Etsy Forecasts Downbeat Third Quarter as Demand Softens
August 3, 2023
Etsy Inc. has forecasted lower-than-expected revenue for the third quarter, signaling a softening in demand for handcrafted goods on its online marketplace. The rise in prices of essential goods has led consumers to reduce spending on discretionary items, including higher-margin home furnishing goods and personalized products sold on Etsy’s platform. The company’s consolidated gross merchandise sales fell 0.6% in the second quarter, and concerns about the return of student loan payments and dwindling savings may further impact sales in the future.
Recent News
European Commission Readies All Trade Tools Against China
European Commission President Ursula von der Leyen emphasized the EU’s readiness to utilize all available trade tools to safeguard its economies amidst concerns over China’s market practices.
Steward Health Care Files for Bankruptcy Protection
Steward Health Care’s plunge into bankruptcy protection has stirred considerable attention and concern.
Tyson Foods Faces Challenges Amidst Rising Inflation
Tyson Foods Inc. recently saw a significant drop in its shares due to ongoing inflation impacting consumer demand.
Special Offers for National Nurses Week
Nurses play a vital role in healthcare, and their dedication often goes unnoticed. National Nurses Week, spanning from May 6 to 12, aims to acknowledge their hard work.