HPQ Aug 2024 29.000 put

Gap, Abercrombie & Fitch, Chewy CEOs & more: C-Suite Insights

It was a big week for earnings with companies like Abercrombie & Fitch Co. (ANF), Chewy (CHWY), Gap Inc. (GPS), and HP Inc. (HPQ), all reporting quarterly results and giving further insight into the state of the consumer. Yahoo Finance sat down with top executives in retail, tech, and fintech to discuss what they're seeing from consumers. Here are some of the key moments: Klarna CEO Sebastian Siemiatkowski (00:00:05) Klarna CEO Sebastian Siemiatkowski discusses the state of consumer spending in the buy now, pay later space. Siemiatkowski notes that “zero interest” is “one of the key elements” of the buy now, pay later products that the company offers. “To some degree we’re seeing… a continuous acceleration of our growth and preference among US consumers.” Chewy CEO Sumit Singh (00:00:38) Chewy CEO Sumit Singh explains three “good inputs” that Chewy (CHWY) is seeing that lends “some encouraging signs towards the normalization.” “One, we’re seeing green shoots in the industry… second, inflation was an important point carrying through last year, and you’re starting... to see that sort of wean off. Third, we saw healthy balances between net adoption rates and relinquishment rates that came through from shelter and rescue community every month this year to date.” Abercrombie & Fitch Co. CEO Fran Horowitz (00:01:14) Abercrombie & Fitch Co. CEO Fran Horowitz notes the “broad-based” success the company is seeing. Abercrombie & Fitch Co. (ANF) reported first quarter earnings beating estimates on both the top and bottoms lines. “Both brands… were double-digit up,” Horowitz says, “we saw double-digit across the regions… and most exciting is we saw it across all genders.” HP Inc. CEO Enrique Lores (00:01:44) HP Inc. (HPQ) reported fiscal second-quarter earnings results that slightly beat expectations on the top and bottom line. HP Inc. CEO Enrique Lores discusses that “this is the first quarter in eight where our PC business grew… So we are pleased with the progress that we have seen in PCs and we think that this is going to continue now for the second half of the year.” Gap Inc. CEO & President Richard Dickson (00:02:00) Gap Inc. CEO and President Richard Dickson notes that “customers are responding well to our brand reinvigoration efforts,” as Gap Inc.’s (GPS) first quarter earnings results exceeded expectations. “There’s a lot to be excited about. We’re on stronger financial footing, our brands are resonating, and really we’re just getting started.” For more expert insight and the latest market action, click here. This post was written by Mariela Rosales.