Amazon Shareholders Meeting Highlights: Harry Potter, Sluggish Profit Growth

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Amazon Shareholders Meeting Highlights: Harry Potter, Sluggish Profit Growth

06-16-2007, 08:24 AM,

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mandy Offline

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Amazon Shareholders Meeting Highlights: Harry Potter, Sluggish Profit Growth

Quote:Amazon.com has taken more than a million pre-orders for the final "Harry Potter" book due out in July, but the Web retailer won't make a profit, chief executive Jeff Bezos told shareholders. Amazon's handling of the release -- a $17 discount off cover price, a free shipping offer and guaranteed on-time delivery -- showed yet again that the company is willing to take a hit to cement customer loyalty...

Amazon.com CEO Jeff Bezos urged shareholders to be patient following several years of heavy investment in technology, new product categories and new locations such as China that depressed earnings and ate into margins. "We are very focused on the long term, but we also believe that the long term has to eventually come," he said...

full article: http://ecommercetimes.com/story/l05ljPKr...fits.xhtml

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