×
6 141
Fashion Jobs
BURBERRY
IT Project Manager
Permanent · LONDON
NEXT
Delivery Coordinator - Bolton Market Place
Permanent · BOLTON
NEXT
Delivery Coordinator - Bolton Trinity Retail Park
Permanent · BOLTON
EVERLAST GYMS
Assistant General Manager - Everlast Gyms
Permanent · GRAYS
FARFETCH
Product Marketing Manager
Permanent · LONDON
ON RUNNING
Key Account Manager Benelux (Dutch & English Speaking)
Permanent · LONDON
PRIMARK
Product Owner, Integrations Services
Permanent · READING
SUPERDRY
Senior Legal Counsel - ip
Permanent · CHELTENHAM
PRIMARK
Stockroom Retail Assistant
Permanent · WOKING
TK MAXX
Full Time Permanent Loss Prevention Advisor tk Maxx Newry
Permanent · Newry
PRIMARK
Stockroom Retail Assistant
Permanent · WAKEFIELD
FRASERS GROUP FINANCIAL SERVICES
Credit Risk Manager - Fraud
Permanent · CLAYTON-LE-MOORS
SPORTS DIRECT FITNESS
General Manager - Everlast Gyms
Permanent · BRISTOL
NEWELL
Performance Marketing Manager - Ecommerce
Permanent · LONDON
NEWELL
Digital Shelf & Experience Specialist - Ecommerce
Permanent · LONDON
NEWELL
Demand Planner
Permanent · BRISTOL
PRIMARK
Stockroom Retail Assistant
Permanent · WATFORD
SUPERDRY
Ecommerce Content Producer
Permanent · CHELTENHAM
TK MAXX
10933-Loss Prevention/Securityofficer
Permanent · Nottingham
TJX EUROPE
IT Engineering Manager
Permanent · Watford
TJX EUROPE
tk Maxx Leicester - Loss Prevention Officer (Security) - Full Time 37.5hrs
Permanent · Leicester
TAPESTRY
Coordinator, Store Operations & Communications
Permanent · London
Ads
By
Reuters
Published
Apr 30, 2019
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Shopify raises FY forecast on demand for e-commerce tools; shares surge

By
Reuters
Published
Apr 30, 2019

Shopify Inc raised its 2019 earnings forecast and posted a surprise quarterly profit on Tuesday on strong demand for its software that helps retailers sell goods online, sending its shares up 7 percent to a record high.




The company has stepped up its spending to stay ahead in a competitive market by launching a new line of point-of-sale hardware and plans to roll out Shopify Pay to rival Alphabet Inc’s Google Pay and Apple Inc’s payments services.

Shopify, founded a little over a decade ago as an online store to sell snowboard equipment, makes its money by charging online merchants a monthly fee for using its technology and helping them run their online businesses.

The company, which counts Kylie cosmetics, Nestle SA and Unilever Plc among its 800,000 customers, also hopes to boost its merchant database under its premium “Shopify Plus” offering.

The Ottawa-based company said it now expects full-year adjusted operating income of $20 million to $30 million, above the $10 million to $20 million it forecast earlier.

Revenue is expected in the range of $1.48 billion to $1.50 billion, also above the $1.46 billion to $1.48 billion it estimated earlier.

However, net loss widened to $24.1 million from $15.9 million a year earlier, as costs surged 50 percent to $216.1 million.

Excluding items, the company earned 9 cents per share, compared with a loss of 5 cents estimated by analysts, according to IBES data from Refinitiv.

Revenue for the quarter rose to $320.5 million, beating estimates of $309.4 million.

© Thomson Reuters 2023 All rights reserved.