SAN FRANCISCO: Amazon.com Inc on Thursday said sales growth would decelerate in the third quarter as customers leave their homes more, a slow start to the reign of CEO Andy Jassy as investors weigh if he can steer the retailer as deftly as Jeff Bezos did for 27 years. Shares fell 5% in after-hours trade.
Last year, many consumers were at home due to the COVID-19 pandemic, making for a tough comparison this quarter, said Chief Financial Officer Brian Olsavsky on a call with reporters. In addition, customers are going out more and doing less online shopping.
The company is working to get employees vaccinated but did not announce any mandates. Amazon has not made any assumptions about rising COVID cases globally from the more contagious Delta variant but hopes the virus is eliminated and the economy continues to come back.
The top job Jassy inherited on July 5 has never been bigger and more complex. Last quarter Amazon announced a deal to buy the film studio MGM for $8.5 billion, expanding in Hollywood at the same time as it is running a grocery chain, building a healthcare business and facing scrutiny from regulators worldwide.
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