[ad_1]
Amazon.com Inc.’s second-quarter sales and forecast for the current period fell short of analysts’ expectations, suggesting a period of rapid growth fueled by a pandemic is fading for the largest retailer in China. online as people return to their old buying habits. Shares fell about 7% on extended trading.
The Seattle-based company recovered during the pandemic as shoppers shifted much of their spending from stores to websites. Amazon has invested billions in pandemic security measures to keep operating while minimizing the spread of Covid-19 at its facilities and hiring hundreds of thousands of workers to meet the overwhelming demand. New CEO Andy Jassy, who took over from founder Jeff Bezos on July 5, must show investors he can continue the company’s rapid sales growth and rising profits amid heightened oversight of regulators in the United States and Europe.
[ad_2]
Source link