FILE IMAGE. The Amazon logo at the JFK8 distribution center in Staten Island, New York, USA. November 25, 2020. REUTERS / Brendan McDermid
Oct 28 (Reuters) – Amazon.com Inc on Thursday forecast sales for the Christmas quarter well below Wall Street expectations as a tight labor market and tight supplies make it difficult for retailers to keep their shelves stocked, which that made its shares fall by about 3%.
The e-commerce giant expects fourth-quarter sales to be between $ 130 billion and $ 140 billion. Analysts were expecting $ 142.05 billion, according to IBES data from Refinitiv.
Retailers are facing a shortage of supplies of everything from toys, Nike shoes to laptops, making it difficult for them to stock their shelves for the holiday season.
Amazon also failed to meet expectations for third-quarter sales, which grew at the slowest pace since the start of the COVID-19 outbreak, as consumers returned to stores after shopping online from home for more than a year. .
Total net sales were $ 110.81 billion in the third quarter, ended September 30, compared to $ 96.15 billion a year earlier.
Analysts had forecast $ 111.6 billion, according to IBES data from Refinitiv.
(Report by Nivedita Balu in Bengaluru; Edited in Spanish by Javier López de Lérida)