Shopify Shares Rise as Black Friday Sales Surge

By Adriano Marchese

Shopify shares rose in early trading Monday after the company said it saw strong growth in sales during the key Black Friday period.

At 10:01 a.m. ET, shares trading in Toronto were 4.7% higher at 100.75 Canadian dollars ($73.87).

The Canadian ecommerce platform said Saturday that its merchants drove a 22% increase in sales over last year, reaching $4.1 billion in sales from businesses worldwide.

Shopify said that among the top categories for deal-seekers were clothing, personal care and jewelry, with shoppers from U.S., U.K. and Canada leading the charge as top-selling countries.

It said that 15% of all orders were made across borders, and that there was a 33% increase in global sales made on its point-of-sale system.

"The world showed up for our merchants, and the excitement is only building, with Cyber Monday still to come," President Harley Finkelstein said.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

November 27, 2023 10:29 ET (15:29 GMT)

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