Skip navigation

Gloucestershire Business News

Amazon predicts weaker Christmas sales

Online retail giant Amazon has returned to profitability after two consecutive quarters of losses, but shares have fallen.

The retailer's shares plummeted by 18 per cent, due to weaker than expected sales, as reported by Retail Gazette.

Amazon reported revenue of $127.1 billion (£109.99 billion) for the three months to 30 September 30, slightly down on the $127.4 billion (£110.25 billion) analysts predicted.

In the past two quarters, the retailer's sales have grown at around seven per cent, its slowest in nearly 20 years.

Amazon expects revenue for the current quarter, including key Christmas trading, to be between $140 billion (£121.16 billion) and $148 billion (£128.08 billion), a growth of between two and eight per cent on the same quarter last year.

Amazon said that, despite the current economic challenges, it will continue to focus on customer experience for the Christmas shopping season.

Related Articles

Walkout Wednesday: Businesses and families hit by strikes Image

Walkout Wednesday: Businesses and families hit by strikes

Up to half a million workers are walking out today in the biggest day of strikes for years.

BBC staff to hold ballot over local radio cutbacks Image

BBC staff to hold ballot over local radio cutbacks

BBC journalists are to vote on industrial action in a dispute over planned changes to local radio programming.

Business confidence in South West in positive territory Image

Business confidence in South West in positive territory

A monthly Business Barometer in the South West has provided 'grounds for optimism'.

Fly-tipping figures ‘fail to reflect full scale of crime’  Image

Fly-tipping figures ‘fail to reflect full scale of crime’

The number of fly-tipping incidents across nine regions in the South West has soared in the past year, according to the latest figures.

Copyright 2023 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.