|Amazon.com Extends E-Commerce Agreement with Target Corporation to 2008|
SEATTLE--Aug. 12, 2003--Amazon.com, Inc. (Nasdaq:AMZN) today announced an extension of its e-commerce agreement with Target Corporation (NYSE:TGT). This amended contract extends the original five-year agreement to August 2008. Under the agreement, Amazon.com provides a comprehensive e-commerce solution of technology services, order fulfillment and customer service for the Target Store at Amazon.com and Target's online properties, which include Target.com, MarshallFields.com, and Mervyns.com.
"For the past two years, Target Corporation's relationship with Amazon.com has provided our guests with superior service and an engaging online shopping experience," said Target Corporation Vice Chairman Jerry Storch. "As a result of our association with Amazon.com, we increased sales significantly year-over-year for our online properties in the first two quarters of 2003, and look forward to continuing this success."
"We're excited that Target chose to extend our partnership," said Amazon.com Founder and CEO Jeff Bezos. "We've worked hard on our e-commerce platform and look forward to continue bringing a best-of-breed e-commerce experience to Target's guests."
Amazon.com and Target unveiled Target.com last summer, integrating offerings from Target, Marshall Field's, Mervyn's and Amazon.com. The site includes Amazon.com's personalization, product recommendations, search functionality, 1-Click(R) shopping, and a single checkout. Earlier this year, Amazon.com and Target integrated baby and wedding registries from Target's stores with its online properties and the Amazon.com platform. Additionally, Amazon.com provided enhanced tools that enable Target to better manage site content and merchandising. Amazon.com and Target opened the Target Store at Amazon.com in October of 2001.
Amazon.com, a Fortune 500 company based in Seattle, opened on the World Wide Web in July 1995 and today offers Earth's Biggest Selection. Amazon.com seeks to be Earth's most customer-centric company, where customers can find and discover anything they might want to buy online, and endeavors to offer its customers the lowest possible prices. Amazon.com and other sellers list millions of unique new and used items in categories such as apparel and accessories, electronics, computers, kitchenware and housewares, books, music, DVDs, videos, cameras and photo items, toys, baby items and baby registry, software, computer and video games, cell phones and service, tools and hardware, magazine subscriptions and outdoor living items.
Amazon.com operates six Web sites: www.amazon.com, www.amazon.co.uk, www.amazon.de, www.amazon.fr, www.amazon.co.jp and www.amazon.ca.
This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results may differ significantly from management's expectations. These forward-looking statements involve risks and uncertainties that include, among others, risks related to potential future losses, significant amount of indebtedness, competition, commercial agreements and strategic alliances, seasonality, potential fluctuations in operating results and rate of growth, foreign exchange rates, management of potential growth, system interruption, international expansion, consumer trends, inventory, fulfillment center optimization, limited operating history, government regulation and taxation, fraud, and new business areas. More information about factors that potentially could affect Amazon.com's financial results is included in Amazon.com's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the year ended December 31, 2002, and all subsequent filings.