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Etsy misses first-quarter sales, profit estimates on lower discretionary demand [Globe and Mail, The (Toronto, Canada)]

Amazon.com, Inc. (AMZN)  More Company Research Source: Globe and Mail, The
Last amazon.com, inc. earnings: 4/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: phx.corporate-ir.net/phoenix.zhtml%3fc%3d97664%26p%3dirol-irhome
It is also facing increasing competition from low-cost e-commerce platforms such as Temu. Context Persistent inflationary pressures have put off customers from spending on big-ticket non-essentials product categories including vintage handicrafts, jewelry and home decor. Key quotes “Our first quarter performance ...was pressured by the challenging environment for consumer discretionary products, which continues to be a headwind to Etsy marketplace growth,” said CEO Josh Silverman. “While considerably larger than it was pre-pandemic, Etsy is struggling to find ways to expand beyond its niche and attract buyers as Amazon and Walmart eat up a larger share of ecommerce spending,” Eachel Wolff, analyst with eMarketer said. By the numbers For the quarter, the company posted consolidated GMS - a key metric to measure sales - of $3 billion, compared to analysts' average estimate of $3.12 billion, according to LSEG data. The company posted quarterly revenue of $646 million, ro [Read more]
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Stockreport

Etsy misses first-quarter sales, profit estimates on lower discretionary demand [Globe and Mail, The (Toronto, Canada)]

Amazon.com, Inc.  (AMZN) 
More Company Research Source: Globe and Mail, The
Last amazon.com, inc. earnings: 4/30 04:01 pm Check Earnings Report
US:NASDAQ Investor Relations: phx.corporate-ir.net/phoenix.zhtml%3fc%3d97664%26p%3dirol-irhome
It is also facing increasing competition from low-cost e-commerce platforms such as Temu. Context Persistent inflationary pressures have put off customers from spending on big-ticket non-essentials product categories including vintage handicrafts, jewelry and home decor. Key quotes “Our first quarter performance ...was pressured by the challenging environment for consumer discretionary products, which continues to be a headwind to Etsy marketplace growth,” said CEO Josh Silverman. “While considerably larger than it was pre-pandemic, Etsy is struggling to find ways to expand beyond its niche and attract buyers as Amazon and Walmart eat up a larger share of ecommerce spending,” Eachel Wolff, analyst with eMarketer said. By the numbers For the quarter, the company posted consolidated GMS - a key metric to measure sales - of $3 billion, compared to analysts' average estimate of $3.12 billion, according to LSEG data. The company posted quarterly revenue of $646 million, ro [Read more]
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