EBay Falls After Sales Growth Slump in FebruaryLisa Rapaport
EBay Inc., operator of the world’s largest online marketplace, fell the most in five months after ChannelAdvisor Corp. said February sales grew at the slowest pace since April 2011 as consumers bought fewer car parts.
The shares decreased less than 1 percent to $52.40 at 10:17 a.m. in New York, and earlier touched $50.90 for the biggest decline since Oct. 9. Through yesterday, the stock had advanced 3.5 percent this year, compared with a 9.1 percent gain for the Standard & Poor’s 500 Index.
So-called same store sales grew 8.2 percent at EBay in February from a year earlier, ChannelAdvisor said in a statement today. After accounting for an extra sales day from the leap year in 2012, revenue growth was 12 percent. Auto parts and accessories sales climbed 6.8 percent, “the slowest measurement we’ve seen since breaking out EBay details,” ChannelAdvisor said, citing a spate of winter storms that caused consumers to postpone work on their cars.
After accounting for the leap year, Amazon.com Inc. posted a 35 percent gain in same store sales, about 1 percentage point higher than the growth the world’s biggest online retailer posted in January, ChannelAdvisor said.
“February saw a few speed bumps for e-commerce between the tough leap-year comparison, macro consumer confidence concerns and a plethora of winter storms,” ChannelAdvisor said in the statement. “Given that backdrop, Amazon came in particularly strong.”