The Pulse.

Health and wellness investment dominated the week: Ulta is placing Oura rings in 1,000 stores, Poppi's founder launched hydration brand Jetty, and Intake Breathing closed a $62M raise — signaling sustained consumer appetite for the category. On the operations side, Reformation's AI planning tool is already improving in-stock rates, while Amazon raised seller fees and Walmart pushed drone delivery further, tightening the pressure on independent brands managing fulfillment costs. Meanwhile, experiential retail continued to draw attention, with Laneige rolling out in-store customization and Revolve acknowledging stores' value without committing to rapid expansion — a cautious but telling posture.