The Australia and New Zealand Banking Group Ltd (ASX: ANZ) share price is up 0.6% in early morning trade today, at $27.67 per share.

Despite that gain, the big bank’s shares remain down 1.6% since we commenced the second quarter of the 2022 financial year (Q2 FY22) last Friday.

With the first quarter of FY22 now come and gone, we take a look at how the ANZ share price moved over those 3 months.

What happened with the ANZ share price in Q1 FY22?

The ANZ share price kicked off Q1 FY22 by closing at $28.15 on 30 June.

Three months later, by the closing bell on 30 September, shares were worth $28.15.

I’ll let you do the maths there.

The big bank finishing the quarter flat was largely in line with the broader S&P/ASX 200 Index (ASX: XJO), which notched a slender 0.3% gain over the 3 months.

It wasn’t all smooth sailing for shareholders.

The ANZ share price hit a closing high of $29.53 on 13 August and a closing low of $27.09 on 22 September. That’s more than an 8% price swing.

What were investors considering over the quarter?

There were a number of factors impacting the ANZ share price over Q1 FY22.

Tailwinds leading up to the 13 August high included improved investor sentiment across the wider banking sector, spurred by some $10 billion in dividends and share buybacks by Commonwealth Bank of Australia (ASX: CBA).

Another positive looks to have been ANZ’s appointment of Farhan Faruqui as its new Chief Financial Officer (CFO).

As the Motley Fool noted at the time, “ANZ’s management highlighted Mr Faruqui’s accomplishments and experience, painting a positive outlook for the bank’s future.”.

On the flip side, general market weakness over the quarter certainly didn’t help the bank’s performance.

There was also a bearish broker note out just before ANZ’s share price hit its 21 September closing low, along with concern about the bank’s mortgage book.

As the Motley Fool noted on 21 September, broker Citi released a note with a sell rating on ANZ and a price target of $28 per share.

My Fool colleague Nikhil reported in his article that, “According to analysts, recent APRA data indicates a sharp contraction in ANZ’s mortgage book. … According to the commentary, moderation in volume and housing growth could slow near-term growth prospects for the big banks.”

The post What happened for the ANZ share price in the FY22 first quarter? appeared first on The Motley Fool Australia.

More reading

• ASX 200 bank shares fall flat amid flurry of new regulations
• Why the ANZ (ASX:ANZ) share price has lagged the ASX 200
• 5 things to watch on the ASX 200 on Monday
• How does the Westpac (ASX:WBC) dividend compare to the banking sector?
• Top brokers name 3 ASX shares to sell next week

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Collins Foods Ltd (ASX: CKF) share price is lifting during morning trade on Thursday. This comes after the KFC restaurant operator provided investors with a positive update in regards to a corporate franchise agreement.

At the time of writing, Collins Foods shares are up 5.59% to $12.65.

Collins Foods expands KFC network

According to today’s statement, Collins Foods’ Netherlands business has signed an agreement with KFC Europe, a division of Yum! Brands Inc.

Under the corporate franchise agreement, Collins Foods will become KFC’s corporate franchisee in the Netherlands. This means Collins Foods has the rights to develop, manage, market, support, and operate the KFC business in the country.

The agreement provides a framework for the development of up to 130 new KFC restaurants over a 10-year period. These stores will be a mix of independent franchisees and company-owned restaurants.

The corporate franchise agreement will supersede the current Netherlands development agreement that is currently in place.

In the new deal, Collins Foods will receive a fee from KFC towards the costs of running the market. Extra incentives have also been added by KFC Europe through meeting various objectives relating to development and other performance measures.

The agreement will run over a 5-year period and come into effect on 31 December 2021, pending approval of conditions.

Managing director and CEO Drew O’Malley commented on the deal possibly driving the Collins Foods share price:

Today’s announcement marks a true milestone in the progression of Collins Foods’ strategy in Europe. The corporate franchise agreement in the Netherlands is an exciting opportunity that allows us to more fully leverage our scale, experience, and operational capabilities in Europe for the benefit of both the company and the KFC brand.

We believe there is substantial opportunity for restaurant growth in the Netherlands, given KFC’s low penetration rate relative to developed markets and other Quick Service Restaurant brands. Further, our current management team for Europe has an excellent track record in the QSR sector and with KFC, and this is a natural extension for them and our business.

About the Collins Foods share price

Over the past 12 months, the Collins Foods share price has travelled higher to post an almost 20% gain for the period. In 2021 its shares are up around 30%.

Collins Foods presides a market capitalisation of roughly $1.45 billion, with approximately 116.7 million shares on issue.

The post Why is the Collins Foods (ASX:CKF) share price climbing 5% today? appeared first on The Motley Fool Australia.

More reading

• 2 growing ASX dividend shares to buy
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• Why the Collins Foods (ASX:CKF) share price is surging higher today

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Collins Foods Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Pilbara Minerals Ltd (ASX: PLS) share price is up by 2.14% to $1.91 in early trading on Thursday.

This follows a positive announcement from the company that commissioning has begun at its Ngungaju plant.

What did Pilbara Minerals announce?

The Pilbara Minerals share price is on the move following news that commissioning is now underway at the company’s Ngungaju Plant. This heralds the start of a staged ramp-up of this facility from care and maintenance.

Pilbara Minerals announced the acquisition of the Altura Mining Limited (ASX: AJM) project in October last year for $175 million. The company then renamed the project Ngungaju.

The transaction occurred when lithium prices were at multi-year lows, resulting in Altura falling into administration.

In late June, the company announced its final investment decision to restart Ngungaju operations.

Since then, the company has successfully completed its construction and maintenance acceleration program to bring forward additional production to capitalise on the lithium boom.

Commissioning of the coarse production circuit is now underway. Pilbara Minerals expects production to increase to approximately 180,000 to 200,000 dry metric tonnes (dmt) from mid-2022 onward.

It is understood that additional production from Ngungaju will allow for sales in the emerging spot market for spodumene concentrate.

This will include sales made through the company’s own recently launched Battery Materials Exchange digital sales platform.

In addition, Pilbara Minerals also reaffirmed its FY22 production guidance across the entire Pilgangoora Project at 460,000 to 510,000 dmt.

Management commentary

Pilbara Minerals’ CEO Ken Brinsden said the commencement of commissioning as part of the staged ramp-up at Ngungaju represents “another significant and exciting milestone in the rapid growth of the Pilgangoora Project”.

Brinsden said:

“Together with the improvement works being made to the Pilgan Plant (which are expected to soon increase production capacity from ~330ktpa to 360-380ktpa), Pilbara Minerals is firmly on track to achieve its goal of increasing annual spodumene concentrate production to 560-580,000tpa by the middle of next year.”

“With market conditions remaining extremely buoyant and the spodumene concentrate market continuing to show signs of being extremely short of supply, the Ngungaju Plant is expected to be capable of delivering uncommitted tonnes into the emerging spot market including through our BMX platform.

Pilbara Minerals share price snapshot

The Pilbara Minerals share price has lost steam in recent months, down almost 25% since mid-September.

It is currently lingering around 2-month lows, broadly in line with the S&P/ASX 200 Index (ASX: XJO).

The post Pilbara Minerals (ASX:PLS) share price higher on lithium project update appeared first on The Motley Fool Australia.

More reading

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• Why is the Pilbara Minerals (ASX:PLS) share price down 10% in a week?

Motley Fool contributor Kerry Sun has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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This week hasn’t been good to the Webjet Limited (ASX: WEB) share price.

The online travel agent’s stock roared higher on Monday, hitting a new 52-week high. Unfortunately, it has since tumbled.

The dip has come about despite renewed enthusiasm surrounding Australia’s return to travel and the nation’s vaccine rollout surpassing a key milestone.

At the time of writing, the Webjet share price is $6.28, 1.29% higher than its previous close but 3.08% lower than it was at Friday’s close. Additionally, it is currently 29% lower than its shiny new 52-week high of $8.89.

Let’s take a closer look at what’s been happening with the Webjet share price and Australia’s travel industry this week.

A bad week for Webjet but a good one for travel

The Webjet share price has been tumbling lower on a week full of good news for Australians in need of a holiday.

On Friday, Prime Minister Scott Morrison announced Australia’s international borders are set to reopen next month in line with some states allowing home quarantine.

When the order is officially given, Australians who are vaccinated against COVID-19 will be allowed to fly in and out of the country freely and quarantine for 7 days in their home on their return.

The number of unvaccinated travellers landing in Australia will continue to be capped. Those who don’t have both jabs on arrival will face 14-day of “managed” quarantine.

The Webjet share price surged 2.6% higher on Friday and was boosted by another 2.9% on Monday.

Only states that have a home quarantine system available will see international travel return.

On that note, ABC News has reported the Queensland Government is planning to begin a home quarantine trial.

According to the outlet, up to 1000 Queenslanders currently stuck in interstate hotspots will soon be allowed to return home. And at home, they will stay for the 14 days following their arrival.

Finally, several key vaccine targets have been met over the last 24 hours. 80.5% of Australians have now received one dose of a COVID-19 vaccine, while 58.4% are fully vaccinated.

Additionally, New South Wales’ brand new premier, Dom Perrottet, announced the state reached its 70% vaccination rate yesterday. Restrictions will ease in NSW on Monday and travel within the state will properly resume when it meets its 80% vaccination target.

Webjet share price snapshot

Despite all the good news, the Webjet share price has spent the last 2 sessions in the red. Though, it’s still recording strong long-term gains.

Right now, the company’s share price is 20% higher than it was at the start of 2021. It has also gained 47% since this time last year.

The post It hasn’t been a great week so far for the Webjet (ASX:WEB) share price appeared first on The Motley Fool Australia.

More reading

• These are the 10 most shorted ASX shares
• Why ASX 200 travel shares are having a bumper day
• Up 5%, the Webjet (ASX:WEB) share price is back to March 2020 levels. Here’s why
• Here’s why the Webjet (ASX:WEB) share price gained 29% last quarter
• Why the Webjet (ASX:WEB) share price is on the rise today

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Webjet Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Qube Holdings Ltd (ASX: QUB) share price is in the red after the Australian Consumer and Competition Commission (ACCC) announced it is investigating the company’s latest acquisition.

According to the watchdog, it previously requested Qube delay its recent acquisition of the Newcastle Agri Terminal while it investigated its potential competitive impact. However, Qube went ahead and finalised the purchase late last month.

Now, the ACCC has now begun a law enforcement investigation into the potential impacts of the acquisition.

At the time of writing, the Qube share price is $3.27, 0.61% lower than its previous closing price.

Let’s take a closer look at the drama that has unfolded today.

Quick refresher

Qube is an import and export logistics services provider.

It owns and operates grain storage sites in New South Wales’ Orana Region and supplies rail haulage in the state. Qube also owns and operates the Quattro bulk grain terminal in Port Kembla.

On top of its other New South Wales-based grain operations, the company recently acquired the Newcastle Agri Terminal for $90 million. The Newcastle Agri Terminal is a grain export hub.

The Qube share price gained 4.5% when the company announced the acquisition. The purchase was completed on 30 September despite the ACCC calling for it to be delayed.

The news driving the Qube share price today

Today, the Qube share price is falling as the ACCC embarks on an enforcement investigation into the company’s latest acquisition.

According to the competition watchdog, numerous industry participants approached it with concerns about the impact of Qube’s acquisition.

The ACCC has now begun an investigation into Qube’s new vertically integrated position in the supply chain of bulk grain.

The body will be looking into Qube’s potential to engage in anti-competitive behaviour, such as bundling storage, handling, and transport with terminal services. It’s also concerned about Qube’s ability to discriminate against its rivals.

If the acquisition is found to be anti-competitive, the ACCC could order Qube to divest the Newcastle Agri Terminal or declare the transaction void. The watchdog could also seek penalties for the unapproved acquisition.

ACCC’s chair Rod Sims commented on the news driving the Qube share price today, saying:

It is worrying when a major vertically integrated player pays $90 million for key infrastructure used for the export of agricultural products without first obtaining the ACCC’s view on whether the proposed acquisition is likely to have the effect of substantially lessening competition.

The post Qube (ASX:QUB) share price falls amid ACCC enforcement investigation appeared first on The Motley Fool Australia.

More reading

• These 5 ASX 200 shares are going ex-dividend this week
• The Qube (ASX:QUB) share price is on a rollercoaster this week
• Why Aeris Resources, Macquarie, Novonix, & Qube shares are pushing higher

Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Calix Ltd (ASX: CXL) share price is charging notably higher on Thursday morning.

At the time of writing, the clean technology company’s shares are up 10% to $5.24.

This means the Calix share price is now up over 400% since the start of the year.

Why is the Calix share price charging higher today?

Investors have been bidding the Calix share price higher today following the release of a positive announcement.

According to the release, Calix and its LEILAC (Low Emissions Intensity Lime And Cement) project consortium have released their final output report.

The LEILAC project is developing a new technology, aiming to enable the cement and lime industries to capture unavoidable CO2 emissions released from the raw limestone.

What’s the latest?

According to the release, the report includes a techno-economic study and a variety of scenarios investigating the costs associated with the technology. This includes different energy sources, such as renewable electricity, and synergies with other capture technologies, based on the validated results of LEILAC-1 Pilot and LEILAC-2 pre-FEED engineering.

The company notes that several development and scale-up steps are required to fit a complete LEILAC system to a cement plant.

However, it highlights that, in theory, as there is minimal energy requirements and relatively small capex, a full scale fully developed LEILAC facility capture costs are expected to be in the range of around 14 to 24 euros per tonne of CO2 avoided. This is the lowest reported of any technology and still has scope for further reduction in cost.

Based on this, it is estimated that future, fully developed and full scale retrofit LEILAC installations using waste fuel could achieve full chain CCS abatement costs (capture, transport, storage, including CAPEX costs) of around 39 euros per tonne of CO2 avoided. Around half of these costs relate to transporting and storing the CO2, and nearly a quarter to the capital and operating costs associated with CO2 compression.

In summary, the company believes the LEILAC technology (both alone and alongside other decarbonisation methods) can enable net zero production of lime and cement at a low cost.

Judging by the Calix share price performance today and in 2021, investors appear excited that this technology could be a game changer in the cement industry.

The post Why the Calix (ASX:CXL) share price is shooting 10% higher today appeared first on The Motley Fool Australia.

More reading

• Leading broker tips Calix (ASX:CXL) share price to rise 57%
• Why Accent, Calix, Pilbara Minerals, & Starpharma shares are racing higher
• Why the Calix (ASX:CXL) share price is surging 20% to a new all-time high
• Here are the 3 hottest ASX shares to buy right now: expert

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Flight Centre Travel Group Ltd (ASX: FLT) share price soared to an 18-month high in September. The travel agent has been busy targeting a return to leisure and corporate profitability as conditions improve.

This has led Flight Centre shares to track 30% higher over the past month. On the other hand, the S&P/ASX 200 Index (ASX: XJO) has slumped by more than 4%.

International travel resumes

Flight Centre advised in its mid-September presentation that sales revenue increased month-on-month during FY21. In particular, leisure and corporate recovery in the United States during Q4 FY21 ticked up a notch.

The company noted that corporate transaction numbers were at 50% of pre-COVID levels, representing around 40% of the total transaction value.

In addition, vaccination programs have gained momentum, with travel restrictions being either relaxed or removed in key travel markets. As such, immediate and strong rebounds are being experienced.

Fully vaccinated passengers are being offered more freedoms for trans-Atlantic travel and to other international destinations. For example, United States travellers can fly to the United Kingdom, and Fiji is opening its borders to vaccinated passengers from November.

Flight Centre said more countries are accepting they have to live with the virus, with various international routes restarting.

What about Australia?

Australia’s accelerated vaccination program is on track, with selected international travel set to resume as early as next month. Some 80.5% of over 16s have received their first dose, with 58.4% having had a second dose. It is estimated Australia will reach the magic 80% for the double jab on 6 November.

Flight Centre is preparing for a strong comeback as a more agile business while airlines begin to restore services.

Quarantine-free travel to countries with high vaccination rates could also be on the cards. This includes nations such as the United Kingdom, United States, Fiji, Japan, Singapore, and possibly others.

In Australia, home quarantine is being trialled in some states with early success so far. Flight Centre sees this as a major step forward as it removed customer fears of being forced into expensive hotel quarantine.

Flight Centre share price summary

It’s been a solid year for the Flight Centre share price. Since its September gains it’s continued to fly, reaching another new 18-month high of $25.28 on Tuesday.

In 2021 alone, its shares have risen by around 45%, reflecting positive sentiment in a quick recovery of the travel sector. In early trade today they are up 2.37% to $23.35.

Flight Centre has a market capitalisation of roughly $4.55 billion, with close to 200 million shares on its registry.

The post Why did the Flight Centre (ASX:FLT) share price have such a great month in September? appeared first on The Motley Fool Australia.

More reading

• Top broker upgrades the Super Retail (ASX:SUL) share price to buy
• Why A2 Milk, CBA, Flight Centre, & Magellan’s shares are sinking
• Which ASX shares are leading the way in the ASX 300 today?
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• Which ASX 300 shares are on the move for the start of the week?

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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Ethereum (CRYPTO: ETH) struggled to hold onto any of its short-term price gains in September.

Ether is the world’s number 2 crypto in terms of total value. It’s current market cap of US$421 million is surpassed only by Bitcoin‘s (CRYPTO: BTC) US$1.04 trillion total market valuation.

With the price gains so far in October, Ethereum now represents 18.3% of the total cryptocurrency sphere, according to data from CoinMarketCap.

But then the first 8 days of October have been good for Ether investors, with the price up 20% so far this month.

September was a different story.

What happened with the Ethereum price is September?

Ethereum started last month trading for US$3,420. By the end of September, it was worth US$2,960, down some 13%. That compares to a 10% fall in the Bitcoin price over that same time.

While it wasn’t a particularly volatile month as far as crypto price moves go, Ether investors would have experienced plenty of ups and downs.

By 3 September the price had climbed to US$3,962. But those gains wouldn’t last.

Ethereum reached monthly lows on 22 September, trading for US$2,703. That’s 32% below its 3 September price. Certainly no investment for the faint hearted.

How is Ether different from Bitcoin?

There are a number of significant differences between Ethereum and Bitcoin.

Bitcoin is largely seen and used as an alternative to government issued money. As a digital token that may be resistant to inflationary forces. You can increasingly use it to purchase items. And many crypto investors choose to hold onto Bitcoin in hopes the value will continue to march higher over time.

Ethereum, on the other hand, has more real-world applications. Via its own crypto – that’s Ether – it serves as a platform for other cryptocurrencies and importantly can be used to execute decentralised contracts.

As CoinMarketCap explains, “Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.”

Ether is up 2% over the past 24 hours, currently trading for US$3,590.

The post Here’s what happened to the Ethereum price in September appeared first on The Motley Fool Australia.

More reading

• How these top 3 cryptos performed in the first quarter of FY22
• Why the Ethereum (CRYPTO:ETH) price is trouncing Bitcoin’s gains
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• AMP Capital’s chief economist on the future of Bitcoin and altcoins

The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Bitcoin and Ethereum. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Super Retail Group Ltd (ASX: SUL) share price jumped higher this morning after it got upgraded by a leading broker.

The ASX retailer rallied 4.8% to $12.04 when the S&P/ASX 200 Index (Index:^AXJO) added 0.7% at the time of writing.

Other retailers are also trading in the green. The Harvey Norman Holdings Limited (ASX: HVN) share price gained 1% and Flight Centre Travel Group Ltd (ASX: FLT) share price added 2.1%.

Super Retail share price zooms on broker “buy” upgrade

The Super Retail share price is getting an extra boost from a bullish report by UBS. The broker thinks this is the time to pick up Super Retail shares as it upgraded the auto and outdoor retail group to “buy” from “neutral”.

UBS pointed to several tailwinds to justify the upgrade. Firstly, a survey by UBS found that consumes have record spending intentions. That’s great news for retailers as we head into the all-important Christmas shopping period.

Tailwinds from stronger economy and jobs

Secondly, UBS economists are feeling even more confident about the labour market. Most of Australia is still in lockdown and there are already many industries complaining of the lack of workers. What will happen as NSW and Victoria emerges from COVID-19 restrictions?

Then there is the $120 billion in “hidden” stimulus. This is the amount Australian households have saved due to the lack of spending options and government support payments.

Speaking of which, government payments are expected to continue, although this will change from support to stimulus payments, added UBS.

Super Retail share price invited to the COVID reopening party

Finally, there’s greater confidence that Australia will reopen for business. The rate of vaccinations and comments by the NSW and Victorian governments on following the national roadmap should give us hope.

These positives will benefit many ASX retail shares, but the Super Retail share price may be better placed to benefit than most.

Super Retail share price in sweet spot

“COVID-19 restrictions have seen a shift in consumer spend to retail vs experiences (e.g. travel, eating out),” said UBS.

“With an end to lockdown and COVID-19 restrictions expected to see this reverse. The prospect of strength in retail & travel is contrary to recent discretionary retail share price underperformance and P/E multiple de-rating compared to reopening exposures.”

The Super Retail share price is one of the underperformers. Its shares have fallen by around 11% since it posted its full year results in August.

This meant that the retailer’s FY22 price-earnings (P/E) multiple has derated to about 13 times from 15.6 times.

Re-rating opportunity

“Yet SUL enjoys reopening leverage with the consumer expected to return to recreation activities (BCF and Macpac), sporting activities (Rebel) and driving holidays (SCA),” added UBS.

“Given its strong FY21 inventory position, a key advantage given global supply chain issues, and track record of EBIT margin expansion with strong sales (gross margin expansion due to availability issues, operating leverage), we expect SUL to enjoy a strong recovery post lockdown.”

The broker’s 12-month price target on the Super Retail share price is $13.50 a share.

The post Top broker upgrades the Super Retail (ASX:SUL) share price to buy appeared first on The Motley Fool Australia.

More reading

• Here’s what ASX futures are pointing towards on Thursday
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• 5 things to watch on the ASX 200 on Thursday
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• Here are the 3 most heavily traded ASX 200 shares this Wednesday

Motley Fool contributor Brendon Lau has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Super Retail Group Limited. The Motley Fool Australia owns shares of and has recommended Harvey Norman Holdings Ltd. and Super Retail Group Limited. The Motley Fool Australia has recommended Flight Centre Travel Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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The Sezzle Inc (ASX: SZL) share price is among the best performer on the All Ordinaries on Thursday morning.

At the time of writing, the buy now pay later (BNPL) provider’s shares are up 9% to $5.37.

Why is the Sezzle share price storming higher?

The catalyst for the rise in the Sezzle share price today was news that its service is now live with a major US retailer.

Overnight US giant Target announced the official launch of its buy now pay later offering with Sezzle and Affirm (NASDAQ: AFRM) ahead of the busy holiday season.

Target’s President of Financial and Retail Services, Gemma Kubat, commented: “With the help of two new partners — Sezzle and Affirm — we’ve added new payment solutions that let you buy what you need now, take advantage of our best deals, and pay at a pace that works well for you.”

“We know our guests want easy and affordable payment options that work within their family’s budget. Through our partnerships with Affirm and Sezzle, Target is investing in new financial tools that make our shopping experiences more flexible and personalized to guests’ needs, right in time for the holiday season.”

What impact could this have?

The deal with Target has the potential to boost Sezzle’s sales materially in the coming years.

The company notes that there are 1,909 Target stores across the US, with 75% of Americans living within 16km of one.

From its store network and online business, Target generated revenue of US$93.5 billion in 2020.

Anything else?

Also potentially giving the Sezzle share price a boost was an update on its Canadian operations.

Sezzle has advised that it has now reached the major milestone of 3,000 Canadian merchants and over 10,000 cross-border merchants. This comes after two years operating in the country.

Recent additions to its growing roster of retailers include Bentley, Stokes, Hart, FortNine, Umbra, Fairweather, JD Sports, size?, and EMERGE Commerce.

The post Why the Sezzle (ASX:SZL) share price is storming 9% higher on Thursday appeared first on The Motley Fool Australia.

More reading

• ASX 200 tech shares set to slide as Nasdaq plunges 2%
• These were the best performing ASX BNPL shares in September
• The Sezzle (ASX:SZL) share price tumbled 13% in September. Is it a buy?
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• The Sezzle (ASX:SZL) share price is falling 3% today

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Affirm Holdings, Inc. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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