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Weekly Round Off With HTE 🔙✨
🌟 Hey there, dear readers! It's that time of the week again when we gather around to catch up on the latest and greatest in the Direct-to-Consumer (DTC) world. 🚀
So, let's get this party started! 🎉
Welcome back to another exciting edition of our DTC (Direct-to-Consumer) Insider newsletter. 📰 Our mission: to serve you the freshest news and insights straight from the heart of the DTC universe. 💡 With every update, we're arming you with the knowledge to be the smartest one in the room. 🤓
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📊 Brown-Forman Reports First Half Fiscal 2024 Results; 🔄 Revises Full Year Outlook
🛍️ Lululemon Shares Fall As Retailer Gives Tepid Holiday Outlook Despite Strong Start To Shopping Season
⏩The Weekly Closeout: Claire’s expands into Mexico and Squishmallows collabs with H&M📈
🍽️ Food Company Danone In Talks To Sell Its Michel Et Augustin Brand
💻 DTC Briefing: How Bearaby Drives Holiday Sales Without Offering Discounts
📊 Brown-Forman Reports First Half Fiscal 2024 Results; 🔄 Revises Full Year Outlook
6 December 2023, Business Wire
Brown-Forman Corp 📊 reported Q2 and H1 fiscal 2024 results. Q2 net sales 1% to $1.1B (-1% organic). Operating income 8% to $339M (+9% organic), EPS 6% to $0.50. H1 net sales 2% to $2.1B (+1% organic), operating income 1% to $666M (+1% organic), EPS 1% to $0.98. Despite slower growth, the company highlighted strong gross margin expansion. Notable contributors include new acquisitions 🍸 Gin Mare and Diplomático, and robust performance in Ready-to-Drink (RTD) 🍹.
Revised full-year outlook: 3-5% organic net sales growth, 4-6% organic operating income growth. Authorized $400M share repurchase program and increased quarterly cash dividend for the 40th consecutive year. 📈🥃📉 #BrownForman #FinancialResults
🛍️ Lululemon Shares Fall As Retailer Gives Tepid Holiday Outlook Despite Strong Start To Shopping Season
7 December 2023, CNBC
Lululemon exceeded Q3 expectations with adjusted earnings per share of $2.53 and revenue of $2.20 billion. Despite a strong start to the holiday season, the company's shares fell 3% in extended trading due to a cautious Q4 outlook. Lululemon expects Q4 sales between $3.14 billion and $3.17 billion, slightly below analyst estimates. CEO Calvin McDonald highlighted Black Friday as the "single biggest day" in the company's history.
Comparable sales rose 13%, with a 12% increase in North America and a 49% rise internationally. However, Lululemon incurred $72.1 million in impairment charges related to winding down Mirror, a connected fitness company it acquired during the pandemic. As part of a partnership with Peloton, Lululemon will no longer sell the Mirror device or produce content for its Studio app.
⏩The Weekly Closeout: Claire’s expands into Mexico and Squishmallows collabs with H&M📈
8 December 2023, Retail Dive
Claire's has expanded into Mexico with the opening of a flagship store in Mexico City, featuring a curated selection of products such as jewelry, fashion accessories, toys, tech items, and cosmetics. The 1,227-square-foot space aims to enhance the brand's reach through immersive experiences, according to Claire's President of Europe, Richard Flint.
Meanwhile, Rent the Runway has refinanced its credit agreement with Double Helix, a subsidiary of Temasek Holdings. The amendment reduces the company's minimum liquidity requirement from $50 million to $30 million, eliminates interest for six fiscal quarters starting Q4 2023, and establishes spend limits for inventory, operating, and marketing expenditures through fiscal year 2026.
🍽️ Food Company Danone In Talks To Sell Its Michel Et Augustin Brand
6 December 2023, Reuters
French food company Danone (DANO.PA) said on Wednesday that it is in exclusive talks with Italian chocolate firm Ferrero over the sale of Danone's Michel et Augustin brand, whose cookies, cheese, and charcuterie adorn the shelves of French supermarkets.
"Michel et Augustin is a much-loved brand, but it falls outside of our investment priorities, in the frame of our Renew Danone strategy," said Danone's group deputy chief executive Juergen Esser.
💻 DTC Briefing: How Bearaby Drives Holiday Sales Without Offering Discounts
5 December 2023, Modern Retail
Direct-to-consumer startup Bearaby stands out by refraining from offering discounts during the holiday season, believing it avoids a race to the bottom and aligns with its mission of selling responsibly made, sustainable products. Despite not participating in sales-heavy days like Black Friday, Bearaby reported a 4X increase in revenue during that week.
Instead of discounts, Bearaby focuses on new product launches during the holidays to drive revenue and build brand awareness. While some startups eventually relent on their discount-averse stance, Bearaby aims to maintain its commitment. The company uses a unique approach, encouraging consumers to "pause for one moment" before purchases, reducing returns, and emphasizing new product launches, particularly lower-priced items, to drive sales.
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As we wrap up this edition of our newsletter, we hope you found the blend of news and insights as invigorating as we did. The world of DTC and beyond continues to evolve, and staying informed is the key to success. Keep those entrepreneurial spirits high, and remember, we're here to keep you ahead of the game. 🚀🌟📰
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