Earnings week continues, and today we see a couple retailers that had positive results but mixed reactions from investors. Not sure if that is just the sign of an unsure market, or if there are expectations that some of these trends aren’t sustainable.
Petco cited customer growth as a driver for their profit in Q1, but shares didn’t jump accordingly. Could the great pet boom of 2020 be slowing down? Side note: did you know that Petco’s stock ticker is ‘WOOF’?
Kohl’s had strong sales AND profit in Q1 and raised their outlook on the year. And Wall Street didn’t buy it.
Google is opening their first retail store in New York City, not far from an Apple Store. The store will highlight their phones and other gadgets.
Amazon is consolidating their naming conventions for stores, getting rid of ‘Amazon Go’ and moving to ‘Amazon Fresh’. Seems like a small move, but you can see that Amazon is focusing on groceries – trying to stay top of mind for shoppers.