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BFD Expert Voices - Retail Deals

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Data: Yahoo Finance; Chart: Axios Visuals

Americans returning to the office means fewer treats for their pets during the day — and that's not good for one of the biggest pet industry stocks, Axios' Nathan Bomey writes.

By the numbers: Online pet goods seller Chewy hit a new all-time low yesterday, about two-thirds below its 52-week high.

Go deeper: Read Thursday's Closer edition. 

1. Pandemic pet boom in the rear view

Sept. 18 — Ithaca Hummus plans to raise funding in the eight-figure range from a strategic investor in exchange for a minority equity stake, CEO Chris Kirby told Richard exclusively.

Why it matters: The hummus brand is at a growth inflection point and plans to "hit the gas" on expanding into new channels with new retailers, the CEO says.

Go deeper: Read Monday's Retail newsletter, plus Monday's Pro Rata on SoftBank's influx of cash following last week's Arm IPO.

2. Ithaca Hummus seeks strategic investor

Tubs of hummus sit in front of a white background.

Sept. 19 — E-commerce tech company Rokt remains on track to be IPO-ready this year after appointing industry vet Terry Bowen as president and COO, CEO Bruce Buchanan told Richard.

Why it matters: Encouraged by the green shoots of Arm and Instacart IPOs, Buchanan said the primary open question for Rokt's listing is timing.

Go deeper: Read Tuesday's Retail newsletter, plus Tuesday's Pro Rata on Instacart's public market debut.

3. Rokt to be IPO-ready by year-end

Illustration of a computer with a shop awning on the screen. 

Sept. 20 — Kroger's push with local products opens a pathway for investment for emerging brands, said CEO Rodney McMullen during his keynote in Groceryshop in Las Vegas this week.

Why it matters: Kroger's emphasis on local brands mirrors the successful strategy of Amazon-owned Whole Foods, which recently turned up the gas with an accelerator for emerging brands, Kimberly wrote.

Go deeper: Read Wednesday's Retail newsletter, plus Wednesday's Pro Rata on the potential resurrection of failed diabetes "unicorn" Intarcia.

4. Kroger sees local driving future investment

Illustration of a box of food donations with the vegan symbol on the front. 

Sept. 21 — Klaviyo's first-day IPO showing bodes well for companies seeking to tap the public markets in the months ahead, Kimberly wrote.

Why it matters: Consumer-focused IPOs are entering the public fray, and Birkenstock is set to take its stage with its IPO filing last week.

Go deeper: Read Thursday's Retail newsletter, plus Thursday's Pro Rata on WWE founder Vince McMahon setting the stage for his possible exit. 

5. Klaviyo IPO offers valuation benchmark

Illustration of a cursor arrow with a retail price tag

Happy Friday, Retail readers. Research associate Natalie Breymeyer here with your weekly digest.

🧩 Natalie's goal this weekend is to complete the puzzle that's taken over the living room coffee table.

🙏🏻 Thanks for reading and big thanks to copy editor Mickey Meece! Please ask your friends and colleagues to sign up.

September 22, 2023

1. Pandemic pet boom in the rear view