E-retail has grown more than 50% so far this year for the department store chain. Belk plans to spend $32 million on the project.
E-commerce stocks click again, beating the broader market for a second consecutive week
The Internet Retailer Online Retail Index advanced 3% last week.
Topics: coastal contacts inc., e - commerce, e-commerce stocks, e-retailers, financials, Internet Retailer, Internet Retailer Online Retail Index, liveperson inc., Netflix Inc., NewsMakers, Shutterfly Inc., stock market, valueclick inc., Vendor financials
E-commerce stocks in the Internet Retailer Online Retail Index outperformed the broader stock market last week.
The index, which tracks 25 publicly traded e-retailers and e-commerce technology providers, advanced 3.15% last week over the prior week. The Dow Jones Industrial Average and the Standard & Poor’s 500, meanwhile, both had decreases of 0.30% and 0.45%, respectively.
One top gainer was online marketing firm ValueClick Inc., which posted a 6.0% increase last week. ValueClick last week said it expects its second-quarter revenue to be near its projected high end of $160 million, primarily because of revenue growth from its ad network. Those results are to be released the week of July 30, ValueClick said.
Of the 25 stocks in the index, 21 had increases last week, while the stocks of four companies decreased in value.
Following are the best-performing stocks last week in the Online Retail Index and the percentage change in stock price for each:
• eGain, 18.5%
• Digital River, 12.1%
• LivePerson, 11.0%
• Keynote Systems, 8.4%
• ValueClick, 6.0%
Following are the Online Retail Index stocks that performed least well last week and the percentage change in stock price for the week:
• Bluefly, -3.9%
• eBay, -1.9%
• Vitacost, -1.7%
• U.S. Auto Parts Network, -1.7%
• 1-800-Flowers, +0.8%
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., Digital River Inc., eBay Inc., eGain Communications Corp., Groupon Inc., 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.