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stars and dogs

A humorous look at the companies that caught our eye, for better or worse, this week

Foot Locker (DOG)


Bad news, sneaker fetishists: Even if you could afford that $250 pair of Nikes you’ve been ogling online, they might not even be in stock. Citing global supply chain disruptions and waning U.S. government stimulus payments, Bank of America slapped an “underperform” rating on shares of Foot Locker. The move – which came a week after Nike cut its full-year sales guidance because of delays in shipping goods from Asia to North America – caused Foot Locker’s stock to roll its ankle and suffer a severe lateral sprain.

Lightspeed Commerce (DOG)


The two words that scare public companies most: short-seller. Shares of point-of-sale technology company Lightspeed Commerce tumbled after Spruce Point Capital – a New York firm that makes money by betting that stocks will fall – published a 125-page report questioning Lightspeed’s customer counts and revenue growth, among other things. Lightspeed said the report “contains numerous important inaccuracies and mischaracterizations,” but the company’s response failed to stem the stock’s slide. Shareholders can only hope Spruce Point is as wrong about Lightspeed as it was about Dollarama and Canadian Tire, both of which have posted double-digit gains since their own encounters with the short-selling outfit.

Hain Celestial Group (STAR)

HAIN - Nasdaq

Wondering what snacks to serve at your kid’s next birthday party? Skip the pizza and treat the youngsters to some Yves Kale & Root Vegetable Patties and a bowl of Sensible Portions Garden Veggie Straws – just two of the delicious products available from Hain Celestial Group. Shares of the company jumped after its chief executive officer discussed plans to eventually sell its personal care business and focus on its fast-growing natural and organic food brands, which include plant-based “meat,” dairy alternatives and snacks. With more people adopting healthier eating habits, investors are coming back for seconds – even if the kids don’t.

Bed Bath & Beyond (DOG)

BBBY - Nasdaq

You know when someone flushes the toilet and the shower suddenly gets scalding hot? Now you know how Bed Bath & Beyond investors feel. Shares of the retailer went down the drain after it reported fiscal second-quarter results below expectations and slashed its full-year forecast. The company blamed “unprecedented” supply chain disruptions, sharply higher cost inflation and slowing traffic in August as the Delta variant kept shoppers at home in Florida, Texas and California. With the shares losing nearly half of their value over the past three months, owning this stock is Beyond painful.

Dollar Tree (STAR)

DLTR - Nasdaq

A dollar doesn’t buy what it used to – not even at Dollar Tree. With inflation heating up amid rising shipping and labour costs, the retailer plans to test items priced for more than a buck at its traditional U.S. Dollar Tree stores. The company – which also plans to open more Dollar Tree Plus format stores that sell goods for US$1, US$3 and US$5 – said its customers “are telling us that they … want a broader product assortment when they come to shop.” Memo to Dollar Tree management: Dollarama figured this out years ago. Well, better late than never.

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