Amazon Schools Bears Anew
Updated from 9:16 a.m. EDT
For an affable guy with a slight build, Jeff Bezos looks like the unlikeliest of bear wrestlers. Yet the Amazon.com(AMZN Quote) CEO has again gone to the mat with the bears and knocked the wind out of them.
When the tech bubble was crashing a few years ago, many expected Amazon to crumble. Instead, it posted its first profit in 2003. When Amazon announced free three-day shipping for orders over $25, bears again warned it would weigh the company down. Instead, it built customer loyalty in an increasingly competitive marketplace.
Earlier this year, Amazon caused a lot of head-wagging when it debuted Amazon Prime, which for a $79 annual fee gives free two-day shipping, or overnight shipping for $3.99. But Amazon's second-quarter report showed not only was revenue stronger than analysts' forecasts, but operating margins were healthier than most were expecting. ...
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