Goldman Still Likes eBay, 1-800-Flowers.com
Goldman Sachs says its survey reinforces its view for continued slowdown in consumer e-commerce. Goldman adds it remains selective within the group with eBay (EBAY ) and 1-800-Flowers.com (FLWS ) on its recommended list.
Analyst Anthony Noto says the Goldman survey shows consumers are not shifting spending online at a faster rate this year than last. He also notes the survey reinforces his outlook for a continued slowdown in e-commerce sales. He adds online sales will mirror that of slowdown in overall consumer spending.
Noto recommends his picks due to diversification of revenue sources, clear leadership, pricing power, and operating leverage, which enable them to drive both top and bottom line growth in this environment.