Not a revenue-shocker (they were up even from stimulus-miracle a year ago), but a cost-shocker. Unable to pass on all the cost increases, their margins got squeezed.
Retail Therapy at Bars & Restaurants, Cannabis Stores, and Ecommerce? Other retailers not so lucky.
On crappy earnings and lowered guidance, many of these highflyer stocks kathoomphed -70% to -85% from highs last year.
It’s rough out there in multiple ways.
Great news, but not for the stock. Share buybacks gutted Starbucks. The SEC should again rule them illegal market manipulation, as it had until 1982.
Retail sales amid record worst inflation in durable goods and red-hot inflation in nondurable goods.
Two elephants in retail: A historic spike in prices of goods and seasonal adjustments as the Pandemic upended seasonality.
It shows how brittle the system has become in face of every new challenge.
“Not seasonally adjusted” retail sales spiked to a record. “Seasonally adjusted” retail sales fell. Both: +16.9% from year ago. What the heck is going on?
In a number of shopping corridors, asking rents collapsed by 50% to 73%, amid a slew of vacant stores. But in one corridor, rents jumped.