TikTok Ban Delayed Again 📱

Retail sales in the U.S. declined 0.9% in May, a steeper drop than the 0.6% expected, according to Commerce Department data released Tuesday. The decline marks the second straight monthly drop, following a 0.1% fall in April.

The pullback was driven by falling sales in autos (-3.5%), building materials (-2.7%), gas stations (-2%), and restaurants (-0.9%). These declines came despite improved consumer sentiment readings for the month.

U.S. President Donald Trump has signaled a third extension of the TikTok ban, granting ByteDance an additional 75 days to find a U.S. buyer. The delay follows a Supreme Court ruling that mandates a U.S. divestiture or a nationwide ban, which was originally set to take effect on June 19.

Analysts suggest the app’s fate is now tied to broader U.S.–China negotiations. Trump has linked TikTok’s future to trade talks involving rare earth minerals, student visas, and tariff adjustments. Experts believe the app is being used as leverage in diplomatic exchanges.

ByteDance may ultimately be forced to sell either TikTok’s U.S. operations or its core algorithm, which would affect how content is served to users globally. Any breakup could destabilize TikTok’s economic ecosystem, which is heavily concentrated in the U.S.

With no final buyer and mounting regulatory uncertainty, TikTok's long-term status in the U.S. remains unresolved.

Temu’s U.S. sales fell over 25% from May 11 to June 8 compared to a year earlier, according to Bloomberg Second Measure, as the e-commerce platform scaled back its aggressive ad campaigns and shifted focus to overseas markets. The sales decline contrasts with growth rebounds at Amazon, Walmart, and Shein.

The drop follows President Trump’s move to close a tariff exemption loophole on low-value parcels, a key driver of Temu’s previous price advantage. The company has since slashed daily ad output from thousands to fewer than ten in June, data from AppGrowing shows.

While Temu’s U.S. strategy appears to be slowing, Shein has maintained more consistent ad activity and returned to sales growth in early June. Temu, which previously relied on Super Bowl-level ad blitzes, is now redirecting resources to Europe, where it sees better prospects.

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Meta has partnered with sports eyewear brand Oakley to introduce a new line of AI-powered smart glasses, branded as the Oakley Meta HSTN. The device features a high-resolution camera, open-ear speakers, water resistance, and Meta AI integration for real-time assistance.

The glasses will debut at upcoming events, including Fanatics Fest and UFC International Fight Week. Preorders for the $499 limited-edition model open on July 11, with additional models starting at $399 set to launch later this summer.

This is Meta’s first collaboration under its new multi-year agreement with EssilorLuxottica, the parent company of Ray-Ban and Oakley. Meta has sold over 2 million pairs of its Ray-Ban smart glasses and plans to scale up to 10 million units annually by 2026.

Struggling under $2 billion in debt and rising tariff pressures, home décor retailer At Home has filed for Chapter 11 bankruptcy and will shutter 26 locations by September. The Texas-based company, owned by private equity firm Hellman & Friedman, missed an interest payment in May and has since entered a restructuring agreement to transfer ownership to its lenders.

The bankruptcy filing cites inflation, weak home goods demand, and mounting import tariffs as key pressures. CEO Brad Weston said the new plan aims to “increase the resilience” of the business amid volatile trade conditions. At Home currently operates over 200 stores nationwide, but analysts say low consumer confidence and a soft housing market continue to weigh heavily on the sector.

Home Depot has entered the race to acquire GMS Inc., a major distributor of building products, triggering a potential bidding war with Brad Jacobs’ QXO Inc. The move follows QXO’s unsolicited $5 billion cash offer earlier this week, valuing GMS at $95.20 per share.

GMS, based in Tucker, Georgia, operates over 320 distribution centers and 100 tool service locations across the U.S. The company supplies wallboard, ceilings, steel framing, and related construction materials to both residential and commercial contractors.

The acquisition would expand Home Depot’s Pro customer base and delivery capabilities, aligning with its broader strategy to boost revenue through store investments and service integration.

The bid underscores intensifying competition in the fragmented construction supply market. Both QXO and Home Depot are seeking to consolidate market share and leverage scale, tech, and logistics to attract professional customers. GMS has confirmed receipt of the offer and is evaluating its options.

Japanese sportswear brand ASICS plans to increase its local manufacturing share in India from 30% to 40% over the next few years, in response to tightened import regulations on footwear.

ASICS has suspended imports and is shifting production locally to maintain supply continuity. The company met India’s 30% local sourcing requirement for single-brand retail and is preparing to open its first company-owned store, with locations near Delhi and Mumbai under consideration.

Currently operating around 125 franchise stores, ASICS aims to add three new outlets monthly through the end of 2025. The brand expects revenue in India to rise 35–37% in FY 2024–25, building on a 26% increase last year that brought earnings to ₹4.28 billion ($49.7 million)

Nike has postponed the launch of its upcoming women’s activewear line, developed in partnership with Kim Kardashian’s Skims, which was originally scheduled for spring 2025. Bloomberg reports that the delay is due to ongoing production issues, although Nike still expects the brand, called NikeSkims, to debut later this year.

The collection was first announced in March and is intended to offer high-performance training apparel, with plans to expand into footwear and accessories. The initial release will be available via Nike and Skims' websites and select U.S. retail stores, with a broader international rollout planned for 2026.

The partnership has been in development since late 2023 and is a key move in Nike’s strategy to strengthen its women’s segment. An updated launch timeline has not yet been confirmed.

Walmart has agreed to pay $10 million to settle a civil lawsuit brought by the U.S. Federal Trade Commission, which accused the retailer of allowing fraudsters to exploit its money transfer services. The FTC alleged that Walmart ignored clear warning signs that scammers were using in-store cash pickups to defraud consumers out of hundreds of millions of dollars.

The settlement, filed in federal court in Chicago, also requires Walmart to enhance safeguards and stop processing transactions it suspects are fraudulent. However, Walmart did not admit to any wrongdoing.

The case, filed in 2022, highlighted scams involving impersonations of IRS agents, relatives in distress, and fake lottery winnings.

Kroger has raised its full-year 2025 identical sales growth forecast to 2.25–3.25%, up from a prior range of 2–3%, as more U.S. shoppers shift to private-label and promotional items amid inflation and tariff-related uncertainty. The company also beat Q1 expectations, posting 3.2% comparable sales growth and earnings of $1.49 per share.

To stay competitive, Kroger said it has already reduced prices on over 2,000 items and plans further promotions. Interim CEO Ron Sargent noted price hikes would be a "last resort" despite rising input costs tied to Trump’s tariff policies.

Kroger will close 60 underperforming stores over the next 18 months, taking a $100 million impairment charge. The company is also reassessing its ecommerce strategy after Ocado, its British online partner, drew down its final letter of credit.

Britain’s grocery watchdog has launched a formal investigation into Amazon over alleged violations of supplier payment rules under the Groceries Supply Code of Practice. The Groceries Code Adjudicator (GCA) stated that it is investigating whether Amazon failed to pay suppliers on time between March 2022 and June 2025.

The investigation follows multiple complaints and prior warnings from the GCA. The regulator will assess Amazon’s payment systems, handling of invoice disputes, and use of deductions in negotiations, which may have imposed unexpected costs on suppliers.

Amazon said it will cooperate fully with the probe and reiterated its commitment to the code. Last year, fewer than half of the surveyed suppliers said Amazon consistently followed the rules, prompting the GCA to demand improvements.

The GCA can impose fines of up to 1% of a retailer’s UK turnover if violations are confirmed. Other major grocers under the code include Tesco, Sainsbury’s, and Marks & Spencer.

DHL Express has suspended its Canadian operations as a strike by over 2,100 unionized employees represented by Unifor enters its third week. Any shipments not delivered by June 20 will be held in the carrier’s network until service resumes.

The suspension follows new Canadian labor legislation that bars the use of replacement workers during strikes or lockouts. DHL said the ban undermines its ability to operate and has requested government intervention. Unifor criticized the appeal, accusing DHL of sidestepping collective bargaining.

Negotiations remain stalled over wages and working conditions. The suspension affects only DHL Express, not other DHL divisions like Global Forwarding or Supply Chain. Retailers are now rerouting shipments through FedEx and other carriers.

Amazon has opened a 2.8-million-square-foot robotics-enabled fulfillment center in Charlton, Massachusetts, as part of its ongoing investment in automation and regional logistics infrastructure. The four-story, all-electric “first mile” facility employs over 1,000 full-time workers and stores up to 32 million items, ranging from books to electronics.

The Charlton site is designed to reduce processing times by up to 25%, improve shipping accuracy, and increase same-day and next-day delivery capacity. It also supports Amazon’s goal to cut delivery costs by 25% during peak seasons.

The facility features advanced robotics that assist with lifting and moving inventory, working in tandem with human employees. Amazon estimates these next-generation centers will require 30% more staff in maintenance and engineering roles.

This newsletter was curated by Shyam Gowtham

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