[an error occurred while processing this directive]
BBC News
watch One-Minute World News
Last Updated: Thursday, 22 April, 2004, 21:04 GMT 22:04 UK
Amazon profits from sales surge
Amazon
Amazon moves into the black
Online retailer Amazon has seen its good fortune continue, posting a profit for the first three months of the year.

The group said it had earned $111m (62.7m), compared with a $10m (5.8m) loss for the same time last year.

Excluding certain items, the American online trading giant posted a profit of $97m (57.6m) up 141% from last year, beating analyst forecasts.

The group has benefited from aggressive pricing and free shipping incentives which helped lift sales by 41%.

Amazon also said the weak dollar had helped sales over the period rise to $1.53bn from $1.08bn in 2003.

In January, the group announced its first full-year profit, saying it made a net profit of $35.3m in 2003, compared with a loss of $149.1m in 2002.

New lines

The group has transformed itself from an internet bookseller to the equivalent of a shopping centre offering everything from clothes to DVDs.

And just before its results, it announced it had opened an online jewellery and watches store.

Chief executive Jeff Bezos told the Wall Street Journal that Amazon itself would stock "millions of dollars of jewellery in a secure warehouse".

He said the move would give it the ability to set prices for the goods on sale rather than relying on customers to do so.

"The margins in a typical jewellery retailer are so high you can save people a significant amount of money," Mr Bezos told the US newspaper.

Looking ahead, the group added it expected annual sales to surge to between $6.45bn and $6.85bn from $5.26bn in 2003.


WATCH AND LISTEN
Robin Terrell, managing director




SEE ALSO:
Amazon finally flows into profit
27 Jan 04  |  Business
Amazon investigated over CD sales
08 Jan 04  |  Entertainment
Will Amazon please in 2004?
22 Oct 03  |  Business
Amazon moves back into profit
21 Oct 03  |  Business
Amazon trims its losses
24 Apr 03  |  Business
Amazon shuts after price error
19 Mar 03  |  Business
Amazon celebrates second profit
23 Jan 03  |  Business


RELATED INTERNET LINKS:
The BBC is not responsible for the content of external internet sites


PRODUCTS AND SERVICES

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia
UK | Business | Entertainment | Science/Nature | Technology | Health
Have Your Say | In Pictures | Week at a Glance | Country Profiles | In Depth | Programmes
Americas Africa Europe Middle East South Asia Asia Pacific