Amazon Delivers Bleak Retail Forecast

Sadighi, Lalee
October 2008
Red Herring;10/22/2008, p1
Trade Publication
The article reports that online retailer Amazon.com, has lowered its 2008 full-year sales forecast in its earnings report. The move of Amazon has caused its shares to decline by 12.5 percent in after-hours trading. The lower sales forecast is being attributed by the company to the softening economy and a tightening of consumer spending. The Internet retailer expects net annual sales to be between $18.46 billion and $19.46 billion. Amazon's net income rose to $118 million, or $0.27 per share, from $80 million, or $0.19 per share in 2008 third quarter.


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