Overview
- Shares fell roughly 16%–20% after the earnings shortfall and leadership change.
- Enrique Lores becomes CEO on March 1, with CFO Jamie Miller serving as interim chief and David W. Dorman named independent chair.
- Fourth‑quarter revenue of $8.68 billion and adjusted EPS of $1.23 missed forecasts, and the company now guides 2026 adjusted profit to range from a low‑single‑digit decline to a slight increase.
- Growth in the higher‑margin branded online checkout slowed to 1% year over year, with management pointing to softer U.S. retail spending, international headwinds, and competitive pressures.
- Executives said prior multi‑year targets are off the table in favor of annual guidance and emphasized renewed focus on checkout execution alongside continued large share repurchases and strong free cash flow.