Amazon.com had first quarter net sales of $700.3 million, up 22% from $573.9 million in first-quarter 2000. The Seattle-based online retailer cut its net loss from $308.4 million to $234.1 million. The quarter ended March 31.
The current net loss figure includes a one-time $114 million charge stemming from restructuring, layoff expenses and consolidation of its fulfillment and customer service centers. But Amazon was able to shrink its fulfillment costs from $99.5 million in first-quarter 2000 to $98.2 million in first quarter 2001, and marketing costs from $40.6 million a year ago to $36.6 million during the quarter just ended.
While these may seem like small reductions, as percentages of its net sales the fulfillment expenditures fell from 17.3% to 14%, and the marketing costs dropped from 7.1% to 5.2%.
“We are on track to reach our objective of pro forma operating profitability in the coming December quarter,” said Warren Jenson, Amazon.com
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