Wolfe Research's Khajuria on Bumble Downgrade

The transcript discusses the challenges faced by Bumble, including industry-wide trends and company-specific issues like execution risk and management changes. It also covers Chewy's growth opportunities, highlighting its customer service and product differentiation strategies.

What are some of the industry-wide challenges affecting Bumble's growth?

• High employee turnover

• Lack of funding and resources

• Increased competition and changing Gen Z preferences

• Poor management decisions

What internal issue is Bumble facing that involves a key executive?

• CEO resignation

• CFO departure

• CTO retirement

• COO dismissal

What aspect of Chewy's service is highlighted as a key differentiator?

• Wide product range

• Personalized customer service

• Fast delivery

• Low prices

How is Chewy planning to grow its advertising business?

• By reducing advertising costs

• By launching a new advertising platform

• By increasing its advertising share from 1% to 3%

• By partnering with social media influencers

What is one of the growth opportunities mentioned for Chewy?

• Expanding into international markets

• Developing new pet food brands

• Opening physical retail stores

• Enhancing Chewy Health and Auto Ship services