Report: Amazon’s Prime Day To Be Pushed To September

TOPLINE

Amazon has decided to reschedule its annual Prime Day sales extravaganza to September, the Wall Street Journal has reported, as the Covid-19 pandemic increases demand on the company’s warehouses.

KEY FACTS

KEY BACKGROUND

Amazon revenue jumped in the first quarter to $75.5 billion thanks to a rush of online orders as much of the world’s population found themselves under stay-at-home orders. However, increases in the cost of hiring, hazard pay and shipping put a dent in profits and Amazon’s net income fell nearly 30% compared to last year, causing the giant to fall short of its earnings targets, according to The Wall Street Journal.

TANGENT

Amazon’s billionaire CEO Jeff Bezos has come under fire after reports emerged that the company has disciplined and even fired workers who raised concerns about health and safety in company warehouses during the pandemic. At least seven Amazon employees have died of Covid-19. 

FURTHER READING

Amazon Targets Fall for Prime Day as it Tries to Return to Pre-Pandemic Operations (Wall Street Journal)

Amazon Prime Day will reportedly be in September — 2 months later than usual (Business Insider)

Dow Jumps Nearly 400 Points As Amazon And Facebook Hit New Record Highs (Forbes)

The World’s Largest Retailers 2020: Walmart, Amazon Increase Their Lead Ahead Of The Pack (Forbes)