Facing slumping sales, many retailers and CPGs are on the comeback trail—so much so that it’s become a competition of who can create the snappiest turnaround tagline. We’re tracking the hirings, firings, expansions, and coffee concoctions that’ve been core to recent revitalization efforts.

Nestlé

Nestlé said last week it’s axing 16,000 jobs, or about 6% of its workforce, over the next two years to contribute to cost savings as part of its “Fuel for Growth” turnaround initiative, as the world’s largest food company faces declining sales.

“We want to accelerate the transformation of the company,” CEO Philipp Navratil said on the company’s third quarter earnings call. “So we want to become a company that works faster, that is more agile, that is bolder in its decision-making.”

Navratil also said the company will be performing a portfolio review with an “open mind.”

It’s the first major move for the food giant under Navratil, the Nespresso leader who replaced Laurent Freixe last month after an investigation found Freixe had engaged in an undisclosed romantic relationship with a subordinate. Last November, then-CEO Friexe—who had just taken the reins from Mark Schneider after a series of underwhelming sales quarters—announced Nestlé’s turnaround plan, which included increasing its marketing and advertising budget.

Ulta Beauty

As the beauty retailer faces increasing competition, Ulta Beauty President and CEO Kecia Steelman unveiled “Ulta Beauty Unleashed,” a multipronged turnaround plan that included marketing, merchandising, and expansion efforts in March.

Keep reading here.—EC

Gen Z might have a reputation for being carefree spenders, but new research suggests they’re actually more financially savvy than they often get credit for.

In a consumer survey conducted by Affirm, Gen Z was found to be approaching money with intentionality and discipline, with a big focus on value in an uncertain economy.

For instance, nearly 24% of Gen Zers chose to thrift or DIY their home decor. Others (40%) opted to blend new with secondhand. Even with apparel, 23% shopped secondhand, while 35% mixed thrifted with new clothing.

Meanwhile, about one-third identify as planners who make budgets and track spending, while a quarter call themselves “value seekers.”

Keep reading here.—JS

On the verge of a Saudi-backed $55 billion buyout to take the company private, EA is getting tactical with an early update on the status of its latest blockbuster.

The video game giant announced last week that Battlefield 6 saw the “biggest opening ever” in the franchise’s history, selling more than 7 million copies in the first three days since the launch.

The announcement also came with promises of more content to come, as EA positions Battlefield 6 to “become a cornerstone of our vision for dynamic, continually expanding experiences where community engagement shapes the future of play,” CEO Andrew Wilson told shareholders in July.

Later in that same earnings call, Wilson said the game ”isn’t just a product,” and that “we’re really building out Battlefield as a platform.”

This tracks with an industry-wide trend in which non-mobile subscriptions such as Nintendo Switch Online, PlayStation Plus, Xbox Game Pass, and World of Warcraft are driving sales. According to Circana, the category was up 21% from last year.

Keep reading here.—AV

Tired of one-size-fits-all job boards? CollabWORK highlights roles that reflect your interests and goals—delivered through communities like Retail Brew. Click here to explore the full job board.

• Supply Chain Security Specialist at Pinkerton (in person)
• Manager, Customer and Category Management at Treehouse Foods (hybrid)
• Food Retail Brand Location Manager at Aramark (in person)
• District Retail Manager, Gulf Coast at Polaris Industries (hybrid)
• Manager, Category Development at Post Holdings, Inc. (hybrid)