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Poshmark Files For IPO After Posting Record Profits

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Secondhand eCommerce platform Poshmark filed for an initial public offering (IPO) after posting more than $30 million in profit across two consecutive quarters. “We We only recently became profitable and have experienced net losses. The Silicon Valley startup posted a net loss of $14.5 million last year.

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Alibaba eCommerce Rival Pinduoduo Secures $1B In Funding

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Chinese upstart eCommerce site Pinduoduo (PDD) is raising more than $1 billion to help compete with Chinese giants like Alibaba and JD.com, according to reports. The company puts a twist on the traditional eCommerce playbook by offering a social aspect – shoppers who team up with friends or family can get discounts by making group orders.

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Pinduoduo Aims To Raise Up To $5.6B To Boost Online Grocery Shopping

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Chinese eCommerce platform Pinduoduo plans to raise up to $5.6 billion to invest in its one-day delivery service of farm goods across China, among other projects. As most Chinese consumers tend to shop daily for groceries, online grocery shopping has become an increasingly attractive investment for internet companies in the region.

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Sneaker Sales Propel 3Q Surge In Under Armour Earnings

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Sportswear giant Under Armour reported a third-quarter profit of $38.9 Patrik Frisk, president and CEO of Under Armour, told The Baltimore Sun that the company is focused on returning to profitability and is planning to invest in eCommerce and company-owned retail outlets. . The deal is valued at up to $345 million.

Sales 87
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Petco Files For IPO As Demand For Pets Surges During Pandemic 

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The number of shares and the pricing have not yet been released. . Pets are anticipated to stay popular, with the number of households with pets going up 4 percent in 2020 alone. The pet retail chain is also moving towards profitability after net losses the past two years. Same-store sales surged 9.6 percent this year.

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Walmart Amazon Whole Paycheck Tracker: Grocery Expansions, eCommerce Improvements And Voice Extensions

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The first big news over the wires was official confirmation that the eCommerce giant will open an Amazon branded grocery store next year in California. Loss of the Week: Nike Says So Long to Amazon . The move ends a two-year eCommerce partnership between the two brands. Worry of the Week: Buttressing the Full eCommerce Offering.

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Sally Beauty Holdings Sees Q3 Net Sales Drop 28 Pct YOY

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The Texas-based beauty supplier reported on Thursday (July 30) that its losses were partially offset by a surge in online sales and the opening of its shops from mid-April through the end of June. eCommerce sales were $137 million for Q3, a 278 percent increase from the prior year. percent for Q3. percent as operations restarted.

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