We can see from these things,
The day before yesterday, the department store KSS stock jumped 5% after the company announced that it had created a place to sell amazon products in its stores, such as Echo and Fire TV. The first sight of this bizarre rivalry with rivals was that capital markets reacted with incomparable kindness.
Yesterday, brick-and-mortar bookshop BKS stock tumbled 9 per cent, underperforming and continuing to lose money. The result of two decades of competition with amazon, however, is that there are only half a billion dollars in market value, and there is no hope of where. The author has already made the short position.
Today, kroger (kr stock ), the first big American supermarket, is down 6 per cent. Earnings were worse than expected and profits fell 7.8 per cent, under intense competition from wal-mart and amazon to buy whole foods. A supermarket that has been growing for 13 consecutive years has fallen from this year to two quarters, and only 11 times PE can’t stop it falling.
The U.S. retail industry is very cool.