297
Fashion Jobs
H&M
Total Rewards Manager, Supply Chain
Permanent · TSIM SHA TSUI
H&M
Accounts Specialist
Permanent · TSIM SHA TSUI
ESTÉE LAUDER COMPANIES
Assistant Demand Planning Manager
Permanent · HONG KONG
ESTÉE LAUDER - BRAND
Retail Marketing Manager, Estée Lauder
Permanent · HONG KONG
CLINIQUE
Assistant Education Manager, Clinique
Permanent · HONG KONG
CLINIQUE
Senior Marketing Manager, Clinique
Permanent · HONG KONG
TOMMY HILFIGER
Senior Manager, Creative Services, Tommy Hilfiger Asia Pacific
Permanent · HONG KONG
AESOP
Retail Consultant
Permanent · SHA TIN
NEWELL
Senior Manager, Indirect Sourcing
Permanent · HONG KONG
L'OREAL GROUP
Group Product Manager
Permanent · HONG KONG
ADIDAS
Senior Manager, Materials Availability Management
Permanent · HONG KONG
L'OREAL GROUP
Assistant Purchasing Manager (Marketing, Digital IT)
Permanent · HONG KONG
PUMA
Manager Innovation Technical Apparel
Permanent · HONG KONG
DR. MARTENS
Head of Financial Accounting, Apac
Permanent · TSIM SHA TSUI
TJX COMPANIES
Director of Sourcing, Apparel -Hong Kong
Permanent · HONG KONG
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Hysan Place
Permanent · CAUSEWAY BAY
A & F
Hollister CO. - Brand Representative (Part-Time / Full-Time), Yoho Mall
Permanent · HONG KONG
A & F
Abercrombie & Fitch - Brand Representative (Part-Time / Full-Time), Harbour City
Permanent · TSIM SHA TSUI
KERING EYEWEAR
Kering Eyewear Assistant Trade Marketing Manager Travel Retail
Permanent · HONG KONG
JAEGER
Training Manager
Permanent · HONG KONG
L'OREAL GROUP
Retail And Education Manager
Permanent · HONG KONG
TORY BURCH
Senior Manager, Retail Training, Asia
Permanent · HONG KONG
By
Reuters
Published
May 4, 2023
Download
Download the article
Print
Text size

Shopify to lay off 20% of workforce, revenue tops expectations

By
Reuters
Published
May 4, 2023

Canada's Shopify Inc said on Thursday it would let go 20% of its workforce in a second round of layoffs and sold its logistics arm to freight forwarder Flexport, sending its U.S.-listed shares up 16% in premarket trading.


Reuters


The company also reported better-than-expected results for the first quarter, as more merchants used its online tools and targeting services to attract customers tackling high inflation. A host of new tools have encouraged more businesses from Mattel to Coty to join the platform, allowing the company to hike its subscription fees.

Known as the e-commerce platform for small businesses, Shopify had ramped up its order fulfillment network, when it expected the pandemic-led e-commerce boom to persist. But by mid-2022, it said it had over overestimated growth levels and laid off 10% of its workforce in July.

As the e-commerce boom brought by the global pandemic subsides, Shopify's spending in the fulfillment network has been more closely scrutinized by investors who worry the capital-intensive project could weigh on earnings.

The sale of the logistics unit Deliverr Inc, a company it acquired for $2.1 billion less than a year ago, was done in an all-stock deal that will give Shopify a 13% stake in Flexport - a startup in which it has made a previous investment.

Revenue was $1.51 billion in the quarter ended March 31, topping analysts' estimates of $1.43 billion, according to Refinitiv data. The company also posted a surprise adjusted profit of 1 cent per share, compared with expectations for a 4 cent loss.

© Thomson Reuters 2024 All rights reserved.