Today In Retail: Moxie Launches Fitness Platform, Kroger Bullish On Earnings
In today’s top news in retail, fitness startup Moxie launches its platform, Amazon earnings are expected on Thursday (Oct. 29) and grocery giant Kroger said its “Restock Kroger” framework will generate shareholder returns of 8 to 11 percent.
Moxie launched Tuesday (Oct. 27) after spending the summer and fall in beta. Its CEO likes to call it the Airbnb of fitness. More formally, it is a hybrid fitness site for instructors to reach clients, both new and existing. And it’s a site where fitness enthusiasts can find subscriptions for monthly or weekly live classes, all streamed directly on its platform. Subscribers also get access to the video recordings, which can be streamed on Moxie’s site, as well as music clearances, playlists and CRM functionality for the instructors to manage their clients. During the beta phase, Goldberg says there were more than 6,500 classes available, and more than 10,000 individual sessions were live-streamed. The site has also signed up more than 2,000 instructors.
Amazon reports earnings on Thursday (Oct. 29) and it has an impossible act to follow. With its Q2 earnings reaping every benefit of the pandemic-driven digital-first economy, it set a new standard for exploding past earnings estimates with revenue up 40 percent to $88.9 billion. While it’s a safe bet that Amazon will beat estimates, it won’t come close to the Q2 performance. But as the retail world waits to see what is expected to be a record-setting quarter for Amazon, there are some key indicators to watch. The company has already level set expectations when it said in July that it expects Q3 net sales to come in at between $87 billion and $93 billion, which would be a year-over-year growth rate of between 24 to 33 percent.
Kroger Co. “has reinvented the company’s business model to deliver consistently strong and attractive total shareholder return,” the company said in a press release on Tuesday (Oct. 27). The Cincinnati-based supermarket giant said its “Restock Kroger” framework will generate shareholder returns of 8 to 11 percent. Restock Kroger is the company’s program to improve shipping, distribution and the links between its online and offline businesses. The company made “several strategic decisions three years ago” to better service its customers, Kroger Chairman and CEO Rodney McMullen said in the release. “We believed customers would continue to move to a seamless shopping platform that combined the best of physical and digital experiences. These choices and investments have positioned Kroger to more effectively respond to the pandemic,” he said.