Amazon has reported a 43 per cent rise in revenues for the first quarter, fuelled by online shopping in the US.

Sales at the online retail giant rose to £36.6bn in the three months to March, as reported by the BBC.

The company also said that its profit more than doubled, sending its share price to a new high. And it expects profit and revenue to continue to grow in the second quarter.

Over the three months to March, Amazon's net profit rose to £1.16bn from £524m in the same period last year.

Amazon reported that sales from its North American business rose to £22.2bn compared to £15.13bn in the first quarter last year.

Its profit also leapt to £800m from £431.3m previously.

Punchline said: "It's not just in the US that Amazon is making big money. The company has changed the way consumers in the UK shop and now we are seeing the fall-out from that, with chains like Toys R Us and Maplin going into administration and companies like New Look forced to close stores and make staff redundant. If you value the choice and personal service available on the high street, it's time to cut the Amazon habit and get back out to the shops."

What do you think? Email mark@moosemarketingandpr.co.uk