PDD Holdings, the multinational commerce group that owns and operates shopping platforms Pinduoduo and Temu, saw its revenue double year-over-year as consumers sought “value for money.” The company’s total revenues in the fourth quarter of 2023 were $12.5 billion, up 123% from the same quarter a...
As consumers splurge on gifts in spite of other budgetary cutbacks, Groupon is looking to capture this lucrative opportunity. The eCommerce marketplace shared on a call with analysts discussing its fourth-quarter and full-year 2023 financial results Friday (March 15) that, amid revenue declines, the company...
Deliveroo has logged its first-ever profit as it continues pushing past its restaurant roots. The British company on Thursday (March 14) announced earnings of 85 million pounds ($109 million) for 2023, following a loss of 45 million pounds the prior year. “Our focus on service and value for...
As even affluent consumers see their spending power diminish, Dollar Tree is making gains with high-income shoppers, even as the business on the whole faces ongoing challenges. The discount retail giant, which owns its self-titled banner as well as Family Dollar, shared on a call...
As shoppers continue to manage their budgets amid years of financial challenges, Petco has found itself caught unaware by the extent of pet parents’ pull back, especially since this demographic was so reluctant to cut back in the first place. On a call with analysts...
LoanDepot is investing in technology as it prepares for a rebound in industrywide mortgage origination volumes. While the provider of home lending solutions reduced its expenses by 36% in 2023, right-sizing itself for today’s lower market volumes, it also invested in platforms and systems to boost...
Priority Technology Holdings saw demand for its payments and Banking-as-a-Service (BaaS) offerings grow across its three segments: small- to medium-sized business (SMB) acquiring solutions, B2B payables and enterprise BaaS. Overall, the company’s revenue increased 12% year-over-year in the fourth quarter of 2023, Priority said in...
CarParts.com is leaning heavily on its new mobile app and its revamped content marketing efforts as it looks to boost its gross profit. These initiatives around commerce experience and marketing are paying off in higher sales volume and lower customer acquisition costs, David Meniane, CEO of Carparts.com,...
MoneyLion added a premium membership offering and artificial intelligence-powered search to its personal financial management platform. The additions are meant to support the growth of the platform, which saw its customer base more than double to 14 million over the past year, according to a Thursday...
