US Online Sales Soar to $24.1 Billion 🚀

Ferrero, the maker of Nutella and Kinder chocolates, will acquire WK Kellogg for $3.1 billion, uniting iconic cereal brands like Froot Loops, Frosted Flakes, and Special K with its global confectionery empire, marking one of the largest food industry deals of the past year.

💲Money Time: The deal offers shareholders $23 per share—a roughly 40% premium—and values the cereal maker’s enterprise at $3.1 billion, including debt

🍫 Sweet Tooth for America: Ferrero has focused on expanding its presence in the U.S. through acquisitions. It previously acquired Wells Enterprises, known for Blue Bunny ice cream, and earlier struck a $2.8 billion deal to buy Nestlé’s U.S. chocolate business

🛒 Shopping Spree: According to Forbes, Ferrero has spent over $13 billion in the past decade acquiring at least 21 companies across nine countries

Online spending in the U.S. surged to $24.1 billion between July 8 and 11, as deep discounts and extended sales events drove record demand, according to Adobe Analytics.

Amazon’s 96-hour sale window helped solidify Prime Day as a major retail event, alongside those of Walmart, Target, and Best Buy. The four-day period saw 30.3% year-over-year growth, outpacing earlier forecasts of 28.4%.

📱 Scroll, Tap, Buy: Mobile shopping ruled Prime Day, accounting for 53.2% of online sales, topping Adobe’s forecast of 52.5%

💸 Discount Mania: Average discounts across U.S. retailers ranged between 11% and 24%, slightly up from the earlier forecast of 10%–24%

👕 Closet Cleanout: Apparel saw the steepest markdowns at 24%, compared to 20% last year, the biggest year-over-year jump

🔌 Still Shocking: Electronics stayed consistent at 23% off, roughly in line with last year’s bargain levels

The Federal Trade Commission is stepping up enforcement against companies making false or unverified “Made in USA” claims, warning businesses to follow labeling rules or face steep penalties. On July 8, the agency issued warning letters to four companies and flagged Amazon and Walmart over third-party listings with misleading labels.

According to FTC rules, products must be “all or virtually all” made in the United States to carry the domestic origin label. Yet some companies have skirted these rules, leading to civil penalties, including $129,000 for Instant Brands and a record $3.2 million fine for Williams-Sonoma over mislabeling imported goods.

Walmart is recalling approximately 850,000 Ozark Trail 64 oz stainless steel water bottles due to a defect that can cause the lid to eject forcefully, potentially injuring users.

According to the U.S. Consumer Product Safety Commission, three people have been hurt, including two who suffered permanent vision loss after being struck in the eye.

The issue arises when perishable or carbonated beverages are stored in the bottles over time, building pressure that causes the lid to pop off violently upon opening. The affected bottles, sold nationwide since 2017, feature a silver base and black screw-on cap, and can be identified by model number 83-662 (noted on packaging).

Meta Platforms has acquired just under 3% of EssilorLuxottica, the world’s largest eyewear maker, in a $3.5 billion deal aimed at advancing its AI-powered smart glasses.

The move strengthens Meta’s partnership with the maker of Ray-Ban and Oakley, as the tech giant accelerates efforts to own both the hardware and distribution of its augmented reality products.

The investment also provides Meta with deeper access to global manufacturing and supply chains, which are key to scaling its AI glasses for mass adoption. Meta has already launched Ray-Ban and Oakley smart glasses in collaboration with EssilorLuxottica, and may increase its stake further. Shares of EssilorLuxottica jumped nearly 7% following the announcement.

U.S. wholesale sales declined slightly in May, falling 0.3% from April to $697.2 billion, according to data from the Census Bureau. Despite the monthly dip, sales remained 4.8% higher compared to May 2024, indicating continued year-over-year growth.

Meanwhile, total inventories also fell 0.3% to $905.5 billion, marking the second consecutive month of contraction as businesses continued to adjust stock levels amid evolving demand patterns.

The inventories-to-sales ratio—a key gauge of supply chain efficiency—narrowed to 1.30 in May from 1.34 a year earlier, suggesting wholesalers are managing inventory more tightly despite economic growth.

Amazon UK has partnered with delivery startup GoPuff to offer grocery deliveries in as little as 15 minutes. The service, powered by GoPuff’s network of micro-fulfilment centers, is now live in major cities including London, Manchester, Leeds, and Bristol, following a pilot in Birmingham and Salford. Customers can order snacks, baby products, alcohol, and household essentials 24/7 via the Amazon platform.

The partnership expands Amazon's growing grocery delivery footprint in the UK, which already includes tie-ups with Morrisons, Iceland, and Co-op. Amazon’s director of grocery partnerships, Russell Jones, said the move aims to give customers faster, more convenient options for everyday shopping.

Target filed more trademark applications than any other U.S. company in 2024, marking its third consecutive year at the top.

The retailer submitted 525 filings, reflecting its ongoing expansion into private-label brands like Cat & Jack, Good & Gather, and the newly launched Dealworthy and Good Joy Garden. These owned brands now contribute roughly $30 billion annually.

Target was trailed by Aldi (255), Walmart (211), and Lidl (177) in total filings. The surge highlights how retailers are increasingly focusing on their own brands to drive margins, loyalty, and differentiation in a competitive retail landscape.

Fast-fashion giant Shein has confidentially filed for an IPO in Hong Kong, according to multiple reports, signaling a shift in strategy after failed attempts to go public in the U.K.

The company’s original bid to list in London has been stalled for 18 months due to disagreements between the UK and Chinese authorities over disclosure language tied to Shein’s operations in Xinjiang. Chinese regulators rejected the UK-approved version of Shein’s prospectus.

The move comes as Shein faces added challenges, including the end of the U.S. de minimis rule for low-cost imports and ongoing EU scrutiny over consumer rights violations.

Kraft Heinz is preparing to split its business in a major shake-up, nearly a decade after its 2015 merger orchestrated by Warren Buffett’s Berkshire Hathaway and 3G Capital.

According to a Wall Street Journal report, the company plans to spin off a large part of its traditional grocery brands—such as Kraft cheeses, Jell-O, and Maxwell House—into a standalone entity that could be valued at up to $20 billion, while retaining higher-growth categories like Heinz ketchup, Grey Poupon mustard, and hot sauces.

Kraft Heinz has struggled to offload underperforming brands in recent years and is now focusing on condiments and faster-growing segments to revive its relevance.

Fast Retailing, the Japanese parent of Uniqlo, says U.S. tariffs set to kick in from August will significantly impact its business later this year, prompting price hikes on select products. CFO Takeshi Okazaki acknowledged that the company won’t be able to absorb all cost increases, especially for fall and winter collections. Most Uniqlo items sold in the U.S. are produced in Southeast Asia and South Asia.

Despite the looming tariff hit, Fast Retailing maintained its full-year profit forecast of ¥545 billion ($3.7 billion), thanks to early shipments ahead of the tariff deadline. But Q3 profit came in below expectations at ¥146.7 billion ($1B), missing analyst estimates.

Claire’s Stores Inc. is considering a potential bankruptcy filing for its U.S. operations, according to Bloomberg. The retailer has been struggling with weak consumer demand, higher import costs driven by U.S. tariffs, and a significant debt load.

Claire’s has received interest in its European assets, but no final decisions have been made. The company previously filed for bankruptcy in 2018 and has since been controlled by creditors, including Elliott Management and Monarch Alternative Capital. Claire’s recently deferred an interest payment on its $477 million term loan due in December 2026.

Ulta Beauty has officially entered the UK market through its acquisition of British luxury beauty retailer Space NK. The deal, financed through Ulta’s available cash and existing credit facility, marks a significant step in the U.S. retailer’s international expansion strategy

While the transaction amount remains undisclosed, the company clarified it won’t materially impact its 2025 financials or interfere with capital plans like its ongoing share buyback program.

Space NK, which operates 83 stores across the UK and Ireland and an online storefront, will continue to function as an independent subsidiary under Ulta’s ownership. Its current leadership, including CEO Andy Lightfoot, will remain in place.