Shopper's Stop logo

SHOPERSTOP - Shopper's Stop News Story

₹159.75 0.2  0.1%

Last Trade - 11:25am

Consumer Cyclicals
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 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.*: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)
 ((; within U.S.+1 646 223
8780; outside U.S. +91 80 6749 0543;))
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.