Alistair's Feed
Nov 24, 2012

U.S. holiday shopping moves earlier in stores and online

CHICAGO/SAN FRANCISCO, Nov 24 (Reuters) – Next week’s Cyber
Monday should still be the top online shopping day of the year
but it may pack less of a punch because online sales, a growing
number involving mobile devices, soared on Thanksgiving and
Black Friday.

Meanwhile, on Saturday, shoppers continued to visit stores
though the burst that began on Thanksgiving night had subsided.

Nov 21, 2012

Holiday online spending has early, strong start: comScore

SAN FRANCISCO (Reuters) – Holiday season online spending got off to an early and strong start, spurred by rising consumer confidence and retailer promotions ahead of the traditional big shopping days, comScore Inc (SCOR.O: Quote, Profile, Research, Stock Buzz) said on Wednesday.

From November 1 through November 18, $10.1 billion was spent online, a 16 percent increase versus the corresponding days last year, comScore reported. So far, November 8 has been the heaviest online spending day of the season so far at $829 million, it added.

Nov 20, 2012

Strong online growth seen this holiday shopping season

SAN FRANCISCO (Reuters) – E-commerce is expected to grow strongly this holiday season, spurred by early online deals, the rise of mobile devices and more free shipping offers.

Holiday sales will likely increase 16.4 percent from a year earlier, outpacing total retail sales, which are forecast to grow about 3.9 percent, according to analysts at Jefferies & Co.

Nov 19, 2012

Hedge fund Tiger Global discloses big Groupon stake

By Alistair Barr

(Reuters) – Tiger Global Management, a technology focused hedge fund run by Chase Coleman and Feroz Dewan, disclosed a big stake in Groupon Inc on Monday, a vote of confidence for the struggling daily deal website.

Tiger Global, which oversees about $8 billion in assets, owns 65 million Class A shares in Groupon, representing 9.9 percent of total Class A shares outstanding, according to a Securities and Exchange Commission filing late Monday.

Nov 16, 2012

Smartphones, tablets spark ‘post-pie’ Turkey Day sales

Nov 16 (Reuters) – Retailers are targeting “post-pie”
commerce, the jump in shopping created by the boom in
smartphones and tablet computers which Thanksgiving diners grab
as they collapse onto the couch after eating turkey and pumpkin
pie.

While people relax with family and friends or watch football
on TV, they are increasingly shopping online with these mobile
gadgets, creating a surge in traffic and purchases that
retailers are beginning to target for the first time this year.

Nov 14, 2012

Groupon names Raman chief operating officer

SAN FRANCISCO, Nov 14 (Reuters) – Groupon Inc said
on Wednesday that it promoted Kal Raman to chief operating
officer, giving the executive more power as the world’s largest
daily deal company tries to turn around its struggling
international businesses.

Raman joined the company in April and was previously Senior
Vice President, Global Sales and Operations. As COO, he will
continue to report to Chief Executive Andrew Mason and oversee
the company’s global sales and operations, Groupon said.

Nov 14, 2012

Amazon faces new obstacles in fight for holiday dollars

SAN FRANCISCO (Reuters) – Amazon.com Inc’s (AMZN.O: Quote, Profile, Research, Stock Buzz) gift for dominating the holiday shopping season may lose some of its magic this year.

The country’s biggest brick-and-mortar retailers, from Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz) and Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz) to Toys “R” Us TOYS.UL, are gunning for Amazon, competing more aggressively on price and offering speedier delivery through spruced-up websites and stores that double as distribution warehouses.

Nov 14, 2012

Analysis: Amazon faces new obstacles in fight for holiday dollars

SAN FRANCISCO (Reuters) – Amazon.com Inc’s (AMZN.O: Quote, Profile, Research, Stock Buzz) gift for dominating the holiday shopping season may lose some of its magic this year.

The country’s biggest brick-and-mortar retailers, from Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz) and Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz) to Toys “R” Us TOYS.UL, are gunning for Amazon, competing more aggressively on price and offering speedier delivery through spruced-up websites and stores that double as distribution warehouses.

Nov 8, 2012

Groupon results disappoint again, stock hits record low

SAN FRANCISCO, Nov 8 (Reuters) – Groupon Inc’s
results again fell short of Wall Street’s already-cautious
expectations as the daily deal company failed to turn around a
struggling European business, sending its shares to a record
low.

Groupon also confirmed on Thursday that it cut about 80
employees, mainly in sales, as part of an effort to automate and
streamline the way its daily deals are sourced and distributed.

Nov 8, 2012

Groupon shares slump after results disappoint again

SAN FRANCISCO (Reuters) – Groupon Inc’s (GRPN.O: Quote, Profile, Research, Stock Buzz) quarterly results lagged expectations as the daily deal company’s European operations continued to struggle, wiping 17 percent off its shares late on Thursday.

Groupon shares slid to a record low of $3.25 in after hours trading on Thursday after closing at $3.92.