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Business

Amazon's German Business Booming

Online retailer Amazon.com on Friday reported growth of more than 60 percent in Germany in the final quarter of 2002, despite miserable economic conditions. Amazon's German manager, Ralf Kleber, called the results the "happiest quarter results in our eight year history," during a Hamburg press conference announcing the figures. The electronics, music and book retailer bucked a Germany-wide trend showing only every fourth online retailer in the black, according to the German Retailers Association (HDE). Worldwide, with total fourth-quarter sales of $1.4 billion, Amazon.com's profits were down $5 million from the same time last year.