In its second-largest acquisition, Amazon buys the company for $970 million.
Online sales were up 34% for the week ending July 3 over the corresponding week a year ago, reaching $1.17 billion from $872 million, comScore Networks Inc. reports.
Online sales were up 34% for the week ending July 3 over the corresponding week a year ago, reaching $1.17 billion from $872 million, comScore Networks Inc. reports. On a percentage basis, it was the fourth highest weekly growth this year.
For the first half of 2005, online retail sales are up 25.2% compared to last year, reaching $36.6 billion from $29.3 billion.
By comparison, total retail sales for the week ending July 2 were up 6.3% from the same week a year ago, reports ShopperTrak’s National Retail Sales Estimate.
The National Retail Federation reports that retail sales in June, excluding automobiles, gas stations, and restaurants, rose 7.5% unadjusted over last year. The gains, which led second quarter sales to rise 6.1% over 2004, were stronger than NRF had been expecting. "A flurry of economic indicators, like rising gas prices and high interest rates, have led some to speculate that consumers will pull in the reins on spending," said NRF chief economist Rosalind Wells. "But nearly every month, consumers are continuing to spend beyond our expectations."
Online travel sales for week ending July 3 were up 38% to $1.3 billion from $948 million in the corresponding week a year ago, comScore reports.