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Non-Tech : EARNINGS REPORTING - surprises, misses & more -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (231)	8/6/2000 2:30:26 AM
From: 2MAR$	Read Replies (1) \| Respond to of 762

7/28.....Amazon.long ? haha Amazon.com (Nasdaq:AMZN - news), the online retailer, took a body blow on Thursday, falling 13% by day's close to 31 3/8 -- after the company reported a wider loss for the quarter than the year before. The company, which saw sales climb 84% year-over-year, beat First Call consensus estimates by two cents, but it managed to lose $89 million on the quarter. The losses fell as a percentage of revenue, from 21% of sales in 1999 to 15% for the second quarter in 2000. Now, a lot of folks see the report as negative. But, based on previous projections, the company is on plan to reach profitability late next year. Amazon added 2.5 million new customers in the quarter, down slightly from the previous quarter. The summer, however, is a slow retail season. As an investor, I would focus on the good news for Amazon: Any bricks-and-mortar retailer would have to build and support dozens of new stores to reach 2.5 million new customers. The emphasis on customer-centrism, espoused over and again by Amazon CEO Jeff Bezos, is the correct approach to building this market. As I said in a recent column, the company is making very good progress by combining a physical distribution channel, in the form of warehousing/shipping facilities in many regions, with consistently excellent service online. Amazon continues to be a good long-term investment and, after the fallout from the departure of Joe Galli, who was president and chief operating officer, along with Wednesday's ``disappointing'' earnings, it is a better bargain than ever.