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SHOPERSTOP - Shopper's Stop News Story

₹159.75 0.2  0.1%

Last Trade - 11:25am

Sector
Consumer Cyclicals
Size
Small Cap
Market Cap £142.6m
Enterprise Value £348.2m
Revenue £351.8m
Position in Universe 568th / 3003

UPDATE 1-Shopify posts bigger quarterly loss on higher spending

Tue 29th October, 2019 11:48am
(Adds details, share movement)
    Oct 29 (Reuters) - Canada's Shopify Inc  SHOP.TO   SHOP.N 
posted a bigger quarterly net loss on Tuesday as it spent more
to add sellers to its e-commerce platform and expand fulfillment
centres across the United States, sending shares down 8.6%
before the bell.
    The company had said in June it planned to spend over $1
billion for more fulfillment centres, as it faces stiff
competition from  Amazon.com Inc  AMZN.O  and EBay Inc  EBAY.O .
    Total operating expenses in the third quarter rose to $252.4
million from $181.1 million a year earlier.
    The company's net loss tripled to $72.8 million, or 64 cents
per share, in the quarter ended Sept. 30, from a year earlier.
 urn:newsml:reuters.com:*:nBw73Jxdja
    The Ottawa-based company reported a total revenue of $390.6
million, up 45% year-over-year.
    The company expects revenue between $472 million and $482
million in the fourth quarter, above analysts' expectations of
$470.6 million.
    

 (Reporting by Ambhini Aishwarya in Bengaluru; Editing by
Shinjini Ganguli, Arun Koyyur)
 ((Ambhini.Aishwarya@thomsonreuters.com; within U.S.+1 646 223
8780; outside U.S. +91 80 6749 0543;))
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