Amazon’s annual two-day Prime Day shopping extravaganza starts Monday at midnight Pacific time.
It’s the first time the event takes place in June. Launched in 2015, Prime Day was a July event through 2019, intended to bolster consumer online shopping during the slower summer months. Last year, during the pandemic, Amazon.com (ticker: AMZN) moved the event to mid-October, turning what had been a midyear shopping push into a preholiday sale.
Amazon said this year’s event would feature two million deals for shoppers in 20 countries. Due to Covid-19 issues, Prime Day has been postponed in Canada and India. This year’s event includes a three-part musical performance series featuring Billie Eilish, H.E.R., and Kid Cudi, which launched on Thursday. A Prime membership isn’t required to view the event.
While Prime Day might be a big deal for bargain hunters, it’s generally a nonevent for investors. At the end of each Prime Day sale, Amazon typically issues a press release with notable sale milestones, without providing any actual financial details. Lacking hard information, investors tend to parse the language in each year’s release like cultural anthropologists. Last year, for the first time, Amazon didn’t claim it was the largest shopping event in company history, triggering some nervous selling in the stock.
In projecting second-quarter financial results, Amazon said its forecast assumed that the quarter would include Prime Day. The company’s guidance calls for June quarter revenue of $110 billion to $116 billion—up nearly 30% from a year earlier—with operating income ranging from $4.5 billion to $8 billion. Amazon said the June quarter forecast includes an expected $1.5 billion in Covid-19 related costs.
Amazon shares were essentially flat Friday, closing at $3,486.90; the stock is up about 7% year to date versus a 12% gain for the S&P 500.
Write to Eric J. Savitz at eric.savitz@barrons.com
"much" - Google News
June 21, 2021 at 02:00AM
https://ift.tt/3vICdaE
Amazon Prime Day Will Have Plenty of Deals but Not Much for Investors - Barron's
"much" - Google News
https://ift.tt/37eLLij
Shoes Man Tutorial
Pos News Update
Meme Update
Korean Entertainment News
Japan News Update
Bagikan Berita Ini
0 Response to "Amazon Prime Day Will Have Plenty of Deals but Not Much for Investors - Barron's"
Post a Comment