Toys plans to conclude an asset sale of 35 of its stores to five different parties consisting of highly tenured employees and regional competitors, it said. Car Toys is the largest independent car audio and electronics retailer in the US.
Fast-Growing Backyard Games Pioneer CROSSNET Gets Acquired
CROSSNET, a trendsetter in backyard games, has been acquired by the Canadian outdoor living company Vivere, Ltd., for an undisclosed amount. The game received a boost during the pandemic, as more Americans sought backyard entertainment. CROSSNET also benefited from institutional sales to schools, which incorporated it into physical education programs. Vivere owns approximately 30 backyard games, including bestselling Ladder Golf, and has a presence in the US, Europe, and Australia, according to Gary Pepper, sales manager for Vivere.
Technology & Internet
Best Buy launches third-party marketplace
Best Buy is launching a third-party marketplace, as it tries to bulk up the variety of merchandise it offers and reverse slower sales. Starting on Tuesday, shoppers who go to Best Buy’s website and app will see products and brands that weren’t available there before, including more tech-related accessories like custom video game controllers and some nontech items including seasonal decor and sports collectibles. The company’s online marketplace riffs off those of other retailers, such as Amazon and Walmart, by relying on third-party sellers to stock, sell and ship inventory and taking a cut of their sales in the form of a commission.
Meta unveils Hypernova smart glasses with display, wristband at Connect
Meta is planning to use its annual Connect conference next month to announce a deeper push into smart glasses, including the launch of the company’s first consumer-ready glasses with a display, CNBC has learned. That’s one of the two new devices Meta is planning to unveil at the event. The company will also launch its first wristband that will allow users to control the glasses with hand gestures, the people said. Connect is a two-day conference for developers focused on virtual reality, AR and the metaverse. The glasses are internally codenamed Hypernova and will include a small digital display in the right lens of the device. The device is expected to cost about $800 and will be sold in partnership with EssilorLuxottica.
Finance & Economy
Dow surges more than 800 points after Fed’s Powell hints at rate cut
Wall Street had one of its best days in months on Friday, Aug 22, after Federal Reserve Chair Jerome Powell opened the door to monetary policy makers lowering interest rates. The Dow Jones Industrial Average climbed 845 points, or 1.9%, to close at 45,632, while the S&P 500 gained 97 points, or 1.5%. The tech-heavy Nasdaq Composite gained 396 points, or 1.9%. In an annual address from Jackson Hole, Wyoming, Powell said Friday that current economic conditions “may warrant adjusting our policy stance.” Despite pressure from President Trump, the Fed has held off on cutting rates this year as it monitors the impact of the Trump administration’s tariffs on inflation and the labor market. Powell’s speech, however, may be the strongest indication yet that policy changes could be afoot.
The US takes a 10% stake in Intel as part of Trump’s big tech push
The United States government is making an $8.9 billion investment in Intel common stock, giving the Trump administration a roughly 10% stake in the struggling chipmaker, Intel, and the president announced on Friday, Aug 22. “It is my Great Honor to report that the United States of America now fully owns and controls 10% of INTEL, a Great American Company that has an even more incredible future,” Trump wrote in a Truth Social post. The announcement came after Trump said earlier in the Oval Office on Friday that the CEO of Intel had agreed to such a deal, adding that he hopes to strike similar deals with other companies in the future.
U.S. manufacturing is picking up — but so are consumer prices
U.S. manufacturing is expanding at the fastest pace in three years, buoyed by stronger demand. The S&P Global U.S. Manufacturing PMI, an index based on questionnaires sent to purchasing managers at around 800 manufacturers, rose to 53.3 in August. That’s up from 49.8 in July, well above market expectations of 49.5. It’s the largest monthly rise since May 2022. The figures are a “flash” of the index, meaning they’re based on about 85% of usual survey responses. “Companies across both manufacturing and services are reporting stronger demand conditions,” Chris Williamson, chief business economist at S&P Global Market Intelligence, said in a statement.
