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RETAIL NEWS

Amazon reports soaring Christmas sales

Online retail giant Amazon has celebrated soaring Christmas sales as customers flocked to buy its Kindle e-readers and e-books.

RETAIL NEWS

Amazon reports soaring Christmas sales

In the quarter ending 31 December 2012, the company increased its sales by 22% to to $21.3 billion, from $17.5 billion in the fourth quarter of 2011.

Operating income surged 56% to $405 million driven by strong sales of e-books and the company's Kindle e-readers. However, net income fell 45% to $97 million.

Amazon said its e-book category was growing fast, with sales up 70% on the previous year. 

Jeff Bezos, founder and CEO of Amazon, said: "We’re now seeing the transition we’ve been expecting.

"After 5 years, eBooks is a multi-billion dollar category for us and growing fast – up approximately 70% last year. In contrast, our physical book sales experienced the lowest December growth rate in our 17 years as a book seller, up just 5%.

"We're excited and very grateful to our customers for their response to Kindle and our ever expanding ecosystem and selection."


 

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