Lightspeed hq revenue12/7/2023 The company recently completed a renovation of its Montreal headquarters to make it more “homey” to encourage employees to return to the office of their own free will. Lightspeed remains focused on building its business even though its share price has fallen 73 per cent this year. “And although we saw a particularly strong uptick in Europe, Hospitality GTV remained at healthy levels in all regions.” “Hospitality gross transaction value (GTV) grew 40 per cent in the quarter organically,” she said. Consumers are prioritizing spending in “areas such as travel and entertainment,” she said, rather than goods. Are Canada's big grocers profiting off inflation? The answer is complicatedĪsha Bakshani, Lightspeed’s chief financial officer, said that interest rates and inflation were indeed having an impact, but were affecting the retail side of the business more than the hospitality side.Tim Hortons' sales in Canada top pre-pandemic levels for first time. ‘Sweet deal’ for Tims? Coffee-and-doughnut privacy breach settlement a marketing win, says expert.This advertisement has not loaded yet, but your article continues below. And so, this return to the physical world is creating a lot of demand for us.” Lightspeed’s emphasis on retail and hospitality makes the company “well-balanced,” he added. The strength of Lightspeed (is that) 90 per cent of our Gross Merchandise Volume (GMV) is physical retailers and restaurateurs. “We are not a pure e-commerce or pure digital company. “For me, it’s very simple,” Chauvet said. During a conference call with shareholders, he elaborated when an analyst alluded to the tech layoffs and share price declines. Lightpseed, Chauvet said, is not in that situation. “What happened during COVID is that a lot of pure digital players had a lot of tailwind,” Chauvet said, “and now they’re having a hard time.” This is partly due to the fact that consumers have returned to brick-and-mortar retail stores, pulling business from online merchants. Shares of a number of e-commerce companies have declined in recent months. laid off 10 per cent of its staff in late July, and it’s not the only company struggling. The e-commerce sector is experiencing a shake-up as the pandemic-era growth fizzles out. Here’s what you need to know about their earnings for the three-month period ending June 30: But those gains were not evenly distributed, as improvements in the hospitality sector were not enough to outweigh headwinds on the retail side.
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