First Quarter Results Overview: *Total net sales were $77.3 million, a decrease of $53.0 million or 40.7%, compared to $130.3 million last year. As previously announced, the Company temporarily closed all of its 239 stores on March 18, 2020 in response to the COVID-19 pandemic. All stores remained closed to the public for the final 45 days of the 91-day fiscal quarter, including during the peak weeks of the quarter surrounding normal school spring breaks and Easter. Net sales from physical stores for the first quarter of fiscal 2020 were $47.0 million, a decrease of 57.5% compared to $110.6 million for the first quarter of fiscal 2019. The Company's e-commerce business continued to operate throughout the first quarter, and increased significantly following the closure of the Company’s stores. Net sales from e-commerce for the first quarter of fiscal 2020 were $30.3 million, an increase of 54.2% compared to approximately $19.7 million for the first quarter of fiscal 2019. The Company ended the quarter with 239 total stores, including one RSQ-branded pop-up store, all of which were closed as of the end of the first quarter of fiscal 2020, compared to 229 total stores, including three RSQ-branded pop-up stores, last year. *Gross profit was $1.6 million, or 2.1% of net sales, compared to $35.7 million, or 27.4% of net sales last year. Product margins decreased 770 basis points as a percentage of net sales primarily due to an estimated inventory valuation reserve of $4.7 million and increased markdowns. Occupancy costs deleveraged 1,250 basis points as a percentage of net sales despite being $0.5 million lower than last year, primarily due to the significant net sales decline resulting from the store closures noted above. Distribution costs deleveraged 440 basis points as a percentage of net sales primarily due to an increase in e-commerce shipping charges of $0.9 million resulting from a greater volume of e-commerce orders. Buying costs deleveraged 70 basis points as a percentage of net sales despite being $0.1 million below last year. *Operating loss was $28.4 million, or 36.7% of net sales, compared to operating income of $0.1 million, or 0.1% of net sales, last year. The decrease in operating results was directly attributable to the impacts of the COVID-19 pandemic on our business, including as noted above. *Net loss was $17.4 million, or $0.59 per share, compared to net income of $0.7 million, or $0.02 per diluted share, last year.
The value of goods transacted on eBay Inc.’s U.S. marketplace grew 4.8% to $8.78 billion during the company’s third quarter ended Sept. 30, the online marketplace reported Wednesday. That’s up from $8.38 billion during the third quarter a year ago.
For the first nine months of 2017, U.S. gross merchandise value was $26.43 billion, up 2.6% from $25.76 billion.
Globally, sales on eBay’s marketplaces increased 8.1% to $21.68 billion from $20.05 billion in the same quarter a year ago. Excluding the impact of foreign exchange rates, global sales grew 7% year over year, eBay says.
For the first three quarters of the year, global GMV grew 4.2% to $63.98 billion from $61.42 billion.
Global sales on eBay’s marketplaces saw the highest growth rate in three years, eBay says.
“In Q3, we drove acceleration across all three of our platforms (eBay marketplace, StubHub and Classified), delivering strong top and bottom-line financial results and our fastest volume growth in over three years,” CEO Devin Wenig says. “Our customers are responding to the significant product enhancements we have been making, and this is reflected in our results.”
more at: https://www.digitalcommerce360.com/2017/10/18/ebays-us-sales-grow-almost-5-global-gmv-accelerates-3-years/