×
27 295
Fashion Jobs
TJ MAXX
Loss Prevention Detective East Brunswick nj
Permanent · East Brunswick
TJ MAXX
Loss Prevention Detective
Permanent · Mechanicsburg
TJX CORPORATE
Product Compliance Risk Analyst
Permanent · Marlborough
HOMEGOODS
70118-lp Detective
Permanent · Danvers
TJX CORPORATE
Compliance Risk Analyst, Privacy And Data Protection
Permanent · Marlborough
HOMEGOODS
70118-lp Detective
Permanent · Swampscott
TJ MAXX
lp Detective
Permanent · Chicago
VICTORIA'S SECRET
Business Analyst, Customer Data Operations
Permanent · Reynoldsburg
BATH & BODY WORKS
Associate Merchandise Planner, Digital
Permanent · Reynoldsburg
PINK
Brand Operations Manager-Geneva Commons
Permanent · Geneva
L BRANDS
Manager, Procurement – Retail Operations And Non-Merchandise Fulfillment
Permanent · Reynoldsburg
FOOT LOCKER
Community Marketing Manager
Permanent · Dallas
ESTÉE LAUDER COMPANIES
Global Mps Planner - Haircare
Permanent · Blaine
ESTÉE LAUDER COMPANIES
Director, Finance & Business Management, Bobbi Brown na
Permanent · New York
ESTÉE LAUDER COMPANIES
Global Mps Planner - Skincare
Permanent · Melville
ESTÉE LAUDER
Director, Finance & Strategy, Estee Lauder
Permanent · New York
CLINIQUE
Retail Beauty Sales Manager - Clinique - 37.5Hrs - Stanford Mall - Palo Alto, ca
Permanent · Palo Alto
ROSS STORES
Store Protection Specialist
Permanent · Tampa
ROSS STORES
Buyer, Home
Permanent · New York
ROSS STORES
Buyer
Permanent · New York
ROSS STORES
Store Protection Specialist
Permanent · Chula Vista
ROSS STORES
Store Protection Specialist
Permanent · Miami
By
Reuters
Published
Feb 13, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Shopify profit forecast misses on higher spending, shares fall

By
Reuters
Published
Feb 13, 2019

Canadian e-commerce software maker Shopify Inc’s full-year adjusted operating income forecast fell short of analysts’ estimates on Tuesday, overshadowing a strong quarterly profit beat and sending its shares down 4 percent.


The company said it expects revenue for the year to be in the range of $1.46 billion to $1.48 billion, while analysts on average were expecting $1.48 billion - Reuters


Shopify, whose products enable merchants to sell everything from infant formula to cosmetics online, forecast adjusted operating income in the range of $10 million to $20 million.

Analysts on average were expecting $55 million, according to IBES data from Refinitiv.

Shopify said it would set aside about $30 million for brand promotions in 2019, as the company invests heavily to boost its presence in augmented reality and virtual reality based applications.

In the fourth quarter, operating expenses surged about 53 percent to $195.2 million, as Shopify faces intensifying competition from software makers such as Salesforce.com and Adobe Systems in the e-commerce solutions market.

The company said it expects revenue for the year to be in the range of $1.46 billion to $1.48 billion, while analysts on average were expecting $1.48 billion.

Some analysts said the revenue forecast was conservative. Shopify has outperformed initial forward-year top-line guidance in the last three years, said Baird Equity Research analyst Colin Sebastian.

Overall fourth-quarter revenue surged about 54 percent to $343.9 million, driven by higher holiday sales on its platform and merchant additions.

Shopify’s net loss narrowed to $1.5 million, or 1 cent per share, in the three months ended Dec. 31. Excluding items, the company earned 26 cents per share, beating the average analyst estimate of 20 cents.

Shopify’s U.S.-listed shares were down 4.2 percent at $165.73, while they were down nearly 4 percent on the Toronto Stock Exchange.

The Ottawa-based company’s Toronto shares had risen about 17 percent this year through Monday, as investors cheered its tie-ups with Canada’s booming cannabis industry and plans for international expansion.

© Thomson Reuters 2021 All rights reserved.