Is E-Commerce Slowing Down? Investors Await Amazon's Response -- Barrons.com
Is E-Commerce Slowing Down? Investors Await Amazon's Response -- Barrons.com
By Eric J. Savitz
作者：埃裏克·薩維茲
The e-commerce business is suddenly looking somewhat vulnerable. Growth is slowing after Covid-quarantine spikes in online shopping. Bricks-and-mortar stores are now largely reopened. Meanwhile, ongoing product shortages are complicating the picture, right on the cusp of the start of the holiday shopping season.
電子商務業務突然顯得有些脆弱。在COVID-19隔離區在線購物激增之後，增長正在放緩。實體店現在已基本重新開放。同時，持續的產品短缺使情況變得複雜，正值假日購物季開始的風口浪尖。
Adobe has estimated that online holiday sales will grow somewhere between 5% to 15%, down from last year's lockdown-driven growth of 33%.
Adobe估計，在線假日銷售額將增長約5％至15％，低於去年封鎖驅動的33％的增長。
The questions around e-commerce are showing up in recent tech earnings reports, especially over the last 24 hours.
有關電子商務的問題出現在最近的科技收益報告中，尤其是在過去的24小時內。
Late Wednesday, eBay posted third quarter results that were just above Wall Street estimates and guidance. But its fourth-quarter outlook disappointed analysts, bringing fresh questions about the eBay (ticker: EBAY) growth outlook; the stock is down almost 7% on Thursday.
週三晚些時候，eBay公佈的第三季度業績略高於華爾街的估計和指導。但其第四季度展望令分析師失望，這給eBay（股票代碼：EBAY）的增長前景帶來了新的質疑；該股週四下跌了近7％。
Aside from eBay, though, investors seem suddenly confident about e-commerce stocks.
但是，除了eBay之外，投資者似乎突然對電子商務股票充滿信心。
On Thursday morning, Shopify, which provides e-commerce software used by thousands of online sellers, reported third quarter results that were below analysts' consensus estimates. Investors were apparently expecting worse, triggering short covering by some Shopify (SHOP) investors, and driving the stock up nearly 8%. Overstock (OSTK), which has shifted its business model away from end-of-life and remaindered goods toward the home furnishings sector, posted September quarter results that topped estimates, spurring a 26% move in its highly shorted stock.
週四上午，提供成千上萬在線賣家使用的電子商務軟件的Shopify公佈的第三季度業績低於分析師的共識預期。投資者顯然預期會更糟，這引發了一些Shopify（SHOP）投資者的空頭回補，並推動該股上漲了近8％。Overstock（OSTK）已將其商業模式從報廢和剩餘商品轉向家居用品行業，該公司公佈的9月季度業績超出預期，刺激了其高度做空的股票上漲26％。
The more upbeat sentiment on those e-commerce plays is driving up other high-profile players as well. Wayfair (W), which competes with Overstock in the home furnishings segment, spiked 8% on Thursday, while the pet-products seller Chewy (CHWY) is up 8%.
對這些電子商務公司的樂觀情緒也推動了其他知名企業的發展。在家居用品領域與Overstock競爭的Wayfair（W）週四飆升了8％，而寵物用品銷售商Chewy（CHWY）上漲了8％。
The best answer about the state of e-commerce could come late Thursday, when Amazon is scheduled to report results for its September quarter. Shares of Amazon are up 2.3% in Thursday afternoon trading, but the stock remains down 3.6% since the company last reported earnings on July 29.
關於電子商務狀況的最佳答案可能在週四晚些時候出現，屆時亞馬遜計劃公佈其9月季度的業績。亞馬遜股價在週四下午的交易中上漲了2.3％，但自該公司上次於7月29日公佈業績以來，該股仍下跌3.6％。
Write to Eric J. Savitz at eric.savitz@barrons.com
通過 eric.savitz@barrons.com 寫信給 Eric J. Savitz
譯文內容由第三人軟體翻譯。