Jul 29, 2021

Amazon predicts slower sales growth as Covid boost eases

Amazon has predicted slower sales growth in the third quarter as a boost from the Covid pandemic subsides. Earlier in the Covid pandemic Amazon posted record profits, signed up more than 200 million customers to its Prime service, and recruited more than 500,000 workers to keep up with surging demand. Amazon's net sales rose to $113.08bn in the second quarter to 30 June from $88.91bn in the same period a year earlier. North America, Amazon's largest market, saw sales increase 22% in the second quarter, versus 43% in the same period a year earlier. Y Jassy took on role, after previously being in charge of Amazon's cloud computing division, Amazon Web Services.

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