Amazon has acquired Selz , a 7-year-old startup that helps entrepreneurs sell products online. The deal signals Amazon's continued focus on third-party sellers as it faces potential competition from Shopify.
"We have signed an agreement to be acquired by Amazon and are looking forward to working with them as we continue to build easy-to-use tools for entrepreneurs," wrote Rushe. "Nothing is changing for our customers at this time, and we'll be in touch with customers as and when we have further updates."
Quite a lot has been going on:
Retail: Shopify Beats Estimates With Q4 Results | PYMNTS.com
In today's top retail news, eCommerce company Shopify came out ahead of expectations with its fourth-quarter results, while retail sales climbed in January by 5.3 percent following three consecutive months of falling sales in the 2020 holiday shopping season. Plus, Camping World Holdings, Inc. has purchased two locations amid the ongoing growth of its physical presence.
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Shopify posted fourth-quarter results that exceeded estimates on Wednesday (Feb. 17), but it cautioned that the rate of growth triggered by the pandemic was not sustainable. The Canadian eCommerce company reported a four-fold increase in adjusted net income for the three months concluding Dec. 31, earning $198.8 million. That works out to $1.58 per share.
Stock Markets Sink on Shopify "Slowdown"; Comstock Looks to Charge Up in
Wednesday morning got off on the wrong foot for the stock market, as major market benchmarks pulled back after the release of some encouraging economic data. Retail sales were strong, and while that's good news for the economy, it raised fears that the federal government might be less likely to pass economic stimulus legislation.
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Shares of Shopify were down 8% on Wednesday morning. The company released fourth-quarter financial results that showed sustained growth, but investors seemed to want even more.
Stocks making the biggest moves midday: Wells Fargo, Palantir, Shopify and more
Wells Fargo — The bank stock jumped 5.2% after Bloomberg News reported that Fed officials had signaled to Wells Fargo that they would approve its overhaul plan. Wells Fargo has been operating under several restrictions, including an asset camp, related to its fake accounts scandal under prior leadership.
Shopify – Shares of the e-commerce company dropped 3.3% even after an earnings and revenue beat. Shopify earned an adjusted $1.58 per share for the fourth quarter, beating the $1.26 consensus estimate, according to Refinitiv. The company has been one of the biggest pandemic winners as businesses sought to move operations online. The stock soared 184% in 2020 and another 21% this year.
This may worth something:
Shopify (SHOP) Option Traders Optimistic, but ...
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Shopify's Secret Weapon Is Thousands of New Business Owners - WSJ
Small-business formation is surging in the U.S., and e-commerce company Shopify Inc. has been reaping the gains of that business boom.
But Shopify's business model carries risks. Analysts expect the surge in e-commerce that drove much of the company's growth to taper as the pandemic ebbs. "There could be a material deceleration in sales growth," said Tom Forte, an analyst with DA Davidson.
Fakespot Launches "Fakespot Guard" to Protect Consumers from Shopify Scams
NEW YORK, Feb. 17, 2021 (GLOBE NEWSWIRE) -- Fakespot , a free Chrome extension that detects fake product reviews and flags sketchy eCommerce sellers, today announced the launch of Fakespot Guard for Shopify Stores, a new feature to protect consumers from scam websites that are powered by Shopify.
Fakespot Guard gauges site trustworthiness using AI and proprietary algorithms, quickly analyzing data associated with the site (including reviews and eCommerce data) and returning one of four grades:
Shopify says fulfillment network handled record volumes during holidays - FreightWaves
Shopify's ( NYSE:SHOP ) U.S.-based fulfillment network handled a record volume during the holiday season, the Canadian e-commerce company said on Wednesday as it reported record fourth-quarter financial results .
The company offered no details about how many shipments the Shopify Fulfillment Network handled or the impact on its financial performance. The network, launched in 2019 , uses automated warehousing technology to allow merchants to manage inventory off-site and ship orders in direct competition with Amazon.
Happening on Twitter
*Wall Street's Q4 Earnings Season Continues To Wind Down! *Results This Week Are Due From: -Walmart -Shopify -Rok… https://t.co/IUs69NIbgl Investingcom (from Global) Sun Feb 14 15:00:02 +0000 2021
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