Seeking Alpha

ChannelAdvisor releases July client same-store data

  • ChannelAdvisor (ECOM) clients saw a 24.9% Y/Y increase in Amazon (AMZN) same-store sales, down from 30.6% in June and representing the lowest growth rate recorded over the last 12 months (though still above total e-commerce growth). Merchants have been upset over recent fee hikes.
  • On the other hand, EBAY same-store sales growth rose to 20.4% from 17.7% in June and 16% in May. Auctions -23.3% vs. June's -17.2%, but fixed-price (now a majority of sales) +20.3% vs. +18.9% and Motors +26.6% vs. +27.8%. ChannelAdvisor thinks eBay's new search engine (Cassini) is helping out. Are recent fee changes also helping?
  • Google's (GOOG) numbers were a mixed bag. Same-store sales tied to search ads grew only 0.6% Y/Y, down from June's 5.1%. But comparison shopping (inc. Google Shopping) rose 12.9% vs. June's 10%.
  • Also, ChannelAdvisor predicts search ad prices (CPCs) will rise thanks to the launch of Enhanced Campaigns, as "advertisers are no longer able to bid lower for the lower converting mobile ads."
  • ChannelAdvisor shares rose another 7.5% today, and are now up 52% since the company posted a Q2 beat last Wednesday (previous).
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Comments (1)
  • Technology Equity Strategies
    , contributor
    Comments (2272) | Send Message
     
    What a shock. Yet another sequential decline. Must be time to buy more based on someone's propietary model of sentiment or bizzarre theory of technicals.

     

    In all seriousness, everything seems to be lining up now. Technical weakness, deteriorating revenue growth, accelerating operating losses, analyst downgrade fatigue, management distraction with new ventures, increasing competition in tablets.

     

    Lets see how this shakes out. Short side looking pretty damn compelling again.
    13 Aug 2013, 11:00 PM Reply Like
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