×
By
Reuters API
Published
Oct 29, 2021
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Amazon's holiday-quarter forecast disappoints as labor, supply issues mount

By
Reuters API
Published
Oct 29, 2021

Amazon.com Inc on Thursday forecast holiday-quarter sales well below Wall Street expectations, as a tightening job market and supply shortages make it difficult for retailers to keep their shelves stocked, sending its shares down about 3%.


Total net sales rose to $110.81 billion in the third quarter ended Sept. 30, from $96.15 billion, a year earlier - Reuters


The e-commerce giant forecast fourth-quarter sales to be between $130 billion and $140 billion. Analysts were expecting $142.05 billion, according to IBES data from Refinitiv.

Retailers are facing supply shortages of everything from toys, Nike sneakers to laptops, making it difficult for them to stock up their shelves for the holiday season.

Amazon also missed expectations for third-quarter sales, which grew at their slowest pace since the COVID-19 outbreak, as consumers returned to stores after shopping online from their homes for over a year.

Total net sales rose to $110.81 billion in the third quarter ended Sept. 30, from $96.15 billion, a year earlier.

Analysts had predicted $111.60 billion, according to IBES data from Refinitiv.

© Thomson Reuters 2022 All rights reserved.