Being a shopkeeper today is not fun.Today, a few days after Amazon’s consumer manager Dave Clark left the building, RealReal said CEO and founder Julie Wainwright has moved away from second-hand luxury retailers.Wainwright started the company 11 years ago after he ran several other companies, including the dot-com era. Disaster Pets.comI’m giving up on the board sheet.
RealReal gave no clue as to why Wainwright left. But let’s face it. Business has been stinking for years. As revenues increased, so did their losses. think Red ink is likely to run out as earnings grow, but stock prices have recently been around $ 3. Last year it was $ 28 (which is not a celebration given that it was released for $ 20 per share in 2019). Again, the current economic environment is harsh for all retailers. Things are so volatile that Target today revealed that it expects an operating margin of around 2% in the second quarter. Only three weeks ago, I predicted it to be about 5.3%. (Overall in 2021, Target’s operating margin was 8.4%.) Target is planning a clearance sale because of too much inventory and the rapid changes in what people buy. This is good news for consumers and bad news for target investors.
https://www.theinformation.com/articles/the-realreal-target-show-struggles-in-retailing RealReal, Target Show Retail Struggle — Information