Markets
Online Crafts Retailer Etsy Lays Off 11 Percent Of Workforce
(Michael M. Santiago/Getty Images)

Etsy shares sink after the online marketplace tops revenue estimates but swings to a loss

To tackle tariff hurdles, Etsy has created a special task force and begun spotlighting local artisans on its site.

Nia Warfield

Etsy shares slid nearly 8% even after the craft-based online marketplace posted solid Q1 revenue. The company reported a top line of $651.2 million, solidly beating estimates of $641 million. Meanwhile, gross merchandise sales (a key metric) reached $2.8 billion, also matching FactSet estimates but down 6.5% from last year as the number of active users cools.

The company also posted a loss of $0.49 per share after taking a $101.7 million charge tied to sale of its instrument marketplace, Reverb.

Etsy, along with other retailers, remains especially vulnerable to recent tariff hikes on China and has recently begun spotlighting locally crafted goods on its site in response. The company says it has assembled a special task force to address the effects of tariffs and plans to “stay nimble in the face of uncertainty.” Etsy also rolled out new features to lure shoppers, including “Checkout on Merchant” for YouTube ads, which lets users add Etsy products directly to their cart from video ads.

Looking ahead to Q2, Etsy expects its GMS to fall at a year-over-year rate that’s “similar to, or possibly slightly better than” Q1.

Etsy shares are down 33% over the past year.

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

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  • Revenue of $11.0 billion (estimate: $10.8 billion).

  • Adjusted earnings per share of $0.20 (estimate: $0.12).

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