Jeep Renegade: Stellantis-owned Jeep is dropping the Renegade model in the U.S. and Canada after the 2023 year, as sales sag, reports Automotive News. The Renegade debuted in the U.S. in 2015 with a campaign that utilized the song “Renegades” by the Brooklyn indie rock band X Ambassadors.
DSW: Warm temperatures are already taking a toll on some brands, including Designer Brands, the parent company of discount shoe retailer DSW. The retailer this week reported that unseasonably warm weather has softened consumer demand, leading to a 9.3% year-over-year drop in net sales, to $786.3 million, and lower net income in the quarter that ended on Oct. 28. It’s a problem more brands might encounter in the coming years amid climate change, as brands try to anticipate the impact of new weather patterns on consumer behavior.
Spotify: Fresh off a week of dominating social media feeds as users shared their musical choices in their “2023 Wrapped” year-end listening summaries, the streaming audio company made headlines this week for a different reason. Spotify said it was laying off some 17% of its workforce, or 1,500 employees, citing the need to improve costs amid a challenged economy. This is the third round of cuts this year for the company and includes its top marketer.
Read more about the 2023 Wrapped campaign