RETAIL UPDATE: Amazon soars as High Street struggles

Online giant gaining market share on bricks and mortar rivals.
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Online retailer Amazon has revealed its fourth quarter results, with its net sales increasing 18 per cent to $6.70 billion during the period.

While the High Street is struggling, Amazon is soaring - with full year net sales also growing by 29 per cent to $19.17 billion. Operating income also increased by 28 per cent to $842 million.

North American segment sales (including the firm's US and Canadian sites) were $3.63 billion, up 18 per cent from Q4 2007. International segment sales, meanwhile (including Amazon's UK, German, Japanese, French and Chinese sites) were $3.07 billion, up 19 per cent from Q4 2007.

In fact, excluding the unfavourable impact from year-over-year changes in foreign currency exchange rates throughout the quarter, international sales grew 31 per cent.

Worldwide media sales grew by nine per cent, while worldwide electronics and other general merchandise was up 31 per cent to $2.89 billion.

Some of last year's star performers on the site included The Dark Knight, Mamma Mia on DVD, the Nintendo Wii and JK Rowling's new book, The Tales of Beedle the Bard.


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