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24/07/2001
Amazon progress towards profitability
Online retailer Amazon is progressing towards profitability, after announcing that the company’s losses where beginning to fall.
However, Amazon revealed it had missed its original sales forecasts, which sent shares falling. Shares, which were well off their 12-month high of $49.63, closed down 5.6 per cent on Monday at $16.03.
Amazon revealed its pro forma loss for the second quarter was $58 million, compared to $116 million last year.
Although Amazon has yet to turn a profit, it has managed to become the world's largest retailer. And until quite recently, the six-year-old dot.com had focused on growing sales, rather than earnings, arguing that it needed to create economies of scale before turning a profit.
The company’s new strategy has meant cutting costs resulting in the closure of distribution centres, the shelving of plans for a new corporate headquarters and the cutting of 1,300, or 15 per cent, of its staff. (MB)
However, Amazon revealed it had missed its original sales forecasts, which sent shares falling. Shares, which were well off their 12-month high of $49.63, closed down 5.6 per cent on Monday at $16.03.
Amazon revealed its pro forma loss for the second quarter was $58 million, compared to $116 million last year.
Although Amazon has yet to turn a profit, it has managed to become the world's largest retailer. And until quite recently, the six-year-old dot.com had focused on growing sales, rather than earnings, arguing that it needed to create economies of scale before turning a profit.
The company’s new strategy has meant cutting costs resulting in the closure of distribution centres, the shelving of plans for a new corporate headquarters and the cutting of 1,300, or 15 per cent, of its staff. (MB)
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23 January 2002
Amazon.com reports profit for the first time
Online bookstore Amazon.com has revealed its first-ever net profit, surpassing even the most optimistic forecasts from analysts. The company’s fourth quarter results showed the internet retailer made $5 million net for the period – compared with a loss of $545 million only one year earlier.
Amazon.com reports profit for the first time
Online bookstore Amazon.com has revealed its first-ever net profit, surpassing even the most optimistic forecasts from analysts. The company’s fourth quarter results showed the internet retailer made $5 million net for the period – compared with a loss of $545 million only one year earlier.
13 December 2001
Online bank turns profit for first time
Europe's largest internet-only bank, Egg has revealed that in November it turned a profit for the first time. The news meet targets set in June last year when the bank was floated. The online bank credited its prosperity down to earnings gained from credit card customers.
Online bank turns profit for first time
Europe's largest internet-only bank, Egg has revealed that in November it turned a profit for the first time. The news meet targets set in June last year when the bank was floated. The online bank credited its prosperity down to earnings gained from credit card customers.
09 April 2013
Crawford's Food Sells Cereal Products With Amazon UK
Crawford's Food in Portaferry, Co Down, a manufacturer of luxury breakfast granolas, has been assisted by Invest Northern Ireland to sell its handmade cereal products online with Amazon UK.
Crawford's Food Sells Cereal Products With Amazon UK
Crawford's Food in Portaferry, Co Down, a manufacturer of luxury breakfast granolas, has been assisted by Invest Northern Ireland to sell its handmade cereal products online with Amazon UK.
02 April 2002
CBI survey reveals shop sales remain strong
Retail sales remained strong in March but the annual rate of increase has edged down from the peaks over Christmas and the New Year, according to the CBI's latest monthly distributive trades survey. The survey, released on Tuesday April 2, was conducted between 5 and 20 March 2002 with 268 retail outlets taking part.
CBI survey reveals shop sales remain strong
Retail sales remained strong in March but the annual rate of increase has edged down from the peaks over Christmas and the New Year, according to the CBI's latest monthly distributive trades survey. The survey, released on Tuesday April 2, was conducted between 5 and 20 March 2002 with 268 retail outlets taking part.
09 October 2001
Marks & Spencer record first sales increase in three years
UK retailer Marks and Spencer have recorded a 2.8 per cent increase in the second quarter of its financial year. The latest figures are being interpreted in some quarters as the first sign of a turnaround in the retailer's fortunes after shares reached a 10-year low in 2000.
Marks & Spencer record first sales increase in three years
UK retailer Marks and Spencer have recorded a 2.8 per cent increase in the second quarter of its financial year. The latest figures are being interpreted in some quarters as the first sign of a turnaround in the retailer's fortunes after shares reached a 10-year low in 2000.
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