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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 226.20

-1.8%

3:59 PM EST

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To: Sarmad Y. Hermiz who wrote (41819)	2/22/1999 10:18:00 PM
From: KM	Read Replies (3) of 164684

Monday February 22, 9:35 pm Eastern Time Amazon.com sees losses widening slightly SAN FRANCISCO, Feb 22 (Reuters) - Online book and music retailer Amazon.com Inc. (Nasdaq:AMZN - news) expects its operating losses to widen slightly in the next few quarters as it invests for long-term market leadership, Chief Financial Officer Joy Covey said on Monday. ''We want to invest for long-term market leadership,'' Covey told analysts at a BancBoston Robertson Stephens technology conference here. She said the Seattle-based company expected its operating losses to widen not only as a percentage of sales, but also in absolute dollar terms. In the fourth quarter Amazon's operating loss as a percentage of sales narrowed slightly as results were buoyed by higher-than-expected online holiday sales. ''We're very pleased with the growth rate we saw,'' Covey said. Covey said there was no change in the company's guidance for the first quarter. When Amazon.com reported fourth quarter earnings the company said then that it expected the first quarter to be ''flat to slightly up from the fourth quarter.'' The company also plans to expand aggressively in 1999, adding a distribution centre in Nevada, which when complete will double the company's capacity. Amazon.com is now the largest online retailer of books and music.

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