Amazon, eBay Skid on Worries Over Retail Sales

The broad market is getting clobbered this morning in part by the extremely weak Commerce Department report on December retail sales–and investors are demonstrating particular zeal for dumping both Amazon.com (AMZN) and eBay (EBAY).

Commerce reported a 2.7 percent drop in retail sales in December, the sixth consecutive monthly decline. The report showed a 1.9 percent decline in sales at catalog and Internet retailers.

Pacific Crest analyst Steve Weinstein this morning said that Q4 e-commerce sales appear worse than expected. He estimates that sales were up one percent in October, then down more than three percent in November and more than four percent in December. He estimates total online sales in the quarter were down four percent, falling short of his previous forecast for flat growth.

Read the rest of this post


Must-Reads from other Websites

Panos Mourdoukoutas

Why Apple Should Buy China’s Xiaomi

Paul Graham

What I Didn’t Say

Benjamin Bratton

We Need to Talk About TED

Mat Honan

I, Glasshole: My Year With Google Glass

Chris Ware

All Together Now

Corey S. Powell and Laurie Gwen Shapiro

The Sculpture on the Moon

About Voices

Along with original content and posts from across the Dow Jones network, this section of AllThingsD includes Must-Reads From Other Websites — pieces we’ve read, discussions we’ve followed, stuff we like. Six posts from external sites are included here each weekday, but we only run the headlines. We link to the original sites for the rest. These posts are explicitly labeled, so it’s clear that the content comes from other websites, and for clarity’s sake, all outside posts run against a pink background.

We also solicit original full-length posts and accept some unsolicited submissions.

Read more »