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Amazon.com posts strong sales gains in first quarter: E-tailer also inks new deal with borders group. (News).(first quarter 2002)(Brief Article)
LAST WEEK AMAZON.COM reported better than expected results for the first quarter ended March 31, 2002, and also announced an expansion of its alliance with Borders Group.
Sales for the entire company rose 21% to $847.4 million, and the net loss was $23.1 million compared to $234.1 million in last year's first period.
Sales in the books/music/video group increased 8.2%, to $443 million, and the pro forma operating income increased 68.1%, to $46.4 million. Amazon chairman Jeff Bezos said that the first-quarter results proved that the e-retailer's lower price policy is working. Low prices has joined selection and convenience as the "three pil1ars" of Amazon's …
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