Retailers PetSmart, Petco Feel Pinch of Weaker Pet Spending
Earnings are softening as consumers stay cautious
Signage outside a PetSmart store in the Brooklyn borough of New York, U.S., on Tuesday, Oct. 27, 2020.
Photographer: Mark Kauzlarich/BloombergThis article is for subscribers only.
Welcome to The Brink. I’m Reshmi Basu, a reporter in New York, where I’m examining signs of weakness in the pet retail industry. We also look at troubles at toymaker Hasbro and bring you the latest on the restructuring of Indian miner Vedanta. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net.
Earnings are softening for retailers PetSmart and Petco — the latest sign that consumers aren’t spending on their pets the way they were during the height of pandemic lockdowns, Reshmi Basu reports.