Thursday, January 29, 2009

Good economic news!


I know, I have never been too much into posting or reporting on the economy, its never been my strength...but I really would like people to read this story because it is important. There is plenty of good news out there.

I really wish that more news like this would be reported. I have always believed that half of the fear people are feeling over the economic crisis is media-driven.

Amazon profits from festive sales

Profit at online retailer Amazon rose 9% in the final three months of last year, as the company enjoyed a robust holiday shopping season.

It said net profit totalled $225m in the fourth quarter, up from $207m a year ago.

Unlike many retailers, Amazon has not yet been hit hard by the cutback in spending by many consumers.

Amazon said it would continue to offer low prices and free shipping deals to lure budget-conscious shoppers.

Revenue increased 18% to $6.7bn, beating analysts estimates and Amazon it expected sales to rise in the first three months of 2009.

It looks like they took a lot of market share and made substantial gains," said Jeffrey Lindsay of Sanford C Bernstein.

"The good thing is that Amazon hasn't had to discount to the extent that people feared to achieve this."

Chief executive Jeff Bezos said Kindle, the electronic-reading device it introduced in 2007 to encourage book, magazine and newspaper downloads, had boosted sales.

Once a bookseller, Amazon now sells products in more than three dozen categories ranging from hairdryers to jewellery.

In the UK, it launched a music download site last year.

3 comments:

Average American said...

It's a start CH, but we need a lot more like it to offset the many that are laying off and going chapter 11 etc. The good news for the day was the House Republicans ALL voting no on the Porkulus plan. Make the dems change a bunch of nasty things in it before they join with them.

commoncents said...

Great post!

Would you like a Link Exchange with our new blog COMMON CENTS where we blog about the issues of the day??

http://www.commoncts.blogspot.com

C.H. said...

AA,

You are right...I am still trying to figure out what this stimulus thing is all about. I just want things to get better...hhhhhh.

Commoncts,

I will look into it