Retail Roundup—Amazon's profits surpass $60B; Retail loses $107B in returns

Amazon sign on storefront
Amazon reported a profit of more than $60 billion. (Amazon)

Amazon makes a big profit

Amazon made a record amount of profit over the 2017 holiday season, bringing in $1.9 million in the final three months of the year. Overall, the entire year set records, with $60.5 billion, defying usual Amazon results where sales growth is put back into expansion, cutting quarterly profits. (The Seattle Times)

Retail loses $107B on returns

Holiday shopping returns cost the industry $107 billion per year, according to Rakuten Co. As online shopping, especially in fashion and footwear, continues to grow, retailers will need to find better ways to help consumers get the fit correct in order to keep the number of online returns from growing. (MediaPost)

Apple revenue jumps 13%

Apple announced a record quarter, with revenue up 13%, reaching $88.3 billion. International sales also reached an all-time high at 65% of the quarter's revenue. (Apple)

Bon-Ton gets bankruptcy financing

Bon-Ton Stores Inc. has secured a loan that will allow it to file for bankruptcy. The move will help the 260-store chain, which is $1 billion in debt, to operate while it seeks out a potential sale. (Reuters)