Christmas cancelled at eBay

santa-naughty-listIt seems that eBay has been naughty and is worried that Santa will not visit it this Christmas.

The online auctioneer trimmed its full year revenue forecast because it expects a weaker than expected holiday shopping season.

EBay cut its full-year revenue outlook to between $17.85 billion and $17.95 billion from its previous range of $18 billion to $18.3 billion.

The company also forecast fourth quarter revenues of less than $5 billion, falling short of the $5.2 billion expected by Wall Street.

Weak economic data from the United States and China is fanning fears of another global slowdown, forcing investors to re-examine the world economy that is only just emerging from one of the worst recessions in history.

The fact is that analysts are not certain what will happen this Christmas, but signs from the luxury retailers indicate that things might be tight.

US retail sales, which account for about one-third of consumer spending, recorded their first fall since January last month.

eBay’s marketplaces division, which grew less than some forecast and the fear is that the company’s dependence on Europe might have also played a role in depressing its outlook.