Amazon (AMZN) may be the only retail survivor
January 29, 2009 10:13 pm
It was another nice quarter and rather surprising given the economic slowdown. Amazon has been able to do wonders in this environment as consumers look for bargains at any cost. On Nov. 20, Amazon bottomed to a two-year low of $35.03 and has since risen sharply. Even though the retail outlook and economic conditions continue to deteriorate, they pulled off an amazon amazing quarter.
On Dec. 26 Amazon set the expectations high for an impressive finish to the fourth quarter when they said: “The 2008 holiday season finished as its best ever, with over 6.3 million items ordered worldwide on the peak day, Dec. 15, which is a record-breaking 72.9 items per second.”
How long can that pace continue?
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