Amazon increases profits despite global credit crunch

Amazon, the popular online retailer, enjoyed a 9% rise in profits over the festive season despite the global credit crunch, raking in over $225m in profits during the last three months of 2008.

While many high street shops have been badly hit by the global recession it looks as if consumers have decided that it pays to shop online with Amazon's sales figures predicted to rise in 2009.

The popular internet store used to specialize in books, but has expanded into areas as diverse as jewellery and electronic equipment. Strangely while many retail shops are struggling to shift stock at bargain basement prices, Amazon are selling products at full price and still managing to earn a profit.

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