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Read previewIn October 2022, Shopify's once high-flying stock hit its lowest price since before the Covid pandemic. AdvertisementNow, after two rounds of layoffs and a divestment of its fulfillment and logistics business, the picture looks a bit different for Shopify. Shedding a "money-losing logistics business"Dropping logistics and fulfillment is a major part of Shopify's stock comeback story. In May 2023, Shopify announced it would be selling the logistics business entirely to Flexport. In May 2023, Shopify cut another 20% of its workforce as it sold its logistics business to Flexport.
Persons: , Shopify's, Shopify, Oppenheimer, Ken Wong, Wong, D.A, Davidson, Gil Luria, Tobi Lütke, Lütke, Luria, Morgan Stanley, Jeff Hoffmeister, Bhavin Shah, GMV, We've, Shah Organizations: Service, Business, Systems, Investors, SEC, Deutsche Bank Locations: Salesforce, mstone@businessinsider.com
Despite the seeming rush to shop, this Black Friday ushered in moderately higher promotions over last year and mixed in-store traffic, according to some Wall Street analysts. Black Friday winners Value-focused shopping destinations seemed to win big Friday, based on annual store checks from a slew of Wall Street shops. The Black Friday shopping extravaganza also ushered in some bullish sentiment toward Shopify . Black Friday losers Not every popular retailer seemed to kick off the holiday shopping period on a strong note. While Lululemon drove strong in-store traffic, helped in part by advertising use in Black Friday markdowns, Nike and Under Armour both showed higher promotions, said Piper Sandler's Abbie Zvejnieks.
Persons: Michael Lasser, Bradley Thomas, Thomas, Kohl's, Morgan Stanley, Alex Straton, Goldman Sachs, Kate McShane, JPMorgan's Matthew Boss, Piper Sandler's Korinne Wolfmeyer, Morgan Stanley's Keith Weiss, Bhavin Shah, shouldn't, Nordstrom, Straton, Lululemon, Armour, Piper Sandler's Abbie Zvejnieks, lululemon Organizations: Adobe Analytics, UBS, Walmart, KeyBanc Capital, Dick's Sporting Goods, Body, Deutsche, Eagle Outfitters, Nike Locations: U.S
Shopify is in vogue as brands grow increasingly interested in the e-commerce platform, according to Deutsche Bank. Analyst Bhavin Shah upgraded the e-commerce stock to buy from hold. Shah also raised his price target by $10 to $50, which implies a 23.5% upside from where Shopify closed Friday. He pointed to Mattel and Supreme as two examples of brands whose presences are helping Shopify outpace the broader U.S. e-commerce ecosystem. The pace of operating expense growth is also expected to cool in 2023, Shah said.
She took one look at the hospital charges and decided to investigate further. “Even in our case, we waited until the second bill,” Kalsariya said. Depending on the medical procedure, Kalsariya said, a bill could contain an overwhelming number of line items that are hard to understand. Dr. Bhavin Shah was left with a $3,319 medical bill after he landed in an emergency room following a skiing accident in Wisconsin. But when a KHN reporter responded to the family’s request for help investigating Shah’s hospital bill, the couple decided to send in the form to accurately document their saga.
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