Old Navy is venturing deeper into beauty. The Gap Inc. unit will begin selling its own branded beauty products this fall, alongside an expanded selection of items from brands like e.l.f. and Mario Badescu, per The Wall Street Journal. Old Navy’s beauty expansion is a bold bet, given the enormous number of brands already in the market and the increasing ranks of retailers hoping to benefit from resilient beauty demand.

From Rare Beauty’s scented billboards and Walmart’s truck tours to Dick’s Sporting Goods’ in-house production studios, here’s what the eight most interesting retailers from August have been up to, as ranked on our “Behind the Numbers” podcast.

Kraft Heinz will split into two companies, spinning off its slower-growing grocery unit—home to Oscar Mayer, Kraft Singles, and Lunchables. The remaining business will focus on faster-growing products such as Heinz ketchup, Philadelphia cream cheese, and Kraft Mac & Cheese, along with its sauces and condiments. Kraft Heinz’s breakup shows the risks of CPG megamergers, especially given how quickly consumers’ tastes can change. Once prominent brands like Lunchables and Kraft Singles are rapidly losing value as more shoppers avoid ultra-processed foods and artificial dyes, while the company’s bloat has made it challenging to stay current with food trends.

The news: McDonald’s will reintroduce Extra Value Meals on September 8. The combo meals will deliver about 15% savings compared with buying items separately. Our take: While McDonald’s delivered better-than-expected results in Q2, including 2.5% same-store sales growth, most of its gains came from higher prices. To build momentum, the brand must shift consumer perception, not just raise prices. Bringing back the Extra Value Meal is a step in that direction.

Consumer packaged goods (CPG) companies are in turmoil as shifting food trends, cuts to government benefits, and inflation challenge their share of grocery spending, while organizational headwinds compound the pressures. The strain is forcing bold actions and inviting scrutiny. Kraft Heinz’s breakup makes clear that size and brand recognition alone are not enough to ensure consistent growth—even for a company whose portfolio contains such household staples as Kraft Mac & Cheese and Heinz ketchup. While cost cutting is paramount as tariffs add millions to companies’ operating costs, CPGs must balance efficiencies with product innovation to recover some of the sales lost to private labels.

The news: Modelo Especial and Corona maker Constellation Brands cut its full-year forecast, blaming weak consumer demand in a difficult macroeconomic environment. The slowdown has been most pronounced among its core Hispanic demographic, who are cutting back on high-end beer. Our take: At the start of the year, Hispanic consumers looked like a growth engine—they accounted for one-fifth of the US population, $2.8 trillion in purchasing power, and outsize influence in categories from consumer packaged goods to food and beverage. But the Trump administration’s tariffs and mass deportations have chilled this momentum, with roughly 1 in 5 (21% of) Hispanic consumers report having felt unsafe in their local market due to their ethnicity, per The Asian American Foundation. Companies that banked heavily on Hispanic spending may now find that bet falling short.

US beauty shoppers are becoming more price conscious, even as overall spending continues to increase. The lipstick effect may have lost some of its punch, but it continues to support steady beauty sales. We expect US cosmetics and beauty sales to grow a relatively sedate 2.4% this year on strength in the hair and skincare categories.