Private equity firm Apollo Global Management will take Rackspace private in the all-cash deal.
E-commerce sales grew 19% to $136.4 billion in 2007 while overall retail sales grew by only 4%, the Commerce Department reports.
U.S. e-commerce sales grew 19% in 2007 to $136.4 billion, while overall retail sales grew by only 4%, the U.S. Commerce Department reports. In the fourth quarter, e-commerce sales totaled $36.2 billion, 18% more than the same quarter in 2006, while total retail sales increased 4.7%.
E-commerce accounted for 3.4% of all U.S. retail sales in 2007, up from 2.9% in 2006, the Commerce Department estimates. However, the Commerce Department retail sales figure includes many sales that are not likely to occur online-such as restaurant, convenience store, gasoline and heating fuel receipts. Excluding such sales, Internet Retailer estimates about 6% of U.S. retail sales occur online.
The Commerce Department figures are adjusted for seasonal variation and holiday and trading-day differences, but not for price changes.