Digital River warns of sales slowdown

Shares of e-retailer Digital River got hammered in after-hours trading Tuesday after it said it expects a slowdown in second-quarter sales to continue for the rest of the year. The stock fell $2.58 or 14.5 percent in after-hours trading, to $15.21. Minnetonka-based Digital River, which operates online stores for many software and consumer electronics makers, reported that revenue for the quarter ending June 30 fell 2 percent to $90.8 million.
Author:
Updated:
Original:

Shares of e-retailer Digital River got hammered in after-hours trading Tuesday after it said it expects a slowdown in second-quarter sales to continue for the rest of the year. The stock fell $2.58 or 14.5 percent in after-hours trading, to $15.21. Minnetonka-based Digital River, which operates online stores for many software and consumer electronics makers, reported that revenue for the quarter ending June 30 fell 2 percent to $90.8 million.

Next Up

Northern Metals

Firefighters battling large blaze at Northern Metal site in Minneapolis

The fire sent a plume of thick smoke into the skyline.

Screen Shot 2021-04-21 at 12.10.00 PM

Charges: St. Cloud woman maced, fatally stabbed man in alley

A 36-year-old man was pronounced dead at St. Cloud Hospital 32 minutes after the 911 call was made.

gasthof

Gasthof's building in Northeast Minneapolis is for sale

The restaurant opened in 1992 and has been closed amid the COVID-19 pandemic.

ambulance

1 dead in single-vehicle crash in Kandiyohi County

Deaths on Minnesota roads are up approximately 20% from the same point last year.

Irwin Jacobs home

Neighbor sues to block estate from dividing billionaire's Lake Minnetonka property

The estate of Irwin Jacobs wants to build six new homes on the late businessman's property.

culver's

In the better burger battle, does Culver's trump In-N-Out?

A website says Culver's is far superior to In-N-Out.

George Floyd mural

Darnella Frazier, who filmed the video of Floyd's arrest, reacts to guilty verdict

Frazier's video challenged the initial narrative of Floyd's arrest presented by the Minneapolis Police Department.

Burnsville police shooting

Man fatally shot by police near I-35W in Burnsville is identified

The suspect killed in the incident is from western Wisconsin.

covid, vaccine

Mayo Clinic opens vaccine appointments to non-patients

After a rush for appointments, other vaccine providers are also reporting more open appointments.

Related

Pawlenty joins board of another company: Digital River

Our former governor just joined two other company boards in October, and now he's joining a third. Digital River's CEO said Pawlenty brings business development and finance experience, and an international perspective. Twin Cities Business rates Digital River the state's largest Web development company based on revenue.

Land O'Lakes earnings down 29%, but sales up

Dairy cooperative Land O'Lakes said its second-quarter earnings fell 29 percent, due to softness in its flagship dairy foods business, though sales continued to grow.

Toro sees record sales

Is everyone out buying a snowblower right now? The Business Journal says Toro smashed the Street's expectations with record sales. The company's profits are up 55 percent for the fourth quarter.

Midwest factories grinding through slowdown

Two anticipated manufacturing reports seem to have conflicting things to say about October productivity: one shows U.S. factory output increasing and the other shows a slowdown across the Midwest, including Minnesota, the Star Tribune reports.

Popeye's Chicken selects Campbell-Mithun as digital partner

The assignment includes Web site redesign and digital support of promotions, social media, mobile marketing and search engine marketing. The first work from the Minneapolis-agency will be a Mood Wing app, a play on “mood ring.”

Minneapolis will use digital billboards to warn drivers of snow emergencies

Here's another tool to help you Minneapolis residents dodge the tow trucks on snow emergency days. The city says it will broadcast the news on digital billboards this year.

Imation to cut 20 percent of its workforce after double-digit declines in 3Q

Imation Corp. says it will layoff about one-fifth of its workforce or roughly 200 workers worldwide by next year after poor third-quarter numbers, including a nearly 20 percent drop in revenue compared to the previous year, the Star Tribune reports. There is no word on how many employees in the Twin Cites will be affected. The Oakdale-based maker of optical discs, magnetic tape and flash drives wants to reduce operating expenses by about 25 percent.