Dollar decline boosts Amazon overseas sales
July 24, 2008 by Peter Chubb
Filed under Business, News
Not all businesses are suffering from the current credit crunch, Amazon.com Inc., who are the worlds largest Internet retailer have reported a better than forecast second-quarter profit.
Many Amazon customers have been purchasing items such as flat-panel TVs and jewelry, and Amazon have said that it is because of the decline of the dollar that has boosted their overseas sales.
Chief Executive Officer Jeff Bezos managed to double Amazon’s net income thanks to some great promotions, such as free shipping and lower prices in the hope of enticing customers who do not have as much money to spare.
Amazon.com shares rose 8.6 percent yesterday to $76.58; this is a stark difference as their shares earlier in the year reported a 24 percent drop.
A forecast for full-year sales look set to be as much as $20.1 billion. It looks as though the idea of buying online is more of an attractive offer to people now. Firstly you save money purchasing items online, also you do not have to waste fuel going to a store to pick up an item.