An advertising watchdog’s report found dozens of claims that it says were false and deceptive. Wal-Mart blames suppliers.
The Internet Retailer Online Retail Index lost 1.31% last week.
It wasn’t the jolliest week for e-commerce investors, but it was worse for many others on Wall Street.
The Online Retail Index, which tracks the stocks of 25 online retailers and e-commerce technology and service providers, fell 1.31% last week, while the Dow Jones Industrial Average was losing 2.61% and the Standard & Poor’s 500 Index plunged 2.83%.
Only seven of the 25 Online Retail Index stocks gained last week, but one of them advanced big time. EGain Communications Corp., which makes software used in contact centers, added nearly 41% to its share value last week. The company’s stock price went up after it unveiled new software aimed at midsized contact centers that lets agents communicate with shoppers by phone, e-mail and live chat.
At the other end of the spectrum, online eyewear retailer Coastal Contacts lost 13% of its value in a week in which it reported an annual sales increase of 20% but a $4.7 million net loss compared with net income of $2.9 in its prior fiscal year.
Here are the best-performing stocks last week in the Online Retail Index and the percentage increase in stock price for each:
Keynote Systems, 6.1%
United Online, 1.0%
PetMed Express, 0.8%
Here are the Online Retail Index stocks that performed least well last week and the percentage loss in stock price for the week:
Coastal Contacts, -13.0%
Blue Nile, -8.0%
Digital River, -6.8%
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., 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.