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The BBC's Emma Massey
"Amazon says its losses are an investment decision"
 real 28k

Jeff Bezos, Amazon founder
"The way we do business works"
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Thursday, 8 June, 2000, 18:08 GMT 19:08 UK
Amazon launches new site

Amazon.com, the online retailer, is preparing to launch a third European website and is considering a move into the Latin American market.

The world's best known internet retailer plans to add to its UK and German online shops, but declined to say in which country the new website would be located.

The company has hinted in the past that it would like to expand to the French market, but the company's Chief Operating Officer Joseph Galli said the company was also interested in Spain and Italy.

"We believe Europe is the company's greatest long-term opportunity," Mr Galli said.

Officials said another of the company's aims was to break into the Spanish-speaking market.

Spanish books

It recently introduced Spanish-language books on its US site.

"Spanish is a huge opportunity," said Amazon's head of international operations, Diego Piacentini.

Amazon has seen its sales nearly double in the past year - but has also seen its losses rise, although its US books' division has moved into a profit.

In the first quarter of this year, the company reported a loss of $122m on revenues of $574m in the first quarter of the year.

Revenues were 95% higher than the $294m in the first quarter of 1999, but losses deepened significantly from $36m in the first quarter of last year.

Mr Galli declined to say when the company as a whole might turn a profit.

But he said he expected amazon.co.uk to go into the black in less than the five years it took the US books' division to move into profit.

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See also:

26 Apr 00 | Business
Amazon upbeat despite loss
15 Feb 00 | Business
Amazon's fight for dominance
05 Jan 00 | Business
Amazon sales (& losses) rocket
29 Sep 99 | The Company File
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