SAN FRANCISCO - Salesforce (NYSE: NYSE:CRM), a leader in AI customer relationship management with a market capitalization of $312.84 billion and impressive gross profit margins of 76.94%, announced the release of new AI-powered tools aimed at transforming the retail sector. According to InvestingPro analysis, the company maintains a perfect Piotroski Score of 9, indicating strong financial health. The Agentforce for Retail and Retail Cloud with Modern POS are designed to increase productivity and personalize shopping experiences by leveraging artificial intelligence.
Agentforce for Retail introduces a suite of pre-built skills for retail employees that automate complex tasks such as order management, guided shopping, appointment scheduling, and loyalty promotion creation. These skills aim to enhance productivity by handling customer queries, managing inventory, and coordinating with shipping providers autonomously, thus reducing the need for human intervention.
Retail Cloud with Modern POS, on the other hand, is a cloud-based point-of-sale system that integrates online and offline shopping data on a single platform. This innovation provides retail associates with tools for clienteling, inventory management, and omnichannel fulfillment, among others, to offer a more efficient and personalized service to shoppers.
The introduction of these tools is significant for the retail industry, as a Salesforce study indicates that inefficient processes and technology are a major drain on associate productivity. With revenue growth of 9.53% in the last twelve months, Salesforce continues to expand its market presence. By consolidating multiple systems into a single view, Salesforce's solutions aim to streamline operations and improve customer interactions. InvestingPro subscribers can access 12 additional key insights about Salesforce's growth trajectory and market position.
SharkNinja and Saks are among the companies utilizing Salesforce's new offerings to enhance employee and associate productivity and create more impactful shopper interactions. SharkNinja's CIO, Velia Carboni, expressed that Agentforce would allow their team to concentrate on innovation by automating routine shopper inquiries and enabling self-service.
The new commerce skills for guided shopping and order management are set to become generally available in March 2025, with field service skills for appointment scheduling and marketing skills for loyalty promotion creation available in February 2025. Retail Cloud with Modern POS is expected to launch in April 2025.
Salesforce's initiative reflects its commitment to reimagining business operations in the age of AI, providing organizations with the tools to combine human and digital labor effectively. The information is based on a press release statement from Salesforce.
In other recent news, Salesforce has been the recipient of both praise and skepticism from analysts. Needham analysts have shown a strong conviction in Salesforce, increasing the price target to $400 from $375 and maintaining a Buy rating. They highlighted Salesforce's new Agentforce strategy and its potential to significantly boost activity in the second half of the year. On the other hand, Guggenheim analysts downgraded Salesforce from Neutral to Sell, citing concerns about the company's growth prospects.
Meanwhile, Meritage (NYSE:MTH) Homes Corporation has expanded its board with the appointment of Geisha Williams, the former CEO of PG&E Corporation. This move underscores the company's commitment to diversity and refreshment.
In terms of financial performance, Salesforce demonstrated impressive gross profit margins of 76.94% and annual revenue of $37.19 billion. The company also reported a 4% increase in U.S. online holiday sales, reaching $282 billion. Despite a surge in merchandise returns, analysts from Piper Sandler and Wedbush Securities remain positive about Salesforce's ability to leverage AI trends for growth.
These are recent developments, highlighting both companies' ongoing efforts to improve and innovate.
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