THE RETAIL BULLETIN - The home of retail news
20 years serving the retail industry
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
Retail HR 2022
THE Retail Conference 2022
Retail Women In Leadership 2022
Digital Transformation Strategy 2022 Part 2
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Amazon posts second quarterly loss in a row

Amazon has posted a second quarterly loss in a row although its sales beat expectations in the period. In the three months to 30 June, the… View Article

GENERAL MERCHANDISE

Amazon posts second quarterly loss in a row

Amazon has posted a second quarterly loss in a row although its sales beat expectations in the period.

In the three months to 30 June, the online retail giant reported a net loss of $2 billion compared to a profit of $7.8 billion in the corresponding period in 2021.

This follows a $3.8 billion loss in the previous quarter.

Its second quarter figures also reveal that Amazon’s net sales increased by 7% to $121.2 billion from $113.1 billion a year earlier.

Andy Jassy, Amazon chief executive, said: “Despite continued inflationary pressures in fuel, energy, and transportation costs, we’re making progress on the more controllable costs we referenced last quarter, particularly improving the productivity of our fulfilment network.

“We’re also seeing revenue accelerate as we continue to make Prime even better for members, both investing in faster shipping speeds, and adding unique benefits such as free delivery from Grubhub for a year, exclusive access to NFL Thursday Night Football games starting September 15, and releasing the highly anticipated series The Lord of the Rings: The Rings of Power on 2 September.”

Amazon is expecting third quarter net sales to come in at between $125 billion and $130 billion, or to grow between 13% and 17%, compared with the third quarter of 2021.

 

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News