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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amazon.com, Inc.    AMZN

AMAZON.COM, INC.

(AMZN)
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Amazon pitches early holiday shopping with fall 'Prime Day' event

10/13/2020 | 06:22am EST
FILE PHOTO: A view of the Amazon fulfillment logo in Mexico City

(Reuters) - Amazon.com Inc on Tuesday began 48 hours of promotions as part of "Prime Day," a closely watched marketing event the company had postponed due to operational challenges from the coronavirus pandemic.

The event, typically held in July to boost summer sales, is now a kickoff to what will be an earlier holiday shopping season. The member-only discounts are a key way Amazon markets Prime, a fast-shipping and media-streaming service that incentivizes subscribers to do more shopping on Amazon.

Rivals Walmart Inc and Target Corp are meanwhile hosting promotions at the same time. Online sales may prove critical for retailers as the pandemic forestalls the typical crowds at stores after the U.S. Thanksgiving holiday.

At the pandemic's outset, Amazon was focused on shipping essential items to shoppers. Now its aim is to help customers with their holiday lists on Prime Day, said Jamil Ghani, a company vice president.

"It kicks off the holiday season," he told Reuters last month.

Amazon is bringing the event to Turkey and Brazil for the first time. In Latin America, Amazon has faced an uphill battle with local rivals.

A report by news site Reveal said the week around last year's Prime Day was the most dangerous for injuries at Amazon's fulfillment centers, prompting criticism by a prominent union.

"Amazon's Prime Day means more injuries and unacceptable levels of stress for its workforce," Stuart Appelbaum, president of the Retail, Wholesale and Department Store Union, said in a statement.

"During normal times it's a grueling period for workers. During a global pandemic it may well push workers beyond their limit," he said.

Amazon disputed the claims, saying employees' performance expectations and injury rates are not higher during the holiday season.

"The safety of our employees is our top priority," it said in a statement.

(Reporting by Jeffrey Dastin in San Francisco; Editing by Stephen Coates)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. 0.63% 3118.06 Delayed Quote.68.74%
EURO / BRAZILIAN REAL (EUR/BRL) 0.06% 6.4034 Delayed Quote.42.99%
TARGET CORPORATION 0.17% 177.86 Delayed Quote.38.73%
US DOLLAR / TURKISH LIRA (USD/TRY) 0.06% 7.99624 Delayed Quote.34.42%
WALMART INC. 0.28% 151.36 Delayed Quote.27.36%
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Financials (USD)
Sales 2020 380 B - -
Net income 2020 18 068 M - -
Net cash 2020 44 305 M - -
P/E ratio 2020 89,9x
Yield 2020 -
Capitalization 1 564 B 1 564 B -
EV / Sales 2020 4,00x
EV / Sales 2021 3,34x
Nbr of Employees 798 000
Free-Float 81,6%
Chart AMAZON.COM, INC.
Duration : Period :
Amazon.com, Inc. Technical Analysis Chart | AMZN | US0231351067 | MarketScreener
Technical analysis trends AMAZON.COM, INC.
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 52
Average target price 3 821,74 $
Last Close Price 3 118,06 $
Spread / Highest target 44,3%
Spread / Average Target 22,6%
Spread / Lowest Target 12,2%
EPS Revisions
Managers
NameTitle
Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Dave Clark Senior Vice President-Worldwide Operations
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Patricia Q. Stonesifer Independent Director
Thomas O. Ryder Independent Director
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