Shopify

Shopify has strong Q3 as pandemic drives rapid e-commerce shift

A robot helps a warehouse worker at a Shopify fulfillment facility.

Shopify (NYSE:SHOP) reported large increases in revenue and profits in its third-quarter earnings report on Thursday, beating analysts’ estimates as the Canadian company benefitted from the rapid move to e-commerce because of the COVID-19 pandemic.

The e-commerce company’s earnings of $1.13 per share beat analysts’ estimates of $0.51 by 121.5%. This is a 769.2% increase from a year ago.

Shopify reported quarterly sales of $767.40 million, which beat the analysts’ estimates of $653.22 million by...

https://www.freightwaves.com/news/shopify-has-strong-q3-as-pandemic-drives-rapid-e-commerce-shift

FreightCast Weekly Recap (8/3-8/9)

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Today’s Pickup: Shopify’s fulfillment strategy ‘validated’ by COVID-19

A warehouse worker with a robot at a Shopify fulfillment facility.

Good day,

Shopify had its single-largest increase in merchants joining its fulfillment network during the first quarter, the company said today as it reported financial results.

Canada-based Shopify did not disclose any specifics about the growth of its fulfillment business. But executives made clear that its push into fulfillment takes on renewed importance as COVID-19 accelerates brick-and-mortar stores shift online.

“I think COVID-19 validates the decision to go into fulfillment,” Shopify Chief...

https://www.freightwaves.com/news/todays-pickup-shopifys-fulfillment-strategy-validated-by-covid-19

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