News

comScore: Desktop e-commerce spending up 16%

BY Dan Berthiaume

Reston, Va. — Desktop-based e-commerce sales totaled $49.8 billion in the U.S. during the second quarter of this year. According to a new report from comScore, this represents an almost 16% increase from about $43.1 billion in the second quarter of the previous year.

This also marks the 15th consecutive quarter of positive year-over-year growth and 11th consecutive quarter of double-digit growth. Mobile commerce spending rose by $4.7 billion, or 24%, during the quarter. Other highlights of comScore’s data include:
• The top-performing online product categories were: Apparel & Accessories, Digital Content & Subscriptions, Sport & Fitness, Consumer Packaged Goods and Home & Garden. Each category grew at least 19 compared to a year ago.
• E-commerce accounted for 9.6% of consumers’ discretionary spending, the highest second quarter share on record.
• Apparel & Accessories was the highest grossing m-commerce product category with more than $700 million in Q2 sales, followed by Computer Hardware and Digital Content & Subscriptions.

"The second quarter of 2013 saw a healthy acceleration in the online spending growth rate to nearly 16 percent on the strength of a particularly enthusiastic April from consumers," said comScore chairman Gian Fulgoni. "Increased spending growth for the quarter not only reflects the long term share shift towards digital commerce, but also the near-term signals of sustained improvement in consumer sentiment. This strength is particularly significant since the second quarter tends to be seasonally lighter for e-commerce, and, as such, represents a positive indicator for the back half of the year."

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FINANCE

Gap reports higher sales for Q2, July

BY Dan Berthiaume

San Francisco — Gap Inc. reported net sales of $3.87 billion for the second quarter of 2013, up 8% from $3.58 billion for the second quarter last year. Net sales for July of this year totaled $1.12 billion, close to 6% higher than $1.06 billion in July of the previous year.

Meanwhile, Gap and its Banana Republic and Old Navy brands had a tough July in terms of same-store sales but a pretty good second quarter. During July, Gap global same-store sales rose 7% as compared to 10% last year, while Banana Republic global same-store sales fell 1% as opposed to an 8% increase last year. Old Navy global same-store sales fell 5% last month compared to an 8% hike in July 2012.

However, except for Banana Republic the company had a successful second quarter for same-store sales. Gap global same-store sales grew 6% in Q2 2013, double the 3% growth recorded a year earlier, and Old Navy reported identical results. Banana Republic did not fare so well, reporting a 1% same-store sales decline compared to a 3% increase last year.

The company expects diluted earnings per share for the second quarter of fiscal year 2013 to be in the range of $0.62 to $0.64. This compares to diluted earnings per share for the second quarter of fiscal year 2012 of $0.49. Gap will release its full Q2 2013 earnings statement on Aug. 22.

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News

Walmart.com gives Facebook fans early access to back-to-school sale

BY Dan Berthiaume

San Bruno, Calif. — Walmart.com is giving fans of its Facebook page early access to a "Back to Class Cyber Monday" event being held Monday, Aug. 12. Customers will receive online discounts of up to 60% on close to 300 back-to-school items ranging as high as almost 60%, while supplies last. Fans of Wal-Mart’s Facebook page can gain early access to the sale by visiting the page on Sunday, Aug. 11 and clicking a special link.

"We’re offering our biggest back-to-school savings ever during a time when parents and students need it most," said Joel Anderson, president & CEO of Walmart.com U.S. "As parents, we recognize the importance of our children’s education, and Walmart.com’s ‘Back to Class Cyber Monday’ helps families prepare for academic success without sacrificing savings."

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B.Likes says:
Sep-28-2013 03:31 pm

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