Good morning. Today, White Fox invades the closets of middle and high schoolers; Walmart keeps winning in a cost-conscious environment; and a social-media site cashes in on AI’s appetite for information.

Packs of tweens wearing sweatsuits from the Australian fast-fashion brand White Fox have become a common sight from middle-school hallways to the aisles of Sephora, Chavie Lieber reports.

While White Fox works with influencers on Instagram and YouTube, its heavy presence on TikTok is what has boosted the clothes for tweens and teens recently. The company averages 36 TikTok videos a week, nine times as many as the average fashion brand.

It also works heavily with teen influencers.

Mike Goldfarb, the founder and chief executive of the Montreal agency Talent Nation, said White Fox had struck deals with half of his teen clients, giving some of them free clothes and paying others $1,000 to $5,000 to create several posts.

“It’s definitely harder to get brand deals for teens, and in some instances, it’s even part of a strict policy not to work with minors,” Goldfarb said. “But White Fox and a few other skin care brands are very interested in this demographic.”

Walmart’s sales continued to grow as American shoppers kept flocking to its stores for inexpensive everyday necessities, Sarah Nassauer writes.

But shoppers are coming for more than low prices, Walmart CEO Doug McMillon said on a call with analysts.

“These are not inflation-driven results,” McMillon said. 

The retailer is gaining market share among households earning $100,000 or more a year, especially in grocery, executives said.

The company raised its sales and profit expectations for the full year.

Reddit says it signed a deal with OpenAI to give the artificial-intelligence startup access to its data, following similar arrangements it made with Google and public-relations software firm Cision, Sarah E. Needleman reports.

The social-media company says the deal will bring its content to OpenAI’s ChatGPT chatbot and new products and that OpenAI will become a Reddit advertising partner.

Reddit users and moderators will also gain new AI-powered features.

• Dozens of big companies that dropped dividends during the pandemic haven’t resumed them, raising the question: “Is this the equivalent of long-term Covid?”
• As cyber threats rise, nearly half of compliance professionals surveyed by WSJ said they had only a basic or novice level of expertise in overseeing cybersecurity-related compliance.
• Top-ranking lenders are getting less of their money back when companies go bankrupt as many firms head into chapter 11 with less junior debt.
• Coke’s new attached-cap design is rattling European consumers, and smacking many of them in the face.
• 🎧 Listen to eBay’s CFO and chief AI officer discuss the online marketplace’s plans for investing in and using AI resources.

The Supreme Court rejected a conservative-backed challenge that could have dismantled the Consumer Financial Protection Bureau. [WSJ]

Two voice actors are suing an AI company that they say cloned their voices without their permission. [NYT]

The switch from Kiehl's to Grown Alchemist skincare products in Equinox locker rooms has some members venting on social media. [BI]

The NFL had barely just announced the upcoming season’s schedule when Skechers said it had bought ad time in the Super Bowl. [Ad Age] 

Punk-pop band Green Day introduced a coffee brand called Punk Bunny. [Beverage Industry]

What Wall Street Journal columnist Christopher Mims got wrong in a decade of predicting the future of tech. [WSJ]