Cost of sales hit

<p> founder and c.e.o. Jeff Bezos has said that the company plans to reduce its spending on technology after a rise in the cost of sales led to a fall-off in operating profits at its businesses, including its international websites.</p><p>Sales increased 22% to $2.14bn in the second quarter to 30th June 2006, but operating income decreased 55% to $47m, compared with $104m the year earlier. </p><p> blamed the decline on technology and content investments, and lower prices including free shipping and Amazon Prime. The group was also hit buy a $20m cost from the termination...

This is subscriber-only content

Not a subscriber? Get unrestricted access to all the news, charts, previews, data & analysis by subscribing from as little as £3 per week.

Why Subscribe?

Every issue of The Bookseller magazine

Unlimited access to (single user)

The Bookseller e-edition app for tablet and mobile

Subscriber-only newsletters

Twice yearly Buyer's Guides worth £50

Discounts on The Bookseller Awards and Conferences

Click here to subscribe now