Amazon’s second-quarter sales and forecast for the current period fell short of analysts’ expectations, suggesting the biggest online retailer’s rapid growth through the pandemic is waning as people revert to old shopping habits. Shares fell more than 6 per cent in extended trading.
The Seattle-based company rallied through the pandemic as shoppers shifted much of their spending from stores to websites. Amazon invested billions on pandemic safety measures to keep operating while minimising the spread of COVID-19 through its facilities and hiring hundreds of thousands of workers to meet crushing demand.
