Criteo Inks Partnership With Belk to Launch Belk Media Network

Core Insights - Criteo has partnered with Belk to launch the Belk Media Network, aimed at enhancing brand visibility and sales through effective customer targeting using first-party data [1] - The Retail Media industry is projected to grow to $231 billion by 2030, presenting significant opportunities for Criteo and the Belk Media Network [2] Company Developments - Criteo's Commerce Yield platform will allow brands to optimize monetization through access to inventory and datasets for real-time sponsored ad campaigns [3] - The company has expanded its platform adoption to 2,900 brands and 225 retailers, reaching over 700 million active users daily, competing with major players like Amazon, Meta Platforms, and Alphabet [4] - A recent two-year agreement with Selfridges aims to enhance customer engagement by connecting them with exclusive brands [5] Data and Market Position - Criteo's data assets provide insights into over $1 trillion in online sales for 2023, accounting for approximately 35% of global retail e-commerce sales, excluding China [6] - The partnership with Swiggy in India focuses on driving offsite media campaigns to connect high-intent customers through OTT platforms [6] Financial Guidance - For Q3 2024, Criteo expects Contribution ex-TAC to be between $264 million and $268 million, reflecting a year-over-year growth of 8% to 10% at constant currency, with adjusted EBITDA projected between $72 million and $76 million [7] - For the full year 2024, the company anticipates Contribution ex-TAC growth of 10% to 12% at constant currency, with an adjusted EBITDA margin of approximately 32% of Contribution ex-TAC [7]