Earnings season is back in swing, and as retailers prep for the all-important holiday season, there’s a sense of urgency in the air. Overall, shares are up in the Retail Index categories. Here’s an overview of what’s happened so far:
- Peloton, in its first earnings report as a public company, saw revenue climb 106% to $228 million. Net loss improved by $4.8 million, and active members increased. The path to profitability is still unclear, though, as the company invests aggressively in the business.
- Uber shares took a hit despite beating revenue estimates as losses top $1 billion.
- The RealReal’s revenue spiked 55%, but the online consignment company still hasn’t turned a profit, and losses climbed to $25 million
- Sluggish sales at Kate Spade – year-over-year same-store sales dropped 16% – brought down Tapestry’s overall performance despite beating earnings expectations.
And then there’s Under Armour. Following the announcement that CEO Kevin Plank would be stepping down, the company’s stock took a beating in light of the disclosure of a federal accounting probe. And beyond executive shake ups and an investigation, Under Armour is still struggling to produce styles that resonate with modern customers, and the company was forced to cut its 2019 forecast. When it rains, it pours.
By Hilary Milnes