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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Bill Harmond who wrote (67343)	7/13/1999 12:07:00 AM
From: H James Morris	Read Replies (3) \| Respond to of 164684

With all this good news, why is Amzn going down?? >> NEW YORK (AP) - Amazon.com will add a vast array of toys and electronics to its Web site, the latest move by the Internet powerhouse to build itself into a massive online superstore. The Seattle-based company is expected to launch the two new online stores Tuesday, when it begins to sell thousands of new products - from Barbie dolls and Pokemon trading cards to DVD players and electronic organizers - on its site. ''Doesn't everyone just hate shopping at big toy stores and electronics stores? It's miserable, so we are giving people a better and easier alternative,'' said Jeff Bezos, Amazon.com's founder and chief executive. While Amazon.com has yet to turn a profit in its four years in business, the company hasn't stopped spending money to make itself into a more diversified online retailer and expand its customer base. In the last 14 months, the company has gone from being exclusively an online bookseller into an Internet shopping hub offering music, videos, auctions and electronic greeting cards. It now has more than 10 million customers. Amazon.com also has also invested millions of dollars in online pharmacy drugstore.com, Internet pet shop Pets.com, and cybersupermarket HomeGrocer.com. Amazon.com has been testing toys and electronics on its site since November, when it began selling a limited supply of both in its online gift shop. It will close the gift shop on Tuesday. Amazon.com's serious push into toys and electronics comes as analysts expect big growth in both areas. Internet research firm Jupiter Communications predicts online toy sales will rise from $52.6 million in 1999 to $550 million by 2002, while sales of consumer electronics on the Internet will grow from $78 million this year to $792 million in 2002. In its latest online foray, Amazon.com is working with more than 320 toy manufacturers, including the mass-market giants such as Mattel and Hasbro and the smaller companies that usually only sell to specialty toy shops. Shoppers will be able to browse the merchandise by age, category or price. They can also see the site's list of best-selling toys or those toys deemed best by outside toy experts. Comments and ratings from other customers also will be posted. And the toy store isn't just for kids. A ''Toys for Grownups'' area includes office toys, retro classics and party games. With its toy store, Amazon.com moves into a market now dominated by eToys, which has been online since 1997 and has become an Internet superstore for kids. Amazon.com will also come up against Toys R Us, the huge traditional retailer that has struggled to find its way on the Internet but now is the process of building up its online arm - toysrus.com. The new electronics store will feature gadgets and appliances from top manufacturers, including 3Com, Sharp and Panasonic. A buying guide to Amazon.com's electronics offerings includes detailed information on all its products composed by an in-house staff as well as reviews by fellow consumers. There is also in-depth technical data on the products, pictures of goods and thorough lists of frequently asked questions, such as warranty policies and customer service questions. Unlike many of its brick-and-mortar competitors, Amazon.com will offer a 30-day, money back guarantee and will not charge a restocking fee for items that have been open. Many retailers make shoppers pay up to 15 percent of the purchase price if they try to return an item that has been opened.<<

To: Bill Harmond who wrote (67343)	7/13/1999 9:17:00 AM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

AMZN: THOMAS WEISEL P made new estimate for fiscal year ending 12/99 of $-1.70 on 06/18/99 AMZN: THOMAS WEISEL P made new estimate for quarter ending 06/99 of $-0.51 on 06/18/99 AMZN: THOMAS WEISEL P made new estimate for quarter ending 09/99 of $-0.52 on 06/18/99 AMZN: THOMAS WEISEL P made new estimate for quarter ending 12/99 of $-0.44 on 06/18/99