eBay Ramps on ChannelAdvisor Sales Report
NEW YORK (TheStreet) -- eBay (EBAY) shares spiked higher in late afternoon trades on Monday following a report from ChannelAdvisor highlighting a record July for the Internet auction giant.
ChannelAdvisor, which eBay holds a stake in, estimated eBay's same-store-sales rose 28.2% in July, thanks in part to growth in the company's fixed pricing segment, which experienced a 33.1% increase year-over-year.
"This was a record showing for the FP format. We're seeing name brand larger retailers do very well on eBay and eBay's daily deal program continues to drive significant revenue for top-tier sellers," ChannelAdvisor's report said.
Also performing well was eBay Motors, which saw an increase of 36% during the same time period. Conversely, eBay auctions declined 1.1% year-over-year. That's the best performance in a "long time," ChannelAdvisors noted.
Amazon (AMZN) had 44% year-over-year growth in June, outpacing the e-commerce industry as a whole, the report said. Shares of eBay jumped 3% to $45.31 in recent trades on the back of the report. Interested in more on eBay? See TheStreet Ratings' report card for this stock. Follow TheStreet Tech on your wireless devices. --Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_BullSelect the service that is right for you!
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