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Amazon enjoys strong start to the year

25/04/07 - Online retailer Amazon enjoyed a strong start to 2007, with sales rising 32% in the first three months of the year.
Pre-tax profits also rose sharply, up to $144m (£72m) from $96m in the corresponding period a year ago.

Amazon said it had seen strong demand in all major regions, with sales in the US and Canada up 30% and returns from Asia and Europe ahead by 35%.

The retailer said it expected sales and profit growth to slow in the second quarter of the year.

Nevertheless, Amazon is still forecasting operating profits for the whole of 2007 to be at least 19% higher than last year, with much of this success down to the launch of Amazon Prime, an online membership scheme which allows subscribers two days free shipping for a one-off annual fee of $79.

International sales accounted for 46% of total sales during the period, dominated by the UK, France, Germany, Japan and China.

Amazon's performance in 2006 was affected by heavy investment in technology and improvements to its range of toy products.

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<a href="http://www.pulsewebhosting.com/news/amazon-enjoys-strong-start-to-the-year/81/" title="Amazon enjoys strong start to the year">Amazon enjoys strong start to the year</a> Published Date: 2007-04-25 11:14:26

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