SoFi Technologies’ latest quarterly earnings results released Monday (April 29) showed a surge in direct deposit activity — and that more customers are using SoFi Money accounts for those direct deposits. CEO Anthony Noto observed on a conference call with analysts that total deposits were up 16% year over year during...
The storyline is playing out nicely for Netflix. The streaming company reported its latest earnings on Thursday (April 18), with Wall Street keeping a close eye on expected revenue and subscriber growth resulting from its recent password-sharing crackdown. But no one expected the dramatic results it...
The opening week of first-quarter earnings season was billed as a referendum on the state of the U.S. economy, specifically consumer spending. While Wells Fargo didn’t post stellar earnings Friday (April 12) it did vote “yes” on the economic prospects for the balance of 2024. “We continue to see...
Amazon CEO Andy Jassy published his 2023 Letter to Shareholders Thursday (April 11), outlining how the company is changing and its goals for the future. It’s a 28-minute read by Amazon’s own count. If you don’t have the half hour to spare, here are some key highlights (a three- to...
February 28, 2024
With consumers increasingly expecting their shoppable media experiences to flow more seamlessly between entertainment and commerce, traditional shopping networks such as HSN and QVC are seeing revenue declines. Qurate Retail, parent company of QVC, HSN and other brands, reported in its fourth-quarter and full-year 2023 earnings results Wednesday (Feb. 28) that its QxH segment, which […]
February 16, 2024
Renewed investor enthusiasm for crypto has been good news for U.S. cryptocurrency exchange Coinbase. And while 2023 wasn’t the greatest year for crypto, it was no 2022, and Coinbase’s latest quarterly...
November 21, 2023
As temperatures stayed warm in September and October, Kohl’s discovered that it had a surplus of its cold weather inventory beyond what was initially expected. In response to the downturn...
October 04, 2023
A hallmark of subscription startups has always been the lure of recurring revenues. A recurring theme has also been that profits are elusive — and sometimes the pressures on the business...
April 10, 2024
Retailers’ revenue from store credit cards is reportedly facing pressure for several reasons. These forces are impacting all retailers, but especially department stores, whose businesses face other challenges as well, CNBC reported Wednesday (April 10). The latest change affecting store credit cards is the new federal rule that will cap credit card late fees at $8, according […]
March 20, 2024
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...
March 06, 2024
Foot Locker is accelerating its transformation into an omnichannel retailer in 2024 after making gains in 2023. The specialty athletic retailer aims to “make the customer journey more dynamic, personalized and...
February 27, 2024
In a bid to navigate through tough times, Hasbro is sharpening its focus on cutting costs to revive its toy and game business. Despite a challenging year that saw a...
