Stock Movers: Amazon Grocery Expansion, Cava Guidance Cut, Capri Holdings Upgrade

Amazon's Same-Day Grocery Delivery Expansion

• 🚀 Amazon is expanding its same-day grocery delivery service to over 1,000 cities, with plans to double that by year-end.
• 🛒 This initiative allows Prime members to order produce, dairy, meat, and seafood, with free delivery on orders over $25.
• 📈 While Amazon is up nearly 1%, the stock has only seen a 2% increase this year, indicating a muted reaction.
• 💥 The expansion has significantly impacted competitors, with Instacart plummeting as much as 11% and Kroger and Walmart also reacting.

Cava Group's Trimmed Sales Guidance

• 📉 Cava Group shares plunged approximately 16% after the fast-casual Mediterranean chain cut its annual sales guidance.
• 📊 The company now forecasts sales at established locations to grow at most 6%, down from a previous forecast of up to 8%.
• ⚠️ This slowdown, though still outperforming competitors like Sweet Green and Chipotle, highlights the challenges restaurants face amid inflation and rising prices.

Capri Holdings Receives JPMorgan Upgrade

• 📈 Capri Holdings, owner of Michael Kors, rose 7% following a JPMorgan upgrade from neutral to overweight.
• 🎯 JPMorgan cited anticipated revenue improvements through fiscal year 2026, driven by fewer markdowns and tariff mitigation measures.
• 💰 The firm set an ambitious price target of $30, suggesting a 53% increase from the last close, based on strong performance, particularly in the Michael Kors brand.
• ⭐ Capri Holdings has seen several strong weeks, with a current analyst rating breakdown of four buys, nine holds, and one sale.