The Weekly Consensus™ brings to your inbox every Monday a summary of the major stories that impacted consumer businesses in the prior week.
Stocks close higher, clawing back much of the week’s losses in major recovery from Monday’s sell-off Stocks ticked up Friday, August 9th as the stock market built on its incredible comeback from Monday’s violent rout. The broad market index ended the week just shy of completely reversing its weekly losses. The S&P 500 advanced 0.47% […]
Story of the Week Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3% Job growth in the U.S. slowed much more than expected during July and the unemployment rate ticked higher, the Labor Department reported. Nonfarm payrolls grew by just 114,000 for the month, down from the downwardly […]
Story of the Week Google cancels plans to kill off cookies for advertisers After years of delay, Google says it will no longer cancel and replace third-party cookies — a practice long used by advertisers — for its internet browser Chrome. Cookies are “a small file or part of a file stored on a World Wide Web […]
Story of the Week VF sells Supreme for $1.5B VF Corp. is selling the Supreme brand to EssilorLuxottica for $1.5 billion, according to a securities filing Wednesday. The deal is expected to close by the end of the 2024 calendar year. Supreme generated $538 million in revenue during VF’s latest fiscal year, per the filing, […]
Story of the Week Saks Fifth Avenue parent company to acquire Neiman Marcus Group for $2.6B HBC, parent company of luxury retailer Saks Fifth Avenue, announced it has entered into a definitive agreement to acquire Neiman Marcus Group for $2.65 billion, according to a press release. The purchase will be funded with a combination of […]