It’s been another week with far more retail news than there is time in the day. Below, we break down some things you may have missed during the week and what we’re still thinking about.
From Oscar the Grouch-inspired trash bags to chatter about a potential sale of Puma, here’s our closeout for the week.
What you missed
Versace deal closes
Capri Holdings on Tuesday announced that it completed a sale of Versace to Prada S.p.a. For nearly $1.4 billion in cash.
"With the successful completion of the sale of Versace, we plan to use the proceeds to repay the majority of our debt, which will substantially strengthen our balance sheet,” Capri CEO John Idol said in a statement. “We remain focused on executing our strategic initiatives across Michael Kors and Jimmy Choo to maximize the potential of our iconic brands."
Two days later it was reported that Versace Creative Director Dario Vitale is leaving the brand on Dec. 12 after being appointed to the role in March.
Somnigroup proposes supplier takeover as bedding, furniture market flounder
Leggett & Platt this week said its board is reviewing an unsolicited proposal from bedding giant Somnigroup International to acquire the 140-year-old company for $12 per share. The manufacturer of mattresses and other goods has been a Somnigroup supplier for years.
On Monday, Somnigroup – formed after Tempur Sealy acquired Mattress Firm early this year for $5 billion – disclosed its letter to Leggett & Platt regarding the proposal, which Somnigroup said reflects more than a 30% premium above Leggett & Platt’s average closing price in the previous 30 days. “We hope that you share our enthusiasm,” Somnigroup CEO Scott Thompson wrote, and asked for a response by Dec. 22.
Several analysts favor the idea, noting potential synergies. “We also think the timing of this deal makes it more interesting,” UBS analysts led by Dan Silverstein said in a Monday client note. “It could occur just as U.S. bedding and furniture demand is starting to turn, providing a cyclical uplift to both companies.”
Retail therapy
Glad revives “Don’t Get Mad, Get Glad” campaign with Oscar
Trash bag and food wrap brand Glad has relaunched its “Don’t Get Mad. Get Glad.” marketing campaign, this time featuring the grumpy Oscar the Grouch character from Sesame Street. The effort centers on a musical number that remixes Oscar’s song, “I Love Trash.”
Along with the campaign, Glad created a limited-edition Oscar-inspired trash bag tote, per a Tuesday press release. The green Oscar fur-covered bag can be won via a social media giveaway from Glad.
Additionally, Glad in April will make a special edition version of its ForceFlex trash bags available at Walmart featuring Oscar the Grouch-branded boxes.
What we’re still thinking about
5.7%
That’s how much sales in the apparel category grew on Black Friday compared to last year, with the category jumping 6.1% online and 5.4% in stores, according to data from Mastercard. Jewelry also saw strong gains on the shopping holiday, with sales up 2.75% year over year.
Overall, U.S. retail sales excluding auto grew over 4% versus the same period last year, while online sales surged 10.4%. In-store sales grew by a more modest 1.7%.
"Consumers are showing incredible savviness this season,” Michelle Meyer, chief economist at the Mastercard Economics Institute, said in a statement. “They're navigating an uncertain environment by shopping early, leveraging promotions, and investing in wish-list items.”
What we’re watching
Could Anta Sports buy Puma?
Bloomberg sparked chatter last week with a report that Chinese activewear company Anta Sports is considering a bid for Puma. The story, which cited anonymous sources, said Anta Sports could team up with a private equity firm to make an offer for the German brand.
Anta Sports did not immediately respond to a request for comment on the possibility, though a Puma spokesperson said, “We are not commenting on this.”
Anta Sports made 38.5 billion Yuan ($5.45 billion) in the first half of 2025 and completed its acquisition of outdoors brand Jack Wolfskin in the period. Acquisition questions surrounding Puma come amid a turnaround effort at the German brand that has included layoffs, a CEO change and the planned exit of less productive wholesale partnerships.
Speculation about Anta Sports as a possible acquirer comes months after rumors swirled that hometown rival Adidas could be eyeing a purchase of Puma. Puma declined to comment on those reports back in September, as did Adidas.
