Shopify earnings outlook sinks as ecommerce worries mount

first-quarter financial results, as growing concerns about e-commerce weigh on the Ottawa company’s shares amid a rout in global technology stocks.

to shop in physical stores during the pandemic. But, as consumers gradually return to old habits and surging inflation raises questions about spending, analysts are cautioning that online traffic growth seen during the pandemic may not prove sustainable for companies such as Shopify,Last week, Shopify became this year’s worst Canadian performer on the S&P/TSX Composite Index. The company has lost more than $155-billion in market value so far this year, a roughly 69-per-cent drop.

“Right now, if you look at the state of e-commerce, there’s multiple challenges,” he added. “There’s inflation, continued supply chain challenges, and then you have a backdrop where investor sentiment for technology stocks has soured meaningfully. All of that is working against Shopify.”

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