Congress Turns Attention to Cargo Theft 🚚

Reckitt Benckiser has agreed to sell its essential home business to Advent International in a deal valued at up to $4.8 billion. The sale includes well-known household brands such as Air Wick, Mortein, Calgon, and Cillit Bang. Reckitt will retain a 30% stake in the business.

🚀 Future Plans: The move is part of Reckitt’s broader strategy to streamline its portfolio and focus on core health and hygiene brands like Lysol, Dettol, and Strepsils. The company is also reviewing strategic options for its baby formula business, Mead Johnson Nutrition.

📊 Sale Time: Upon closing, expected by year-end, Reckitt plans to distribute a special dividend of $2.2 billion to its shareholders. The company expects to incur $800 million in separation-related costs, with the majority of these costs to be paid in 2026.

U.S. retail sales rose 0.6% in June, beating expectations and marking a recovery from two months of declines. The rebound came amid economic uncertainty and rising tariffs, including a 25% duty on imported cars that had earlier boosted auto sales.

Analysts say consumer resilience is keeping the economy afloat, even as inflation rose to 2.7% annually in June—its highest since February—pushed up by tariff-induced cost hikes.

💸 Mixed Results: Excluding autos, sales rose 0.5%, with gains across categories like clothing and health care, though electronics and furniture saw declines due to import dependence.

💰 Tight Wallet: Spending remained focused on essentials, but consumers still indulged in some discretionary purchases, with restaurant sales increasing

📈 Positive Projections: Retailers are now eyeing the back-to-school season, with sales projected to rise 3.3% year-over-year to $33.3 billion

Senator Elizabeth Warren has introduced a new bill aimed at curbing price gouging by large corporations, citing the inflationary effects of President Donald Trump’s tariff policies. The Price Gouging Prevention Act of 2025 would empower the Federal Trade Commission and state attorneys general to take legal action against companies that impose excessive price hikes during market disruptions.

The bill requires companies earning over $100 million annually to disclose significant pricing changes in SEC filings, including detailed cost and margin data. Businesses with lower revenues would be exempt from litigation if they can justify cost-based price increases.

Cargo theft took center stage during a Senate Judiciary Committee hearing on organized retail crime, reflecting growing concern over supply chain vulnerabilities beyond traditional retail theft. Senator Chuck Grassley highlighted how criminal networks are increasingly targeting freight, citing a recent $500,000 heist involving Nike trains.

Witnesses have warned that theft is costing the U.S. economy tens of billions of dollars, with some estimates reaching as high as $35 billion annually, although the data remains inconsistent. The National Insurance Crime Bureau recorded a 27% rise in thefts last year, while railroads reported over $100 million in losses.

Industry leaders and law enforcement officials have highlighted the need for centralized coordination across local, state, and federal levels, citing fragmented reporting structures. Proposed legislation aims to establish more effective data-sharing frameworks and facilitate joint investigations.

Walmart will begin selling Vizio TVs exclusively under its own private label by the end of 2025, according to a Bloomberg report. The retail giant bought Vizio for $2.3 billion last year to bolster its advertising capabilities.

Walmart’s move to turn Vizio into a private brand is part of its broader effort to grow its advertising business. The retailer plans to integrate Vizio’s operating system into its existing private-label brand, onn., and is working on technology that makes television viewing a “shoppable” experience, allowing customers to purchase items directly while watching shows.

Vizio joins Walmart’s lineup of 90 private brands, more than 20 of which generate over $1 billion in sales annually. Advertising, although still accounting for less than 1% of Walmart’s $680 billion in annual revenue, is becoming a growing profit engine.

Canadian retailer Alimentation Couche-Tard has withdrawn its $46 billion takeover bid for Japan’s Seven & i Holdings, citing delays and resistance from the company and its founding Ito family. The move ends a year-long pursuit to acquire the global operator of 7-Eleven stores and marks a setback to Couche-Tard’s ambition of building a global convenience store powerhouse.

Seven & i had faced pressure from shareholders to streamline operations, but concerns over national security and cultural ties to the brand fueled opposition. The company even reclassified itself under Japan’s “core” economic security category and lobbied privately to block a foreign takeover.

Target will stop offering price matching on products from Amazon and Walmart, effective July 28, ending a long-standing policy that allowed customers to request price adjustments at the time of purchase or within 14 days. The company said most shoppers use the policy to match Target’s own prices rather than competitors’.

The decision comes as Target undertakes a broader turnaround effort in response to declining sales, reduced foot traffic, and a challenging retail environment shaped by tariffs and changing consumer behavior. The company is shifting focus to delivering value through its private labels, loyalty program Target Circle, and everyday low prices.

This move reflects a larger trend across retail, as companies adjust pricing strategies and promotions to stay competitive in a cautious spending climate.

PepsiCo reported better-than-expected second-quarter results, with revenue rising 1% to $22.73 billion and adjusted earnings per share reaching $2.12, topping analyst estimates. Net income, however, fell sharply to $1.26 billion from $3.08 billion a year earlier.

Despite weak consumer demand in North America, PepsiCo reiterated its full-year outlook and outlined a turnaround plan. The company is focusing on healthier snacks, multicultural brands like Siete and Sabra, and product relaunches for Lay’s and Tostitos centered on core ingredients. Domestic volume dropped across food and beverage segments, although Pepsi Zero Sugar recorded strong growth.

BlackRock has withdrawn from a consortium aiming to acquire a majority stake in TikTok's U.S. operations, according to a Reuters report. The group, led by non-Chinese investors including Susquehanna International Group, General Atlantic, and Andreessen Horowitz, has emerged as a leading bidder following a U.S. law passed in January mandating ByteDance to divest or shut down TikTok in the country.

The consortium is expected to take an 80% stake, with ByteDance retaining a minority share. BlackRock’s exit comes just weeks after President Donald Trump granted a third 90-day extension to ByteDance to complete the sale or face a U.S. ban.

The deal is part of a broader effort, brokered in part by Trump, to bring TikTok’s U.S. assets under American control.

Saks Global reported a 16% year-over-year decline in Q1 revenue to $1.6 billion, despite slightly beating its own expectations. The luxury retailer’s net loss widened by 38% to $232 million, and gross merchandise value fell 13% to $2 billion.

Inventories closed the quarter at $2.1 billion, with sales pressure compounded by payment delays to vendors and ongoing integration challenges following its $2.7 billion acquisition of Neiman Marcus Group last year.

While gross margins held steady at 44%, customer traffic and sales, especially at Saks Fifth Avenue, declined. Analysts have noted that Saks is losing market share to competitors such as Bloomingdale’s and Nordstrom. CEO Marc Metrick said the company anticipated short-term headwinds from merger costs, inventory issues, and cautious luxury spending.

AliExpress has introduced hourly delivery in the United Kingdom, starting with London. The service currently allows same-day delivery of packaged food, beverages, and household items. Online grocer Hungry Panda is the first seller using the service, which the platform aims to expand nationwide.

The move follows AliExpress’ recent rollout of Local+, a European fulfillment program that includes newly acquired warehouses in the UK, Spain, and Germany. The platform is also now open to UK-based sellers and suppliers, allowing them to reach millions of customers through faster, locally fulfilled shipping.

Products such as furniture, garden accessories, and kitchen items ordered from UK sellers can now be delivered within three days.

Walgreens shareholders have approved the $10 billion acquisition by private equity firm Sycamore Partners, with 96% voting in favor. The deal, expected to close in Q3 or Q4, will take Walgreens private for the first time in nearly a century.

Under the agreement, shareholders will receive $11.45 per share in cash, with a potential additional $3 per share tied to the future sale of VillageMD assets, bringing the total deal value to nearly $24 billion, including debt.

The move comes as Walgreens struggles with declining sales and profitability, having posted a $175 million net loss in Q3 and announcing plans to close 1,200 stores over three years

Chevron has completed its $53 billion acquisition of Hess Corp., clearing a major hurdle after an arbitration panel ruled against ExxonMobil’s claim to preemptive rights over Hess’s stake in Guyana’s prized offshore oilfields. The International Chamber of Commerce decision ends a year-long dispute that had delayed one of the biggest energy deals in recent years.

The acquisition gives Chevron significant oil and gas assets in Guyana, the Bakken shale, Southeast Asia, and the Gulf of America. Chevron CEO Mike Wirth stated that the deal enhances the company’s growth outlook over the next decade.

Exxon, which operates the Guyana project and had partnered with China’s CNOOC in challenging the deal, stated that it disagrees with the ruling but respects the arbitration process.