Shopify misses estimates and issues gloomy guidance - CNBC

Quick Read

Here's how the company did: Earnings: A loss of 3 cents per share, adjusted, vs.
an expected gain of 2 cents per share as expected by analysts, according to Refinitiv.
A loss of 3 cents per share, adjusted, vs.
an expected gain of 2 cents per share as expected by analysts, according to Refinitiv.
33 billion as expected by analysts, according to Refinitiv.

Shopify misses estimates and issues gloomy guidance - CNBC

In this photo illustration the logo of Canadian e-commerce company Shopify Inc. is displayed on a smartphone. Shopify on Wednesday reported weaker-than-expected results for the second quarter, and warned that inflation and rising interest rates would weigh on the business in the second half of the year. Here's how the company did: Earnings: A loss of 3 cents per share, adjusted, vs. an expected gain of 2 cents per share as expected by analysts, according to Refinitiv. A loss of 3 cents per share, adjusted, vs. an expected gain of 2 cents per share as expected by analysts, according to Refinitiv. Revenue: $1.3 billion, vs. $1.33 billion as expected by analysts, according to Refinitiv. The stock was up about 7% in afternoon trading as tech stocks rallied. Shopify's layoff announcement on Tuesday, and subsequent stock fall, appears to have "de-risked" its shares on Wednesday, said Tom Forte, an analyst at D.A. Davidson, who has a hold rating on the stock. Executives' commentary around efforts to curb spending, while continuing to take market share in e-commerce, may have allayed some investors' fears, Forte added. The Canadian company, which helps business owners set up a store online, was a Covid-19 pandemic darling. When the pandemic forced physical stores to temporarily shutter, many retailers turned to Shopify to establish a presence online. That propelled Shopify's stock to new highs, and it saw double-digit revenue growth throughout much of 2020 and 2021. Investors are closely watching earnings results from retailers and e-commerce companies to see how elevated inflation and the threat of a recession are impacting consumer spending habits. The latest warning came earlier this week when Walmart slashed its profit forecast. Amazon is set to report second-quarter results on Thursday, and Etsy will report results on Wednesday after market close. On Wednesday, Shopify said it now expects 2022 "will end up being different, more of a transition year, in which ecommerce has largely reset to the pre-Covid trend line and is now pressured by persistent high inflation." It projected gross merchandise volume will be more evenly distributed across the four quarters, given pressure on consumer spending and currency headwinds from the stronger U.S. dollar. Shopify also said it expects to generate an adjusted operating loss for the second half of 2022. The results come one day after Shopify said it was laying off about 1,000 employees, or roughly 10% of its global workforce, amid stagnating growth in e-commerce. The announcement sent Shopify's stock tumbling, and shares closed down 14% on Tuesday. Shopify CFO Amy Shapero said on a conference call with analysts Wednesday that, for the remainder of 2022, the company intends "to slow hiring to only the most strategic." It will also reduce spending in "lower priority areas and non-core activities," as well as target sales and marketing spend on "activities with shorter payback periods." "Shopify is committed to being operationally extremely efficient," CEO Tobi Lutke said on the call. WATCH: Walmart's warning an underlying trend across the whole economy, says Jerry Storch
The Original Article can be found on CNBC

Walmart Brings TikTok-esque Shoppable Livestream To Its E-commerce Site - The Drum

The retailer is working with live shopping tech firm Firework to circumvent the walled gardens and take complete control of transactions. Walmart’s media retail business, Walmart …

Read more here
Walmart Brings TikTok-esque Shoppable Livestream To Its E-commerce Site - The Drum

DMA | Digital Marketing Agency ranked No #1 Ecommerce SEO by topseos.com in October, 2022 - Yahoo Finance

topseos.com, an independent authority, has named DMA | Digital Marketing Agency the top-rated ecommerce search engine optimization agency for October 2022. NAPLES, Fla., Oct. 5, 2 …

Read more here
DMA | Digital Marketing Agency ranked No #1 Ecommerce SEO by topseos.com in October, 2022 - Yahoo Finance

Airhouse to take thousands of U.S. ecommerce brands global in new partnership with SEKO Logistics - Business Wire

BAY AREA, Calif.--(BUSINESS WIRE)--Airhouse, a next-generation fulfillment platform that simplifies ecommerce operations and logistics for modern brands, plans to help thousands of …

Read more here
Airhouse to take thousands of U.S. ecommerce brands global in new partnership with SEKO Logistics - Business Wire

71% of online sellers are optimistic about ecommerce despite cost of living crisis - Charged Retail

Online sellers remain optimistic about the current ecommerce market despite a looming recession, according to a new report from customer support solution eDesk. The research revea …

Read more here
71% of online sellers are optimistic about ecommerce despite cost of living crisis - Charged Retail

The Spanish B2C Ecommerce Industry is Expected to Reach $137 Billion by 2026 - PR Newswire

DUBLIN, Oct. 4, 2022 /PRNewswire/ -- The "Spain B2C Ecommerce Market Opportunities Databook - 100+ KPIs on Ecommerce Verticals (Shopping, Travel, Food Service, Media & Entertainmen …

Read more here
The Spanish B2C Ecommerce Industry is Expected to Reach $137 Billion by 2026 - PR Newswire