Roger Hardy, who in February sold web-only eyewear company Coastal Contacts for $385.7 million, will consolidate OnlineShoes.com and ShoeMe.ca.
The Internet Retailer Online Retail Index fell nearly 6% for the week.
Investors bid up the stocks of No. 1 online retailer Amazon.com Inc. and web and mobile measurement vendor Keynote Systems Inc. last week after the two companies reported earnings. But otherwise Wall Street savaged e-commerce shares, dropping the Internet Retailer Online Retail Index 5.80% for the week, its worst showing of 2011.
The broader market was also down last week, although not as sharply. The Dow Jones Industrial Average lost 3.48% for the week and the Standard & Poor’s 500 Index declined 3.30%.
Only five Online Retail Index stocks advanced last week as 20 lost ground. The index tracks the stocks of 25 online retailers and e-commerce technology and service providers.
The biggest winner was Keynote, which last week reported a 25% year-over-year revenue increase, after adjusting for accounting policy changes. Also moving up for the week was Amazon, which reported another blockbuster quarter, with revenue 51% higher than the same quarter last year.
Online printing services retailer VistaPrint Ltd. took the biggest hit of the week, losing more than 40% of its value after management projected lower-than-expected earnings for the rest of the year. E-retailers Overstock.com Inc. and Shutterfly Inc. also suffered double-digit losses after reporting second quarter results last week.
Here are the best-performing stocks last week in the Online Retail Index and the percentage gain in stock price for each:
• Keynote Systems, 10.3%
• NutriSystem, 3.0%
• Amazon, 2.8%
• U.S. Auto Parts Network, 0.7%
• eGain, 0.3%
Here are the Online Retail Index stocks that performed least well last week and the percentage drop in stock price for the week:
• Akamai, -20.3%
• Digital River, -20.0%
• Overstock, -17.6%
• Shutterfly, -9.7%
The 25 companies in the Internet Retailer Online Retail Index are: 1-800-Flowers.com Inc., Akamai Technologies, Amazon.com Inc., American Greetings Corp., Bidz.com Inc., Blue Nile Inc., Bluefly Inc., Coastal Contacts Inc., DemandTec Inc., Digital River Inc., eBay Inc., eGain Communications Corp., Keynote Systems Inc., LivePerson Inc., Netflix Inc., NutriSystem Inc., Overstock.com Inc., PetMed Express Inc., Shutterfly Inc., Systemax Inc., U.S. Auto Parts Network, United Online Inc. (owner of FTD.com), ValueClick Inc., Vistaprint Ltd and Vitacost.com Inc.