Strong Gains for Amazon’s 3rd Quarter

A sour economy failed to slow down Amazon.com, as the company’s net sales climbed 39 percent in the third quarter.

The online retailer said consumer appetite for books and electronics remained strong. The results highlight Amazon’s dominance in online retailing, especially ahead of the holiday shopping season.

Iinvestors were disappointed, however, with the company’s higher spending on new distribution centers. Analysts said they were concerned about the cost of the 10 giant warehouses that opened in the third quarter, which ended Sept. 30, and a handful more that are to open before the end of the year.

Read Full Article from New York Times

- Posted: 2010-10-21 23:37:01

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