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Amazon’s big miss and modest outlook
Amazon.com may have achieved record fourth-quarter sales of $25.6 billion, but its top line was well below what analysts expected and so were profits.
The company’s sales increased 20% to $25.6 billion during the fourth quarter ended Dec. 31, compared to $21.3 billion the prior year. Analysts had forecast sales of slightly more than $26 billion. Meanwhile, Amazon said it earned profits of $239 million, or 51 cents a share, well ahead of prior year figures of $97 million and 21 cents a share, but substantially below the 74 cents analysts were expecting.
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Net loss grows on lower sales at The Pantry
Cary, N.C. – The Pantry, Inc. reported a net loss of $5.1 million in its first quarter of fiscal 2014, up from a net loss of $3.1 million the first quarter of the prior fiscal year. Revenues fell 5% to $1.8 billion from $1.9 billion, although same-store sales rose 3.5%.
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