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Blaming weaker-than-expected holiday sales, eToys (Nasdaq: ETYS) said Friday it will miss its revenue estimates for its third quarter and announced plans to cut its workforce next month in a bid to conserve a dwindling cash supply. eToys said it will have net sales of US$120 million to $130 million for the quarter, well below the $210 million to $...
Online shoppers in Australia will do 17 percent of their holiday shopping on the Web this year, compared to only 7 percent last year, according to a survey released Monday by Ernst & Young The consulting firm said that 10 percent of online shoppers will spend 50 percent of their holiday shopping budget at e-commerce sites, in a bid to avoid the cro...
After getting off to a strong start this holiday season, e-tail sales saw a "significant, unanticipated deterioration" in the week ended December 10th, according to the latest weekly survey by Goldman Sachs and PC Data Online The study, released Monday, found e-tail sales are higher than 1999 levels, but that the gains were less than had been hoped...
Internet grocery service HomeGrocer.com has slashed roughly 100 jobs -- the second workforce reduction in recent months -- as it continues consolidating operations with Webvan Group, Inc. (Nasdaq: WBVN). Webvan purchased HomeGrocer for US$1.2 billion earlier this year The current round of layoffs account for nearly a quarter ofHomeGrocer.com's work...
Agency.com (Nasdaq: ACOM) fell 7/8 to 3Friday after the company announced a restructuring that includes the closingof its office in Vail, Colorado and lowered its projections for fourth-quarter earnings The New York-based Internet consultant said the restructuring involves 190layoffs, resulting in a charge of US$11 million to $14 million to fourth-...
Oracle Corp. (Nasdaq: ORCL) rose 1 1/16to 28 9/16 Friday after the software maker reportedsolid results for the second fiscal quarter Analysts at Lehman Brothers and Prudential Securities reportedly repeatedfavorable recommendations on the stock following the news, with Lehmancalling the shares a buy and Prudential touting them as a strong buy....
Online retailers sank in early trading Monday, brought down by news that eToys (Nasdaq: ETYS) expects aweak quarter, as well as by analysts' downgrades at Goldman Sachs & Co eToys was down 3/4 at 9/32 in early morning trading. Goldman analyst AnthonyNoto said he lowered his rating on the company to market performer frommarket outperformer, after th...
Suddenly, the word no one would utter is on everyone's lips -- the R-word, that is. Predictions of soft landings have given way to outright claims that a recession is upon us, or at least poised like a tiger to pounce at any moment. Given the host of factors working against e-commerce, the question is not whether it will be among the sectors harde...
Many e-tailers will not have the capabilities to meet growing customerservice demands this holiday season, according to a report issued by Jupiter Research and the NPD Group The survey indicates that only 29 percent of Web sites meet consumerresponse time expectations, which are at an all time high....
The bad news from Internet companies continues unabated, with recent daysbringing more reports of layoffs and grim financial forecasts Internet consulting firms Organic and Bigstep.com, as well as RealNames.com, a company that operates anInternet keyword system, are among the latest dot-coms to slash jobs....
eBay (Nasdaq: EBAY) andGeneral Motors (NYSE: GM) announced Thursday that they have signed a co-marketing agreement that will see the Internet auction site and the auto giant partner on both online and offline promotions According to GMDirector of Alliances and Acquisitions Rich Christensen, eBay Motors, eBay's online automotive auction house, is a ...
Despite spending almost US$500 million over the past 12 months to improve their customer service operations, e-tailers could face a loss of some $11 billion in sales by the end of this year,according to a report released Friday by market analysis firm Datamonitor Poor customer service all too often will result in users abandoning theirfilled shoppi...
Threatened with the loss of its coveted relationship with the National Football League (NFL), Internet powerhouse Yahoo! said Thursday that it will remove gambling advertisements from its football Web pages "All professional sports leagues are sensitive to being associated with wagering," Jupiter Media Metrix analyst Christopher Todd told the E-Com...
Eight of the 10 fastest growing retail sites on the Web are run by traditional retailers, according to a report released Friday by Jupiter Media Metrix (Nasdaq: JMXI). The New York-based market research firm said that while pure-play e-tailers continue to hold onto the top four spots in its overall ranking, offline retailers gained fast during the...
Microsoft Corp. (Nasdaq: MSFT) wasdown 4 7/16 at 51 1/16 early Friday, as the software giant became the latesttechnology company to warn of a soft December quarter "We believe, like many other technology companies, that the current weaknessin worldwide economic conditions is resulting in a slowdown in PC sales,corporate IT spending, and consumer on...
A majority of the population it may not be, but there are quite a few people who have spent the past month watching every twist and turn in the bizarre U.S. presidential election as it swerved toward the finish line. Finally, it's over. And all of us who have watched a lifetime's worth of CNN (and CNN.com) over the past 36 days are rubbing our eye...
Auction sites are dominating the 2000 online holiday shopping season, according toa report issued by Media Metrix. For the two weeks ended November 26th and December 3rd, Web auction giant eBay averaged 60 percent more unique daily visitors than the Internet's top retail site Amazon.com, the report said....
More than half of the roughly 46 million adults in the UK have Web access and nearly a third of them are frequent online users, according to new data released Wednesday by ForresterResearch. As part of its semi-annual Internet User Monitor, the research firm alsofound that the Web's gender gap in the UK is narrowing. While online usage in UKhas tr...
Furniture.com. Garden.com. Mortgage.com. Pets.com. If any four e-tailers had reason to believe they could succeed by name alone, these four did Instead, within a 16-day span, all four companies announced they were shutting down operations. The closures came during the past three months, when dozens of dot-coms, including other higher profile compan...
In a bid to stop a "new wave" of software pirates, the Business Software Association (BSA) announced Wednesday a set of voluntary guidelines to help online auction houses curb sales of illegal software at their sites The guidelines are necessary because "many of the people who used to sell software at card tables at flea markets have migrated to on...
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