Amazon Has Escaped America’s Retail Malaise – Bloomberg

Amazon has proven it’s immune from discount-mania. But first…

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What recession?

Amazon.com Inc. on Thursday reminded investors it’s not like other retailers.

The company’s big-box competitors—like Walmart Inc., Target Corp. and Best Buy Co.—cut profit forecasts this earnings season, citing costly stockpiles of merchandise such as clothes and electronics that consumers no longer want as the economy wavers. Amazon, meanwhile, reported second-quarter revenue that beat estimates and predicted sales could rise 17% in the current quarter.

Amazon has a profitable cloud-computing business that can help shelter it from trouble in its retail divisions, but that’s only half the story. The company’s growing emphasis on third-party selling, a very different business model than the big-box…

Read Full Story: https://www.bloomberg.com/news/newsletters/2022-07-29/amazon-has-escaped-america-s-retail-malaise

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