Amazon.com(AMZN) reported that Black Friday sales of Kindle e-readers and Fire tablets on its site were up significantly from last year.
According to the company, Fire tablet sales on its site were up more than three times from last year, while Kindle e-reader sales grew almost four times year over year on the day.
The precise figures were not provided by the company; neither were sales of its Fire TV, Fire Stick, or Fire Phone devices mentioned.
Dave Limp, Senior Vice President of Amazon Devices seemed encouraged by the growth in tablet and e-reader sales on Black Friday and the success of product categories launched this year.
Another feather in Amazon’s cap was J.D. Power recently ranking Amazon “Highest in Customer Satisfaction with Tablets”.
Looking Ahead
The holiday season is crucial for Amazon as sales in November and December account for a major part of its annual revenues. It recently unveiled its latest-generation fulfillment center where robots, vision systems and other high-end technologies have been deployed to speed up order deliveries.
The world's largest online retailer has been striving to expand and automate its fulfillment centers around the world. These innovative technologies shorten the time taken to sort and pack products, thereby strengthening same-day or overnight delivery services. The robots will help Amazon to easily cater to the surge in demand and traffic during peak holiday season.
Amazon has a Zacks Rank #3 (Hold). Better-ranked stocks in this industry include Mercadolibre, Inc. (MELI), Overstock.com Solutions, Inc. (OSTK) and Geeknet, Inc. (GKNT). Geeknet sports a Zacks Rank#1(Strong Buy) while Mercadolibre and overstock.com hold a Zacks Rank #2 (Buy).
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