PetSmart Inc.
This retailer of pet products has over 1,500 stores in Canada, Puerto Rico, and the U.S. The root cause of PetSmart’s problems is basically the same as the others. More and more consumers are turning to e-commerce these days as it is more convenient and it sometimes offers cheaper prices. PetSmart did buy Chewy, an e-commerce site, but the $3.35 billion expense for the site added another burden to its existing debt. Reuters reported that it was the highest amount a company ever spent on an e-commerce site.
PetSmart
Stein Mart
This discount department store based in Jacksonville has been struggling with its sales but is seeing some light in the proverbial tunnel! Stein Mart has managed to put some balance in their sales and their digital revenue has increased by 47 percent in the latter half of 2017. The company did report a $23.4 million bottom-line loss for the year but has further added that the loss was decreased by 10 percent. It looks like there is no need to worry about our favorite discount store!
Stein Mart
