Lightspeed posts wider $100.8-million loss in first quarter: What you need to know
Asha Bakshani, Lightspeed’s chief financial officer, said that interest rates and inflation were indeed having an impact, but were affecting the retail side of the business more than the hospitality side. Consumers are prioritizing spending in “areas such as travel and entertainment,” she said,than goods. Hospitality, conversely, is doing well. “Hospitality gross transaction value grew 40 per cent in the quarter organically,” she said.
Lightspeed remains focused on building its business even though its share price has fallen 73 per cent this year. The company recentlya renovation of its Montreal headquarters to make it more “homey” to encourage employees to return to the office of their own free will. “If you want people to want to come back — and we don’t want to force anyone to come back — you need to make it exceptional,” said Chauvet.
The company is also working to attract top talent by implementing a People Experience policy, which offers workers unlimited paid leave.
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