Amazon expects summer windfall on higher fees and Prime Day shopping

:Amazon.com Inc on Thursday said it expects a jump in third-quarter revenue, as the retailer collects bigger fees from Prime loyalty subscriptions and as a fuel surcharge on merchants helps it manage high delivery costs.Amazon, like much of the retailer industry, is facing a reckoning. Major rival Walmart Inc this week warned it would make much less this year than it once expected. U.S.

Chief Executive Andy Jassy said in a press release that the company is"seeing revenue accelerate as we continue to make Prime even better for members, both investing in faster shipping speeds, and adding unique benefits such as free delivery from Grubhub for a year." Still, the rosier-than-expected sales outlook comes at a precarious moment for the Seattle-based retailer. A changing of the guard has heralded the departure of Consumer CEO Dave Clark and corporate affairs head Jay Carney, as well as two of the company's most senior Black executives. A period of record profit gave way in the first quarter of 2022 to Amazon's first quarterly loss in seven years.

"Despite continued inflationary pressures in fuel, energy, and transportation costs, we’re making progress on the more controllable costs we referenced last quarter, particularly improving the productivity of our fulfilment network," Jassy said.

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