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Consumer & Retail Report #14: 10/9 Recap
Summary of the Week in Consumer and Retail
While I know many of you voted last week that this section of the newsletter provided value, this will actually be my last “Weekly Recap.” I’m taking on more responsibilities — to be announced soon — and need to cut in areas where I can allocate more time for my family.
Money can always be made, but time spent with family can’t be bought retroactively.
Hopefully, those of you with families or trying to start a family can understand.
All other sections of this newsletter will continue as usual with no set cadence, and if you’ve been a reader so far and still find value, I’d appreciate you sharing this Substack with them so they can subscribe and benefit from it as you have.
Thanks again for your support this whole time.
Table of Contents:
Peloton (PTON) will put bikes in every Hilton-branded hotel in the U.S. (CNBC)
Disney (DIS) reaches deal with Dish Network (DISH) to restore channels (WSJ)
Ford Motor (F) planning price hikes on its F-150 Lightning Pro for the 2023 model year by nearly 11% (Reuters)
Peloton (PTON) plans to cut addition 500 jobs, about 12% of workforce, in fourth round of layoffs this year (WSJ)
DraftKings (DKNG) and Disney's (DIS) ESPN are close to signing exclusive partnership (The Action Network)
Freshpet (FRPT) activists push pet-food maker to explore sale (Barron’s)
Cal-Maine Foods (CALM) names Sherman Miller as CEO (Businesswire)
Kura Sushi (KRUS) names Jeff Uttz as its new CFO (Restaurant Dive)
Utz Brands (UTZ) announces CEO succession plan (Businesswire)
Blue Apron (APRN): Barry Salzberg increased active stake to 4.65% (prior ~0.3%) (Filing)
Lazydays (LAZY) announces chief financial officer transition (PR Newswire)
Poshmark (POSH) to be acquired by Naver (Businesswire)
Duolingo (DUOL) acquires design and animation studio Gunner (Global Newswire)
InterActiveCorp (IAC) to sell its Bluecrew business unit to EmployBridge (Global Newswire)
Constellation Brands (STZ) reached an agreement with The Wine Group to divest a portion of its mainstream and premium wine portfolio (Global Newswire)
Walmart (WMT) to buy Alert Innovation (Grocery Dive)
Blue Apron (APRN) entered into an Equity Distribution Agreement to issue/sell up to $14,999,425 of its Class A common stock (Filing)
AutoZone (AZO) authorizes an additional $2.5 bln for share repurchases (Global Newswire)
Supreme Court declines to hear Apple’s (AAPL) second attempt to revive Qualcomm (QCOM) patent dispute (Reuters)
Bed Bath & Beyond (BBBY) creditors organize ahead of bond talks (WSJ)
Altria (MO): Juul Labs will enter financing discussions for potential bankruptcy (Bloomberg)
National debt reaches $31 trillion and higher interest rates could add $1 trillion to debt over 10 years (NYT)
Until next time,
Paul Cerro | Cedar Grove Capital
Personal Twitter: @paulcerro
Fund Twitter: @cedargrovecm