Not-so-fancy feast… Americans are (finally) starting to spend less on their furry friends after years of explosive growth in the $124B US pet market. Chewy thrived during the pandemic as 1 in 5 Americans took in furry companions and showered them with goodies. But Chewy’s sales growth has slowed recently as the puppy-palooza wanes. Last week, rival Petco dropped disappointing results as owners ditched pricey kennels for smaller treats. Analysts think the trend could keep chomping on Chewy when it reports Wednesday.
Little brown bag… Macy’s, which reports Thursday, predicted lower sales this year as consumers cut back on discretionary splurges. But the mall staple’s non-namesake, higher-end brands have been a bright spot: Blue Mercury, Bloomingdale’s, and mini stores called Market by Macy’s and Bloomie’s (s’cute) have outperformed the flagship. Kohl’s got a boost from its in-store Sephoras last quarter, and Urban Outfitters from Anthropologie and Free People. Abercrombie's stellar earnings last week could bode well for Macy’s smaller-format foray.