EBay shares gain on strong July sales data
August 13th, 2012 by admin

(Reuters) – EBay Inc shares rose 3 percent on Monday, closing in on a multi-year high after data showed the world’s largest online marketplace had a strong sales month in July.

ChannelAdvisor, which helps merchants sell via eBay, Amazon.com and other websites, reported that client same-store sales on eBay jumped 28.2 percent in July from the same period last year.

Fixed-price sales on eBay surged a record 33.1 percent in July, compared with a year earlier, while auction-based sales dipped 1.1 percent, ChannelAdvisor added.

“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,” Scot Wingo, chief executive of ChannelAdvisor, wrote in a blog on the firm’s website.

EBay, once a scrappy auction site for mom and pop sellers, is enticing some of the world’s largest retailers by arguing it can help them improve competition against e-commerce leader Amazon.com Inc.

EBay shares rose 3 percent to $45.29 in afternoon trading on Monday. The stock rose as high as $45.65 earlier in the day. In late July, eBay shares hit a multi-year high of $46.15.

(Reporting By Alistair Barr; editing by Andre Grenon)