• About
  • Privacy Policy
  • Contact
Tech Newsday
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News
No Result
View All Result
Tech Newsday
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News
No Result
View All Result
Tech Newsday
No Result
View All Result
Home Companies

Poshmark Cautions Of Marketing Hit From Apple’s Ad Tracking Changes

TND News Desk by TND News Desk
August 12, 2021
in Companies
0 0
0

Second-hand retailer Poshmark Inc predicted Tuesday that third-quarter sales would be far below estimates and warned that its marketing efforts were being adversely affected by Apple’s new privacy policies on tracking digital advertising.

Apple announced a rule in April requiring developers to ask for permission to collect data to track users across various websites and apps, a policy that Facebook had criticized, alleging that this can potentially harm customers.

Poshmark plunged 7% in after-hours trading and was more than 25% below their January IPO price.

Poshmark, which relies on social media marketing to attract shoppers, felt the impact of Apple’s new policy at the end of the second quarter and is likely to continue to feel the effects in the current quarter.

The company expects third-quarter revenue to be between $81 million and $83 million, with the median slightly below the $82.4 million estimates.

Poshmark, however, remains confident that the impact of Apple’s policy will be temporary, as the retailer has spent heavily on alternatives such as TV commercials and connections with celebrities such as Marie Kondo.

Poshmark’s sales rose 22% to $81.8 million in the second quarter, above Refinitiv IBES ‘estimate of $80.3 million, as it attracted thrifty young shoppers looking for greener ways to buy everything from used T-shirts to fancy boutique dresses.

For more information, read the original story in Reuters.

Tags: Appleposhmark

Subscribe

About Tech News Day

In just 10 minutes you will have all your leadership tech news needs covered. Our Editors browse the top tech news sites for you, get rid of the fluff and post summaries of the best. Our content is created by trained professionals and enhanced for IT leaders using leading edge artificial intelligence.

About

Tech Newsday

Tech News Day picks the new, most relevant tech stories.

Our selection is done by industry professionals – executives like you who pick the top stories for that day. Our writers summarize these to give you a quick summary and the key takeaways.

SUBSCRIBE

Categories

  • Artificial Intelligence
  • Auto Tech
  • Blockchain
  • Careers & Education
  • Channel Strategy
  • Cloud
  • Communications & Telecom
  • Companies
  • Data & Ananytics
  • Development
  • Digital Transformation
  • Distribution
  • Diversity & Inclusion
  • eCommerce
  • Emerging Tech
  • End User Hardware
  • Engineering
  • Financial
  • Future of Work
  • Governance
  • Government & Public Sector
  • Human Resources
  • Infrastructure
  • IoT
  • Leadership
  • Legal
  • Legislation & Regulation
  • Managed Services & Outsourcing
  • Marketing
  • Mobility
  • Open Source
  • Operations
  • People
  • Podcasts
  • Privacy
  • Security
  • Service
  • SMB
  • Social Networks
  • Software
  • Supply Chain
  • Today's News
  • Top Stories This Week
  • Women in Tech
  • Home
  • Today’s News
  • About
  • Privacy
  • Contact

2022 Tech News Day

No Result
View All Result
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News

2022 Tech News Day

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Why are you leaving?

About Tech News Day

Tech News Day is a daily publication featuring key daily news stories about technology and how it affects businesses. We know that you are busy and that there’s a lot of information coming at you. While there are lots of programs that will curate based on what you have already read or followed, Tech News Day picks the new stories that we feel are most relevant.

Our selection is done by industry professionals – executives like you who pick the top stories for that day. Our writers summarize these to give you a quick summary and the key takeaways. If you want to do a deeper dive and get even more information, we provide a link to at least one of the longer stories from one of our sources (we are often following stories from more than one source).

We also have a daily podcast, published each morning so that you can get the news stories of the day from wherever you get your podcasts.

We hope you find this to be useful to you in keeping up to date in these challenging times. We love your input and opinions. You can use our feedback widget to rate individual stories or you can write us at NewsDesk@technewsday.com.

Click Here

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00