Share to Twitter Share to Linkedin Online pet retailer Chewy said its third quarter results, released today after the market closed, show investments it made in fulfillment and logistics are paying off. Chewy surprised analysts, who had been expecting a loss for the quarter, by posting net income of $2.3 million, and earnings per share of 1 cent. The retailer also beat expectations for revenue, posting net sales of $2.53 billion for the quarter, up 14.5% over the third quarter of 2021. Chewy is showing that it is able to combine its image as a warm and fuzzy, feel-good company that understands pet lovers, with hard-nosed business decisions that cut costs and give it an edge in the competitive pet space. But while analysts on the earnings call praised Chewy for its performance during the quarter, investors didn’t immediately reward Chewy for the positive results. Chewy’s stock, which closed up 1.79% at $41.97, was down more than 2% in after hours … [Read more...] about Logistics Improvements Boost Chewy’s Profits
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Share to Twitter Share to Linkedin Against unprecedentedly strong comparables last third quarter when revenues rose 18%, Signet Jewelers SIG continued to deliver topline growth during fiscal third quarter 2023 with revenues up 2.9% to $1.6 billion; however, most of that increase is credited to the acquisition of Diamonds Direct and Blue Nile since then. Though same-store sales dropped 7.6% during the quarter despite average transaction value increasing 8%, revenues are up 33% over pre-pandemic levels, and profitablity has tripled since then. While it continues to guide on full-year revenues between $7.6 to $7.7 billion, a modest decline from fiscal 2022’s high of $7.8 billion driven by a 50% year-over-year increase, the company raised operating income guidance to between $809 million to $850 million, up from $787 million to $828 million previously. Well-positioned inventory-wise for the holiday season, the company expects revenues to reach $2.59 … [Read more...] about Signet Jewelers Flexes Muscle To Power Forward As Headwinds Increase
Share to Twitter Share to Linkedin Key Takeaways Volvo is shifting to an all-electric lineup by 2030. The new EX90 is the company’s flagship SUV, available in the Fall of 2023. Volvo has struggled recently with higher costs and sourcing of semiconductors. For decades, Volvo has been a brand known for safety. Now, the Swedish car manufacturer wants to be known as an all-electric vehicle company too. Volvo has faced obstacles like the semiconductor shortage and price increases, but all car manufacturers have encountered these issues. Here is what the future holds for Volvo, including the EX90. Volvo committed to all electric Volvo has decided to turn its automobile production into an all-electric or hybrid powertrain for each of its models. The carmaker, once known for its cutting-edge safety features and crash ratings, is looking to lead the automotive industry in terms of innovation. It announced this decision in 2019 and aims to … [Read more...] about Volvo EV: Will A Volvo EV Drive Volvo Stock Upward?
Share to Twitter Share to Linkedin Miansai is handcrafted jewelry by its founder Michael Saiger, creating elegant art objects made in Miami. With the help of his wife Rachael, the Miansai brand has cultivated its local business of artisans, based in the Wynwood Miami Design District, into a global name found in department stores, boutiques, and on platforms like Saks Fifth Ave., Bloomingdales, and Mr. Porter, to name a few. The native New Yorker Michael Saiger began making jewelry while studying at the University of Miami, noticing a lack of designer jewelry for men. He found trinkets, relics, and antique pieces that he revived and crafted into wearable works of art. A mother who owned and operated an antique store, Saiger was keen to source out illustrious relics and convert them to jewelry. By 2008, Michael Saiger launched Miansai, a mashup or portmanteau of his full name, diligently fulfilling department store orders uncertain he could fill. At that … [Read more...] about Miami-Based Miansai Finds Art In iPhones With Help From Artist Gab Bois