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Reuters | Amazon sales up, holiday sales down 5%

NEW YORK Reuters – Online retailer Amazon.com Inc AMZN.O said on Friday it posted its best holiday sales season yet, even as sales and traffic at U.S. store chains were the weakest in decades.

Shares in Amazon rose 1 percent in pre-market trading on Friday. Analysts have pointed to Amazon as a rare bright spot in this years holiday shopping season due to its scale and flexibility, as retailers try to outdo each other with deep discounts to lure consumers during a recession.

Online sales were also helped by winter storms that hit large sections of the United States on the last major shopping weekend before Christmas.

Amazon said more than 6.3 million items were ordered on its site worldwide for the peak shopping day of December 15.

via Amazon claims record holiday orders in 08 season | Reuters .

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This entry was posted on December 26, 2008 by in Financial Markets, US and tagged , , , .

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