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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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Discount Retailer Primark Predicts Substantial Loss

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Bezos noted that the added costs for the eCommerce giant will likely equal the amount of money Amazon would have expected to have earned profits in typical times. Amazon Founder and CEO Jeff Bezos told investors that he expects to spend $4 billion in added costs in the second quarter alone.

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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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eCommerce Eroding Traditional Retail Metrics

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The study is a companion piece to a May 2016 study that found that efforts to beef up digital commerce capacity were both eroding in-store sales and eating up profitability. The expansion in the numbers of stores is also lowering sales-per-store figures, and selling online is incredibly expensive for retailers.

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eCommerce Co Jumia Files US IPO

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Pan-African eCommerce company Jumia filed for an initial public offering (IPO) on the New York Stock Exchange (NYSE) on Tuesday (March 12). We’re really focused on growing our existing business, leadership position, number of sellers and consumer adoption in those markets,” Poignonnec said. Reports confirmed the news via U.S.

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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.

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Study: eCommerce Continues To Drain Brick-And-Mortar

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We know that eCommerce is taking away from brick-and-mortar sales; a new study has revealed the details on just how big a bite that’s becoming. Retailers need to recalibrate and fine-tune their economic business models to reflect today’s new variable cost-oriented online model.