Alibaba’s Tmall Global now features goods from 14,500 overseas brands, 80% of them selling in China for the first time.
The Internet Retailer Online Retail Index lost 4.5% last week.
In the worst week for e-commerce stocks since February, the Internet Retailer Online Retail Index lost 4.5% last week, falling even faster than the slumping broader stock market.
By contrast, the Dow Jones Industrial Average lost 1.64% last week and the Standard & Poor’s Industrial Average fell 2.24%. The Online Retail Index fell 5.62% in late February, its worst weekly performance of 2011.
Among the 25 stocks of online retailers and e-commerce technology providers, only one registered a significant gain last week. That was e-retailer Bluefly whose shares gained more than 4% after the fashion apparel retailer named as its chief operating officer a former executive of Amazon.com Inc. and book publisher Harper Collins.
The only other stock not to fall was GSI Commerce, which is in the process of being acquired by eBay Inc. GSI’s stock moved up a modest 0.3%.
This week’s index reflects the departure of Drugstore.com Inc., whose acquisition by Walgreen Co. closed June 3. Replacing Drugstore.com in the index is Coastal Contacts Inc., an online retailer of contact lenses and eyeglasses. However, Coastal made an uninspiring debut as its shares fell 16% last week, the most of any of the 25 stocks in the Online Retail Index.
Here are the best-performing stocks in the Online Retail Index last week and the percentage change in stock price of each:
- Bluefly, 4.2%
- GSI, 0.3%
- PetMed Express, -0.4%
- RealNetworks, -0.9%
- Amazon, -1.0%
Here are the stocks that performed least well last week and the percentage drop in stock price:
- Coastal Contacts, -16.0%
- Bidz.com, -11.1%
- Shutterfly, -10.9%
- Akamai, -10.3%
- 1800Flowers.com, -10.3%
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., GSI Commerce Inc., Keynote Systems Inc., LivePerson Inc., Netflix Inc., NutriSystem Inc., Overstock.com Inc., PetMed Express Inc., RealNetworks Inc., Shutterfly Inc., Systemax Inc., U.S. Auto Parts Network, United Online Inc. (owner of FTD.com), ValueClick Inc. and Vistaprint Ltd.