In today’s top retail news, e.l.f. Beauty reported that eCommerce helped fuel its net sales surge, while ShipBob is officially teaming with Walmart. Plus, Best Buy’s earnings showed the positive effect of the stay-at-home economy.
eCommerce Helps Power e.l.f. Beauty’s Net Sales Surge
e.l.f. Beauty reported that net sales increased by 24 percent to $92.7 million for Q4 fiscal 2021, primarily supported by “strength in eCommerce, international and our national retailers” per a press release. The firm reported that gross margin dropped about 110 basis points to 63.2 percent. As for the company’s overall botton-line results, e.l.f. Beauty reported 16 cents in adjusted diluted earnings per share.
ShipBob Teams With Walmart To Enable 2-Day Shipping For Marketplace Sellers
ShipBob is officially collaborating with Walmart and is listed as a shipping and fulfillment offering for the latter company’s marketplace sellers. ShipBob links up with Walmart Marketplace to show free two-day delivery badging and fill two-day orders for approved Walmat Marketplace merchants. “Our mission is to democratize fulfillment for companies of all sizes, which is why we are excited to partner closely with best-in-class platforms like Walmart Marketplace,” ShipBob CEO and Co-founder Dhruv Saxena said in an announcement.
Best Buy Earnings Show Positive Impact Of Stay-at-Home Economy
Best Buy’s first-quarter earnings results posted on Thursday (May 27) showed that people kept spending even into what appeared to be the waning months of lockdowns and social distancing. The retailer reported that sales grew 36 percent in the fiscal first quarter, as shoppers’ stimulus-powered spending spree included consumer electronics.
Discounters, Off-Price Retailers Face A Future Without Stimulus Checks
Even though the last round of $1,400 stimulus checks provided in March might feel like ancient history, for the merchants that serve bargain-hunting and budget-minded shoppers that obtained those financial resources, every passing day — and quarter — is a cold reminder that those infusions are never returning.