Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
But the Internet Retailer Online Retail Index is still down 0.8%
The term “mixed” might best describe the financial performance of e-commerce retailers and technology providers last week.
Of the 25 stocks in the Internet Retailer Online Retail Index only online jeweler and auctioneer Bidz.com Inc.’s stock increased by double digits last week. It posted an 11.1% increase over the prior week. That is despite Bidz.com’s release last week of first quarter earnings that were down year over year.
Its first quarter revenue of $16.8 million was 27.3% less than the $23.1 million in revenue in the first quarter of 2011. Bidz.com, No. 205 in the Internet Retailer Top 500 Guide, had a net loss of $1.5 million in the 2012 first quarter compared with a $382,000 loss for the same quarter a year ago.
Bidz.com is one of 10 e-commerce companies in the index whose stocks gained last week. Fourteen posted decreases and one, U.S. Auto Parts Network, was flat.
Overall, the Online Retail Index decreased 0.81% last week, a shallower decline than the broader market. The Dow Jones Industrial Average decreased 1.67% and the Standard & Poor’s 500 fell 1.15% last week.
Following are the best-performing stocks last week in the Online Retail Index and the percentage change in stock price for each:
• Bidz.com, 11.1%
• LivePerson, 6.2%
• Netflix, 5.8%
• Coastal Contacts, 5.1%
• Overstock, 4.7%
Following are the Online Retail Index stocks that performed least well last week and the percentage loss in stock price for the week:
• eGain, -17.1%
• PetMeds Express, -15.9%
• Digital River, -5.7%
• Akamai, -4.3%
• Vitacost, -3.6%
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., PetMeds 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.