It’s happy hour on a Friday, and here are the top news stories we are talking about:
Apple joins Amazon this week with disappointing results
Apple still saw a 29% increase in revenue, but fell short of expectations, blaming the performance on larger than expected supply constraints. Tim Cook (CEO) “The supply constraints were driven by the industry wide chip shortages that have been talked about a lot, and COVID-related manufacturing disruptions in Southeast Asia.”
Meanwhile, Starbucks just keeps chugging along
Net sales were up 31% and their loyalty program saw a 28% increase in usage vs prior year. With 70% of their transactions coming from drive-thru and mobile ordering, a 15% increase from pre-pandemic activity. Clearly, consumers of coffee are finding their daily routines again and Starbucks is winning with that group. No reports on what percent of their sales were Pumpkin Spice Lattes, which we found disappointing…
Have we talked about Black Friday yet? Because it’s going to be a big deal
We know, holidays and Black Friday and promos and all of that are going to bigger than ever. So here is another article outlining how retail strategies are picking up, and as consumers we should all be paying attention. With inflation and the supply chain, jumping on offers early in the season might be more than just a solid strategy – it might be the only strategy.
Shopify results were disappointing
The eccomerce platform saw disappointing results, that missed expectations by quite a bit. After seeing their stock price more than triple last year, looks like Shopfiy is cooling off now that many shoppers are returning to stores. Is this a canary in the coal mine? Just a blip as shoppers shift their spending? We’d say the next few months will probably give us a good idea.
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