For Jack Ma, executive chairman of Alibaba Group Holdings, today is an extremely busy and lucrative day because the company he founded 15 years ...
Amazon reported that sales in the first quarter grew 15% over Q1 last year. It also announced that it will discount by 30% all books over $15.
Amazon.com Inc. continues to put pressure on the bookselling market. It announced today that it will discount all books over $15 by 30%. Last July, it began discounting all books over $20.
At the same time it announcer t he discounting, it also reported that sales in the first quarter were $847 million, up 21% from $700 million in the first quarter of 2001.
Net loss for the first quarter was $23 million compared with a net loss of $234 million in first quarter 2001. The company reported first quarter 2002 operating profit of $2 million, compared with an operating loss of $217 million a year ago.
Amazon also reported that Marketplace, which sells new, used and refurbished items sold on Amazon.com by small businesses and individuals, equaled 23% of total U.S. orders and 12% of U.S. units, compared with 4% of U.S. orders and 2% of U.S. units a year ago. It also said sales from the company`s U.K., Germany, France and Japan sites, grew 71% to $226 million. Including sales from the U.S. site, more than one-third of the Company`s sales were made to international customers.
U.S. Books, music, and DVD/video sales grew 8%. U.S. electronics, tools and kitchen sales grew 8% to $126 million. Annualized inventory turns reached 18, up from 13.