Thursday, July 24, 2008

Amazon Profits from High Gas Prices

In these times of stratospheric gas prices, consumers are deciding to do their shopping from home, benefiting online retailers like An analyst quoted today in the New York Times remarks that Amazon’s financial performance “clearly shows that online selling is holding up very well even if consumer confidence is lower. Even if people are buying less over all, Amazon is benefiting." Tom Szkutak, Amazon’s chief financial officer, comments “We don’t think we are a good barometer for the economy.”

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