Etsy reports Q1 Marketplace GMS $2.5B, up 5.5% y/y

On a currency neutral basis, GMS growth was up 3.6% year-over-year. The company’s CEO said: “After more than 15 years at Etsy (ETSY), I’ve stepped into the Chief Executive Officer role with a strong understanding of what makes this marketplace special and where we have more work to do. Etsy has a differentiated value proposition that remains deeply resonant with buyers and sellers, but we have not consistently translated that strength into our customer experience. Over the past year, we’ve shared what needed to change and the priorities we’re pursuing to bridge that gap. Etsy’s path back to long-term growth is grounded in a focused plan: expanding how and where buyers discover us, connecting them with items that feel personal and relevant, and building relationships that go beyond transactions. This is how we’re working to turn the uniqueness and scale of our marketplace into a lasting advantage, in order to drive greater engagement and stronger frequency. We saw encouraging signals during the first quarter that our growth priorities are taking hold. We are executing with discipline and measuring progress through observable changes in customer behavior. So, following the completion of my first quarter as Etsy’s CEO, I have even more conviction in our focus, and confidence in our ability to execute and translate recent momentum into durable growth.”