Etsy is trying to recreate pandemic-era sales. Here's where it's having trouble
Publishing timestamp: 2024-05-19 08:00:01
Summary
Etsy is facing challenges with declining gross merchandise sales, tumbling stock price, and high inflation. Despite a surge in customers and sales during the Covid pandemic, the company's first-quarter results were disappointing, leading to a 15% drop in shares. The company's CEO attributed the tough quarter to consumers' reduced discretionary spending. Artisans also point to changes in Etsy's culture and policies affecting their sales and profitability.
Sentiment: NEGATIVE
Tickers: ETSY,
Keywords: e-commerce, video first, retail industry, breaking news: technology, layoffs, earnings, online retail, consumer spending, inflation, corporate stock, breaking news: business, business news, business, etsy inc, economy, discretionary spending, technology, economic events,
Source: https://www.cnbc.com/2024/05/19/etsy-is-trying-to-recreate-pandemic-era-sales-heres-how.html