Denver pet store warns prices of toys, pet food are on the rise thanks to tariffs
DENVER (KDVR) — A local business is starting to feel the heat of import tariffs and is being transparent with customers that they will, unfortunately, have to start spending more.
'She made a difference': Vigil honors beloved science teacher killed in Weld County crash
Luke & Co. Fine Pet Supply has been in business on Broadway for the last nine years, and owner Luke Johnson knows his customers love their pets.
'People come in and nothing else matters except them and their cat or them and their dog,' said Johnson.
He loves his customers, making strong connections over the years.
'Either recognize their face or we know them on a first-name basis,' said Johnson.
That's why he said it hurts to have to put signs on the doors letting people know that the impacts of tariffs on China and other countries are finally here.
'I was a little bit worried about it, but I didn't think it would actually come to fruition,' says Johnson.
Three weeks ago, he got the first email from a manufacturer saying prices on their goods would go up at least 20%.
'Now it's usually weekly we're getting an email from somebody about tariffs,' said Johnson.
It's mostly toys that will be affected since most of them are made in China, but some food will have the price tag hit, too.
'A lot of the duck and the rabbit in the world come from France,' said Johnson. 'Lamb often comes from New Zealand.'
Even the paper bags made overseas, which previously, Johnson never charged for, will now cost $1.54 just for the store to break even.
'Some people think that's ridiculous, that we're trying to gouge people,' he said. 'We're not, that's literally what we're going to pay for a bag.'
He said the price increases, unfortunately, have to happen because of the store's already slim profit margin.
'We really can't even eat 10% without going out of business,' said Johnson.
He thinks the idea behind the tariffs is sound, but he hopes some changes in how they're being implemented will be made so he can keep serving the customers he loves.
'Personally, I very much agree with bringing manufacturing and jobs to America,' he said. 'It's just you have to give companies a couple years, you can't do it in 90 days.'
Groups urge governor to sign rent algorithm bill
While the first round of messaging from manufacturers shows around a 20% increase in costs, he expects that number will continue to climb.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
1 Megacap Tech Stock That Could Split Its Shares Next
Netflix shares trade significantly higher than the levels they did before the company's last stock split in 2015. The company's business is firing on all cylinders, making this a good time to split shares. Netflix expects double-digit revenue growth and significant operating margin expansion this year. 10 stocks we like better than Netflix › Netflix (NASDAQ: NFLX) stock has recently blown past $1,200 per share, making it hard to believe that shares traded at levels below $200 as recently as May of 2022. And the stock's momentum is strong this year, too. Shares are up about 40% this year alone, defying the market's sluggish return of less than 2% as of this writing. With a combination of a strong business, impressive stock price momentum, and a share price in the thousands, a stock split could be in the cards for the streaming giant soon. Netflix's performance has been stellar. In the first quarter of 2025, revenue rose 12.5% year over year to about $10.5 billion, and earnings per share soared 25.2%. Helping the company achieve such strong earnings-per-share growth is Netflix's widening operating margin. The key profitability metric hit 31.7% in the quarter, up from 28.1% in the year-ago period. The company also reported free cash flow of $2.7 billion, up 25% year over year. Netflix's business growth has been fueled primarily by three key tailwinds: membership growth, price increases, and a fast-growing advertising business. Importantly, the company believes all three of these catalysts have room to run. In its first-quarter update, management reaffirmed its guidance for full-year revenue to increase 11.5% to 14.1% year over year. This growth, management explained, "assumes healthy member growth, higher subscription pricing and a rough doubling of our ad revenue ... " Additionally, management continues to forecast a full-year operating margin of 29%, up substantially from 26.7% in 2024. Netflix hasn't split its shares since 2015. Back then, a 7-for-1 split lowered the stock price from about $700 to $100. Today, the share price is nearly double its pre-split peak. That alone doesn't guarantee a stock split. But historically, splits are more likely when a stock becomes expensive (in terms of the share price) relative to other megacaps and the company is on solid footing. Netflix checks both boxes. There's a sense of déjà vu with Netflix today. Just as has been the case recently for the company, it was experiencing strong subscriber growth, record earnings, and benefiting from strategic catalysts the last time it split its stock. Also strengthening the case for a stock split, Netflix shares currently trade far higher than other tech leaders like Microsoft, Meta Platforms, Apple, and Nvidia. Of course, a stock split would not affect the company's fundamentals, but it would lower the price per share and make Netflix more accessible to retail investors. But it's worth emphasizing that a stock split, in and of itself, isn't a reason to buy a stock. It is, however, often a symptom of strong underlying business momentum -- momentum strong enough to cause investors to bid up the share price to a level worthy of a stock split. It's also worth noting that even though Netflix's business is doing extraordinarily well, investors seem to already be pricing in this momentum. Shares trade at 59 times earnings. All else equal, this valuation multiple will likely come down meaningfully if the company delivers on its revenue growth and operating margin expansion targets for the full year. A combination of double-digit revenue growth and margin expansion should help earnings per share grow dramatically. But with a price-to-earnings multiple well in excess of even fast-growing tech giant Nvidia's, investors seem to be already betting on more staggering growth from the streaming giant. With a surging stock price, impressive revenue growth, and a nascent and fast-growing advertising business, Netflix is a top contender for the next big tech stock split. Though the company hasn't announced plans to split its shares, it's starting to look overdue. Before you buy stock in Netflix, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Netflix wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $674,395!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $858,011!* Now, it's worth noting Stock Advisor's total average return is 997% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Daniel Sparks and his clients have no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple, Meta Platforms, Microsoft, Netflix, and Nvidia. The Motley Fool recommends the following options: long January 2026 $395 calls on Microsoft and short January 2026 $405 calls on Microsoft. The Motley Fool has a disclosure policy. 1 Megacap Tech Stock That Could Split Its Shares Next was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19 minutes ago
- Yahoo
Six stunning estates set the new standard for Sacramento luxury homes
Stories by Sacramento Bee journalists, with AI summarization Sacramento's luxury home market features a blend of modern amenities, history, and record prices. A standout is a Granite Bay estate with a 4,000-square-foot indoor basketball court, gym, and entertainer's kitchen. A historic 1880s Folsom Victorian, meticulously restored to preserve its original details, also hit the market. Granite Bay saw its highest sale in years with a Santa Barbara-style home designed for a sports-car collection, boasting a temperature-controlled garage and resort-style outdoor spaces. Downtown living is represented by a spacious Kimpton Sawyer penthouse, offering panoramic city views and VIP Golden 1 Center access, recently selling at a notable auction price. Are the prices for high-end homes in the Sacramento area creeping up? | Published January 4, 2025 | Read Full Story by David Caraccio The luxury condo was owned by ex-eBay CEO Meg Whitman and her husband, a surgeon. | Published April 25, 2025 | Read Full Story by David Caraccio Granite Bay estate hits the high-end market for $5.25 million. | Published February 22, 2025 | Read Full Story by David Caraccio The hypercars were not included. But you can see how a Ferrari or Lamborghini fits in the garage | Published March 24, 2025 | Read Full Story by David Caraccio Guess what sold Ben McLemore on the property. | Published July 22, 2024 | Read Full Story by David Caraccio Italianate Victorian sits on oversized lot just steps away from historic Sutter Street and the American River. | Published November 23, 2024 | Read Full Story by David Caraccio The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.
Yahoo
28 minutes ago
- Yahoo
Best Stock to Buy Right Now: Uber vs. Carvana
The world's mobility landscape is changing in several different ways. There may be room and reason to own both of these companies right now. One of these stocks, however, is experiencing oversized growth for reasons that aren't apt to persist. 10 stocks we like better than Uber Technologies › Uber Technologies (NYSE: UBER) and Carvana (NYSE: CVNA) aren't just two different companies. They're seemingly polar opposites. Ride-hailing giant Uber is thriving largely because owning and driving a car is an increasingly expensive hassle. Used car dealer Carvana, conversely, makes it easy and affordable to own your own automobile. One could reasonably argue there's solid -- even growing -- demand for both businesses. But it's difficult to deny the contrasted underpinnings of what make these two companies tick. Investors could understandably be confused. The good news is, one of these names is a clearly better bet than the other -- now and for the foreseeable future. You almost certainly know the companies. Uber Technologies isn't just a major personal mobility name, after all. It largely brought the domestic ride-hailing industry into existence, and now controls three-fourths of the U.S. market, according to data from Bloomberg. It's developing an international presence as well, even if it's not quite as dominant overseas. As for its fiscals, the $175 billion company's drivers provided over 11 billion rides last year, up 18% year over year, turning that into nearly $44 billion in revenue and almost $3 billion worth of operating net income. Nearly half of its revenue, however, came from deliveries and freight services rather than passenger trips. Carvana isn't quite as big, although its growth is just as impressive. The used car dealer reported $13.7 billion worth of revenue for 2024, up 27% year over year, generating a record-breaking $404 million in net income. Most of that profit came from sales of used vehicles to retail consumers, although wholesaling accounts for the bulk of its total unit transactions. A rebound from a inflation-crimped slide in demand after the peak of the COVID-19 pandemic helped drive these top and bottom lines higher. Last year's forward progress, however, also extends a choppy trend that's been in place for some time thanks to Carvana's clever marketing, and brilliant use of technology to establish scale. And yet, these two seemingly growing companies' stocks aren't exactly performing in tandem. Carvana shares are up by more than 200% for the past year, and testing their peak reached in 2021. Uber shares haven't made any real net progress since March of last year, upended multiple times by earnings reports marred by one modest shortfall or another. The market has largely lost its bigger-picture perspective on both companies, however. Take Uber Technologies' recent quarterly results as an example. Yes, since early 2024 either sales or earnings or guidance haven't always lived up to expectations. The company's never failed to make actual forward progress at any point during this stretch, however. Again, last year's revenue improved 18%, and is expected to repeat the feat this year. Although its sales growth rate is slowing, that's a purely mathematical matter. On an absolute basis, it's chugging along as well as it ever has. It's apt to continue doing so well into the foreseeable future, too. Uber is plugged into a serious secular trend. That is, although plenty of people still own and drive cars, there's a growing segment of the domestic and foreign population that doesn't want to do either anymore. A recent survey performed by Deloitte indicates that only 11% of people living in the United States over the age of 55 would consider giving up their vehicle, whereas 44% of people living in the U.S. under the age of 35 would consider doing so. And the disinterest is greater the younger the crowd. Thirty years ago roughly two-thirds of eligible teenagers held a driver's license. Today that figure's about one-third. The advent of a viable alternative like Uber is a key reason for this paradigm shift that's likely to remain in motion for years, as younger non-drivers grow up and pass along these new norms to their children. To this end, Straits Research believes the global ride-hailing market is set to grow at an average annual pace of more than 11% through 2033. Uber is well positioned to win more than its fair share of this growth. The food delivery industry is also set to grow at an annualized pace of 17%, by the way, according to an outlook from Precedence Research. This is another big growth opportunity for Uber, which already enjoys a strong presence within the market. But is Carvana just too promising to pass up? The bullish arguments hold water, to be sure. Chief among them is the sheer cost of a new car. Data from Kelley Blue Book indicates that as of April the average new automobile in the United States was being sold for a hefty $48,699. That puts the monthly payment well over $700, and subsequently, out of reach for most would-be buyers. Used cars are considerably more affordable though. Kelley Blue Book reports April's used car sales rolled in at an average price of $25,547 apiece, roughly halving the monthly payment as well. There's an important footnote to add to this dynamic, however. That is, the car business is incredibly cyclical. Once the current wave of updates and replacements has run its course, don't be surprised to start seeing Carvana underperform. Making matters even more challenging is the lack of new cars manufactured and sold in the U.S. between 2020 and 2022. As Edmunds points out, a three-year-old car (plus or minus a year) is Carvana's sweet spot, so to speak, where affordability and value intersect. Available inventory of these vehicles now stands at more than a decade low though, making it difficult for Carvana to offer what most consumers want. Never say never, of course. It's possible Carvana will continue to consolidate the country's highly fragmented and largely inefficient used car business, achieving growth through greater scale. There's certainly plenty of room for it. As it stands right now, Carvana estimates it only accounts for about 1% of the used car business. It's also possible Uber will run into an unexpected headwind sooner rather than later, even if it's not clear what that headwind might be. Be realistic though. Increasingly crowded urban and metropolitan streets and parking lots paired with car prices that aren't apt to abate anytime soon works in Uber Technologies' favor. Meanwhile, Carvana's recent sales strength doesn't reflect a new long-lived norm as much as it reflects the fact that the average vehicle being driven on U.S. roads is now 12.6 years, according to S&P Global Mobility, an age at which replacing it makes more sense than repairing it. The resulting demand for quality used cars isn't apt to last forever though. Now throw in the fact that Carvana's shares are currently trading 14% above analysts' consensus price while Uber's stock is 16% below analysts' (most of whom rate Uber as a strong buy at this time) average price target of $97.39, and there's little doubt that the ride-hailing powerhouse is a better stock to buy right now than the used car dealership chain's. Before you buy stock in Uber Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Uber Technologies wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor's total average return is 792% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 2, 2025 James Brumley has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Uber Technologies. The Motley Fool has a disclosure policy. Best Stock to Buy Right Now: Uber vs. Carvana was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
