World's Largest Bookstore Doing Great
Submitted by birdie on April 24, 2008 - 7:38am
Having just commented on a story about a local bookstore and how important it is to buy local, here's the news from Amazon.com; it's good news for the mega book retailer: Sales in the first quarter ended March 31, net sales at Amazon.com rose 37% to $4.13 billion, and net income rose 30% to $143 million. The company attributed the gains to low prices, improved inventory and increased affiliate sales. Among other highlights reported by Shelf Awareness:
Amazon continued to be mum about Kindle unit sales, saying only that "Kindle selection continues to grow--with more than 115,000 titles now available, up from 90,000 at launch." The company launched Amazon TextBuyIt, a service that lets customers use text messages to find and buy products sold on Amazon, allowing customers to shop, compare prices and buy from any mobile device. Sales at Amazon's U.S. and Canadian sites were $2.13 billion, up 31% from the same period a year earlier. Sales of what Amazon calls "worldwide media"--which includes books, music and movies--grew 28% to $2.54 billion, slightly more than half of all sales.