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Dania Beach, Florida-headquartered Chewy operates a well-known e-commerce platform, marketing pet products, supplies as well as medications. Consumers have access to more than 2,000 brands and 45,000 items, including Chewy’s own brands. Its current market capitalization stands at $34 billion.
On March 30, Chewy announced robust Q4 and full-year metrics. The novel coronavirus pandemic provided tailwinds for the group’s sales, which reached $7.15 billion in FY20, up 47% year-over-year (YoY). During the year, this top player in the pet space registered 5.7 million new customers, or pet parents. Now it has more than 19 million shoppers. Quarterly net sales came at $2.04 billion, up 51% YoY. Investors were delighted to see an adjusted profit for the first time. They were expecting a loss as in previous quarters.
Dubai: In the past many months, almost since 2021 began, there have been several mentions of the word ‘SPAC’ in the world of business and investments. So there is a need to de-jargonise what it means to an average stock market investor.
With the recent developments surrounding SPACs, it is now commonly referred to among analysts as ‘a 2020s echo of the dot-com mania of the 1990s’ – making it a concept that sparks investor attention and drives a need to know about it in detail as a possible investment opportunity.
But first, what is a SPAC?
What is a SPAC?
A special purpose acquisition company, or a ‘SPAC’, is a company that is formed strictly to raise money through an initial public offering (IPO) for the purpose of acquiring an existing company.
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March 15, 2021, 9:38 am ·
Irish gambling powerhouse Flutter Entertainment Plc confirmed that it is mulling a listing of its US sports betting business FanDuel, following reports that it was under pressure to consider different options as investors were frustrated over the way the company has been trading.
The gambling operator, whose other brands include Paddy Power, Betfair, and PokerStars, said in a Friday statement that it is considering a listing of a
“small shareholding” in FanDuel in the US, but no final decision has been made yet.
The statement read further that the company
“regularly evaluates its organizational and capital structure to assess
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BOSTON, Feb. 26, 2021 (GLOBE NEWSWIRE) DraftKings Inc. (NASDAQ:DKNG) ( DraftKings or the Company ) today reported fourth quarter and full-year 2020 financial results.
Fourth Quarter 2020 Highlights
For the three months ended December 31, 2020, DraftKings reported revenue of $322 million, an increase of 146% compared to $131 million during the same period in 2019. After giving pro forma effect to the business combination with SBTech (Global) Limited ( SBTech ) and Diamond Eagle Acquisition Corp. which was completed on April 23, 2020, as if it had occurred on January 1, 2019, revenue grew 98% compared to the three months ended December 31, 2019. With a favorable fourth quarter sports calendar and strong marketing execution, DraftKings was able to generate tremendous customer acquisition and engagement that propelled us to $322 million in fourth quarter revenue, a 98% year over year increase, said Jason Robins, DraftKings co-founder, CEO and Chairman of the Board. I