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Stock Market & Financial Investment News

News Breaks
March 12, 2013
10:03 EDTEBAYeBay falls after firm says sales growth slowed last month
eBay's (EBAY) shares are dropping after research firm ChannelAdvisor reported that the company's same-store sales increased 8.2% in February. The same-store sales gain was the company's lowest monthly increase since April 2011, the firm noted. However, excluding the effects of last year's extra day in February due to Leap Year, eBay's same-store sales rose 12.2% last month. But the company's sales growth in February still slowed compared with December 2012 and January 2013, when same-store sales jumped 18.8%-22%. Last month's slowdown was driven largely by decelerations in eBay’s motor parts and accessories business and soft growth in its fixed price business, the firm reported. The slowdown in the motor business, which grew at the slowest rate since ChannelAdvisor began tracking the company's data, may be weather-related, the firm stated. The fixed price slowdown may have been caused by macro economic factors, ChannelAdvisor believes. In early trading, eBay declined 65c, or 1%, to $52.10.
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