BigCommerce surges on strong start to Cyber Week

Commerce.com

29/11/2022 15:48

** BigCommerce Holdings Inc's  BIGC.O  shares up 15.3% at
$9.10 as e-commerce platform provider  off to a busy start to
Cyber Week
    ** BIGC shares on track for biggest one-day pct gain since
May 13
    ** Co late Mon said merchant gross merchandise value (GMV)
on Black Friday increased 31% yr/yr, bolstered by 25% increase
in total order and 4.5% increase in avg order value (AOV)
    ** On Thanksgiving, GMV rose 23% with total orders
increasing 22%, with AOV up nearly 1% vs last year
    ** “Given the soft global economy, this year’s peak holiday
sales week is more important than ever," CEO Brent Bellm said in
statement
    ** Despite Tues advance, BIGC shares have lost 74% in 2022
as rising interest rates have slammed tech names, and stubbornly
high inflation has hurt retailers
    ** According to Adobe Analytics, Cyber Week is expected to
generate $35.2 bln in online spend, up 3.7% yr/yr  urn:newsml:reuters.com:*:nFWN32O1G4
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))