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Jan 30 2013
In a statement accompanying its fourth quarter and full year results for 2012, Amazon founder Jeff Bezos summed up where he sees the future of book retailing heading - especially for his company. "We're now seeing the transition we've been expecting," said Bezos. "After 5 years, eBooks is a multi-billion dollar category for us and growing fast - up approximately 70% last year. In contrast, our physical book sales experienced the lowest December growth rate in our 17 years as a book seller, up just 5%."
For the full year, net sales increased 27% to $61.09 billion, and Amazon reported a net loss of $39 million compared with net income of $631 million in 2011.
L.A. Women by Ella Berman
Two ambitious writers in 1960s LA face betrayal when one writes a novel based on the other's life.
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