Amazon increases sales targets as profits double

Online retailer Amazon raised its sales forecasts for the year after it doubled its quarterly profits haul amid strong sales in the United States and overseas, it emerged today.

The company posted profits of $111m (€81m), up by 115%, as sales rose 32% to $3.02bn (€2.2bn) in the three months to March 31.

The retailer said it now expected to see growth of between 25% and 31% over 2006, compared with expectations of a 21% to 28% rise forecast by the company in February.

Online retailer Amazon raised its sales forecasts for the year after it doubled its quarterly profits haul amid strong sales in the United States and overseas, it emerged today.

The Catherine Tate Comic Relief Special, sold exclusively on Amazon.co.uk, became the fastest selling DVD of all time, while the last in JK Rowling’s series, Harry Potter and the Deathly Hallows, sold more than 100,000 pre-order copies in the first two days of sale.

The retailer, which did not provide a breakdown of the UK results, said the warm weather led to a strong demand for cycles at its sports & leisure store, launched in March.