- C-store operator 7-Eleven reported that its first quarter earnings reached $20.9 million, up from $4.1 million during the same period a year ago – an increase it attributed to strong sales of fresh foods. Total revenues climbed to $2.97 billion from $2.73 billion a year ago, while same-store sales were up 4.6 percent.
- Amazon.com reported that its first quarter net income dropped 30 percent to $78 million, even as revenue rose 24 percent to $1.9 billion, giving rise to criticism from analysts that it was spending too much while making too little.
- KC's View:
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Don’t mean to blindly follow Jeff Bezos, but we have tremendous faith in his long-term strategies and understanding of what Internet commerce will mean to the next generation of consumers.
