{"id":13604,"date":"2023-05-25T09:16:27","date_gmt":"2023-05-25T13:16:27","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/weaker-u-s-discretionary-spending-may-impact-shopify-bnp-paribas-analysts-say\/"},"modified":"2023-05-25T09:16:28","modified_gmt":"2023-05-25T13:16:28","slug":"weaker-u-s-discretionary-spending-may-impact-shopify-bnp-paribas-analysts-say","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=13604","title":{"rendered":"Weaker U.S. discretionary spending may impact Shopify, BNP Paribas analysts say"},"content":{"rendered":"
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\u00a9 Reuters <\/span>
\n<\/i>\n<\/div>\n

Investing.com —\u00a0Weakening U.S. consumer spending on higher-priced items may limit growth outperformance at Shopify Inc <\/span><\/span> (NYSE:), analysts at BNP Paribas Exane said in a note on Wednesday downgrading their rating of the Canadian e-commerce group to underperform from neutral.<\/p>\n

Earnings from American retail chains like Home Depot <\/span><\/span> (NYSE:) and Lowe\u2019s (NYSE:) have been interpreted as a possible sign that cost-of-living pressures are leading shoppers in the world’s largest economy to rein in discretionary expenditures in favor of essential items.<\/p>\n

The BNP Paribas analysts warned that this trend could impact Shopify, which offers its clients tools and services to set up their own online stores.<\/p>\n

The company saw demand surge during the pandemic, leading it to invest heavily in its order-fulfillment network. However, that boom has since waned, forcing Shopify to divest its logistics business and announce a wave of staff cuts.<\/p>\n

Shopify’s results remained resilient in the first quarter as a suite of new tools helped justify an uptick in its subscription fees. Revenue and adjusted income both beat estimates.<\/p>\n

However, the BNP Paribas analysts said they expect the current quarter to be “noisy,” with the sale of the logistics arm causing a slight step down in revenue.<\/p>\n

Shares in Shopify were lower in early U.S. trading.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters Investing.com —\u00a0Weakening U.S. consumer spending on higher-priced items may limit growth outperformance at Shopify Inc (NYSE:), analysts at BNP Paribas Exane said in a note on Wednesday downgrading their rating of the Canadian e-commerce group to underperform from neutral. Earnings from American retail chains like Home Depot (NYSE:) and Lowe\u2019s (NYSE:) have been […]<\/p>\n","protected":false},"author":1,"featured_media":13605,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-13604","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nWeaker U.S. discretionary spending may impact Shopify, BNP Paribas analysts say | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters Investing.com --\u00a0Weakening U.S. consumer spending on higher-priced items may limit growth outperformance at Shopify Inc (NYSE:), analysts at BNP\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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