PetSmart Inc.
The pet products retailer has more than 1,500 stores in Canada, Puerto Rico, and the U.S. The main cause of PetSmart’s problems is more or less the same as others. More and more consumers are turning to e-commerce nowadays since it’s more convenient and sometimes offers cheaper prices. PetSmart did buy Chewy which is an e-commerce site, but the $3.35 billion expense for the site only added to the company’s existing debt.
PetSmart
Stein Mart
The discount department store based in Jacksonville has been struggling with its sales. However, it is seeing some light in the tunnel. Stein Mart has managed to some balance into their sales and increased their digital revenue by 47% in the last half of 2017. The company did report a $23.4 million bottom-line loss for the year, but they also added that the loss was decreased by 10%.
Stein Mart