Shopify's merchants see record BFCM sales of $9.3 billion, but stock pulls back

Shares of Shopify Inc. (SHOP) fell 1.2% in premarket trading Tuesday, to pull back from the previous session's 20-month closing high, even as the e-commerce software company said its retail merchants enjoyed record sales over the Black Friday-Cyber Monday weekend. Shopify said BFCM sales at its merchants totaled $9.3 billion, up 24% from a year ago. The company said more than 61 million consumers bought from its merchants globally from early Friday to late Monday, with sales-per-minute reaching a peak of $4.2 million at 12:01 p.m. Eastern on Friday. The average cart for the weekend was $108.12, which was down from $110.71 on Black Friday. The best-selling categories were apparel and accessories, health and beauty and home and garden. Shopify's stock has rocketed 56.4% month to date through Monday, putting it on track for its best monthly performance since going public in 2015. In comparison, the S&P 500 has rallied 8.5% this month.

-Tomi Kilgore

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11-28-23 0841ET

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