Amazon Reports Record First-Quarter Sales
The world's largest online retailer "Amazon", reported last week that its first quarter sales increased 46 per cent to $7.12bn
The rise was fuelled by purchases of the Kindle e-reader as well as the acquisition of Zappos, the web based shoe store.
The site recorded a massive 68 per cent increase in net income against the same period last year with North American sales alone increasing 47 per cent to $3.78bn.
International sales were up 45 per cent from a year ago to $3.35bn.
In fact throughout the recession, Amazon continued to record more than 20 per cent year-on-year quarterly sales growth, reflecting its competitive pricing.
And things are looking even brighter for the future of Amazon. Target, the US discount retailer, announced this week that it would start selling Kindles at the end of this month, the first time the e-reader has been on sale in a physical store.
Mr Szkutak said that Amazon saw the Target stores as "a great way for even more customers to see Kindle".
Tom Szkutak, chief financial officer, said that Amazon saw the Target stores as "a great way for even more customers to see Kindle".
Amazon's sales of non-media products rose a huge 72 per cent in the latest quarterly reports to $3.51bn, while media sales rose 26 per cent to $3.43bn.
The shares however, which have risen sharply in the past year, fell more than 6 per cent in after-hours trade as Amazon forecast a second-quarter earnings range slightly below Wall Street's expectations.
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