Retail news that keeps industry pros in the know
Retail Brew delivers the latest retail industry news and insights surrounding marketing, DTC, and e-commerce to keep leaders and decision-makers up to date.
For all the football fans, now that you're not preoccupied on Mondays doomscrolling through hot takes on your team, we should have your undivided attention. Here’s what’s going on in retail this week.
In earnings: Shopify reports earnings tomorrow and the company is, to quote the meme, locked in. Wall Street expects to see strong Q4 results, following a Q3 that saw Shopify’s revenue spike 25% YoY to $1.7 billion.
- In January, the company’s stock surpassed $80 per share for the first time in almost two years.
- The share price peaked in 2021 at $169 and bottomed out at $26 between then and now.
Retail Brew recently caught up with Shopify President Harley Finkelstein, who said this year the company can make hay in the traditional enterprise market. Finkelstein also mentioned his hope of partnering with Chanel.
“I think we could create an amazing online experience for Chanel that doesn’t really exist right now,” Finkelstein told Retail Brew. “And they could still preserve their incredible upscale experience, but also digital. I don’t think they’re mutually exclusive.”
In new hires: Today marks the start of Anca Marola’s tenure as Sephora’s global chief digital officer. Marola’s responsibilities include building the company’s data strategy and improving the omnichannel experience for Sephora’s customers.
- The company is seen as one of the most innovative leaders in the beauty space, as the second largest beauty e-commerce site in the world behind China-based Tmall.
- It helps that Sephora is part of the LVMH family, where Marola has extensive experience in data analytics.
“Over the past years, we have accelerated our data and digital capabilities to turn them into a growth engine for LVMH,” Toni Belloni, group managing director for LVMH, told WWD. “Anca has been a key contributor for this transformation, building a talented organization and a robust data strategy for the group.”
E-commerce pet retailer Chewy is bringing on David Reeder as its new chief financial officer, starting Wednesday. Reeder previously served as CFO of semiconductor manufacturer GlobalFoundries.
+1: We didn’t forget that Wednesday is also one of the largest consumer holidays on the calendar. Retail Brew broke down how much shoppers are predicted to spend and where the dollars will go.