Tech giant has seen a shopping slump and cost increases due to inflation, labor issues and supply chain challenges
The line between Amazon and Walmart is becoming increasingly blurred, as the two companies seek to maintain their slice of the estimated $5 trillion retail market while chipping away at the other’s share, often by borrowing the other’s ideas. Photos: Amazon/WalmartAmazon.com Inc. posted its first quarterly loss since 2015 after sales growth slowed significantly in the first three months of the year and the company continued to deal with higher costs and stalled online shopping.
The tech giant posted quarterly earnings Thursday that followed a broad industry trend in which e-commerce companies have seen headwinds as consumers return to prepandemic habits and spend more money in person at stores.
Source: Energy Industry News (energyindustrynews.net)
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