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

To: Glenn D. Rudolph who wrote (36980)	1/26/1999 9:27:00 PM
From: MoonBrother	Read Replies (1) \| Respond to of 164684

Amazon.com sees sequential growth in Q1 Tuesday January 26, 8:13 pm Eastern Time SEATTLE, Jan 26 (Reuters) - Amazon.com Inc. Chief Financial Officer Joy Covey said Tuesday the online retailer expects first-quarter sales to be higher than the record $253 million posted in the fourth quarter. ''At this time we do anticipate some sequential growth in Q1,'' she said in a conference call with analysts that was broadcast over the Internet. ''It's too early to say whether this will be anything more than slight growth.'' She said she expected the sales growth even though January sales were likely to be down ''markedly'' from the seasonally strong December revenues, which rose to as high as $6 million on the peak sales day. Covey also said 25 percent of the company's sales in the fourth quarter came from new businesses including video, music, gifts and subsidiary online stores in Germany and Britain. Core book sales from the company's flagship ''dot.com'' Web site were profitable in December, she said. The conference call was peppered with cautionary remarks from Covey and Chief Executive Officer Jeff Bezos, who said the upcoming year will be ''pivotal'' as the company invests aggressively to take advantage of new business opportunities and position itself to become a ''multibillion-dollar company with tens of millions of customers.'' He said the company likely will announce plans for ''one or more'' additional distribution centers in coming months to join its forthcoming Nevada site, which will be by far its largest. ''We prefer to err on the side of overcapacity,'' he said. And he said the company will be expanding its systems capacity to handle more customers as well as rolling out new products. He declined to be specific but indicated that for some product categories Amazon.com would choose partners. ''We'd like to be our customers' first choice for finding and discovering anything that they might want to buy online,'' he said.