(Reuters) - Amazon.com Inc (AMZN.O) forecast holiday season sales and profit that missed Wall Street targets on Thursday, projecting revenue growth that would be the slowest in years, sending shares of the world’s largest online retailer down 8 percent in after-hours trade. Amazon’s third-quarter sales lagged estimates as well. Analysts said international results were disappointing and online competition was increasing. The company blamed accounting changes and cautioned that it was being conservative with its outlook. For years, Amazon has made expensive bets on new technology and programs, like its $13.7 billion acquisition of Whole Foods in 2017 to storm the U.S. grocery industry. That has resulted in rollercoaster profits in the past, but revenue has largely grown at a breakneck pace as consumers shifted shopping online and away from brick-and-mortar stores. “Weak revenue growth stuck out like a sore thumb,” said George Salmon, analyst at Hargreaves … [Read more...] about Amazon’s holiday season sales outlook misses views; shares sink
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(Reuters) - Amazon.com Inc (AMZN.O) forecast disappointing holiday season sales on Thursday, projecting its fourth-quarter revenue growth would be the slowest in years, sending shares of the online retailer down 6 percent in after-hours trade. A logo of the Amazon fulfillment is seen outside the Amazon fulfillment center in Kent, Washington, U.S., October 24, 2018. REUTERS/Lindsey Wasson Third-quarter sales also missed analyst estimates, and Amazon forecast operating income for the fourth quarter below estimates. The outlook marks a potential change for Amazon, which has posted consistent and strong revenue increases for years. The retailer is preparing for its busiest time of year, the holiday shopping season that runs from around the U.S. Thanksgiving holiday in late November through New Year’s. It forecast that fourth-quarter sales will rise between 10 percent and 20 percent, or up to $72.5 billion. Analysts were expecting $73.9 billion, according to Refinitiv … [Read more...] about Amazon projects holiday season sales below Wall St. targets
NEW YORK (Reuters) - Target Corp, aiming to one-up retail rivals during the upcoming U.S. holiday shopping season, said on Tuesday it was adding more delivery and pickup options for online shoppers to have items shipped to their homes or ready for quick pick-up at a local store. A women enters Target after it opened on the Thanksgiving Day holiday in Burbank, California, November 22, 2012. REUTERS/Jonathan Alcorn The Minneapolis-based retailer will offer free two-day shipping on hundreds of thousands of items from Nov. 1 to Dec. 22 with no order minimum or membership required. Target had announced the shipping service in March for shoppers who spend over $35 or use a loyalty card. Target will also expand its Drive Up Service, where customers place orders online and have packages bought to their cars by the retailer’s employees, to nearly 1,000 stores by the end of October, ahead of schedule. Target’s two-day shipping option is less expensive than Amazon.com … [Read more...] about Target expands delivery, pickup options ahead of U.S. holiday season
Custora's E-Commerce Pulse tracked over 200 online retailers, 500 million anonymous shoppers and over $100 billion in revenue to determine that iOS controlled a hefty 77% of U.S. online sales during November. Android users accounted for 23% of such purchases. Despite that huge gap, it was the Android OS that gained online sales during 2015, adding 3 percentage points to the 2014 figure of 20%. Apple dropped 2 percentage points and the "others" category lost 1pp.A similar breakdown was spotted on Black Friday and Cyber Monday. The Friday following Thanksgiving saw 78% of online orders placed over an iPhone or iPad, while Android phones and tablets were the source for 22% of online orders made on that day. The following Monday, Cyber Monday, the numbers were 76% and 24% for iOS and Android, respectively.Stateside consumers continue to favor using a desktop machine to do their online shopping. During November, 70% of online purchases were made on a PC. 11% used a tablet, and 20% of online … [Read more...] about Report: Apple’s iOS is responsible for 77% of November’s online sales in the U.S.
Everyone has barely had enough time to recover from Black Friday. Now, today is Cyber Monday which means that you should be able to find a ton of products on sale online. As it turns out, shopping on mobile handsets and tablets was already extremely popular this past weekend; the top 100 stateside retailers as reported by Adobe Analytics rang up a record $7.9 billion in online sales during Black Friday and Thanksgiving. Sounds like retailers ended up with the larger half of the wishbone as those sales were up 17.9% year-over-year. Adobe says that today will set a new record for the most online sales on a single day in U.S. shopping history. Adobe predicts that $6.6 billion in merchandise will get rung up in cyberspace today, with the vast majority of sales being made on smartphones and tablets. Even though some stores offered gifts or last minute discounts to Black Friday shoppers who actually made an appearance inside a store, parking spots at shopping malls were plentiful as shoppers … [Read more...] about Mobile shopping expected to drive record online sales figures today for Cyber Monday in the U.S.