Amazon Prime Day gets new date
Amazon's Prime Day will again focus on small business
Look into consumer cyclical stocks, housing stocks: Strategist
Cornerstone Macro chief investment strategist Michael Kantrowitz on inflation, the latest employment numbers, consumer spending, economic growth and the markets.
Amazon's highly anticipated two-day shopping bonanza for Prime members is back this summer and it's getting a new date yet again.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| AMZN | AMAZON.COM INC. | 207.89 | +2.15 | +1.05% |
"We are excited to announce that we will hold the two-day savings event during the second quarter," Amazon Chief Financial Officer Brian Olsavsky said during the company's earnings call on Thursday.
Although Olsavsky declined to give an exact date, he noted it will likely fall toward the latter end of the quarter which would indicate a June date while promising to share more details soon.
Bumping up the date is likely to help the world's largest retailer.
"There are a number of factors, the Olympics, which are still out there this year. In fact, in some -- many areas, July is a big vacation month," he said. "So, it might be better to have -- for customers, sellers and vendors to experiment with a different time period" Olsavsky noted.
CLICK HERE TO READ MORE ON FOX BUSINESS
Representatives for Amazon did not immediately respond to FOX Business' request for comment to confirm the exact date.
AMAZON MAY BUMP UP PRIME DAY DATE: REPORT
An Amazon Prime day logo seen displayed on a smartphone. (Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images)
The two-day event has typically held every July since 2015. However, the shopping event was delayed by several months as a result of the COVID-19 pandemic.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
Instead, it took place in October right in the midst of the extended holiday shopping season. Despite the delay, it marked the two biggest days for small and medium businesses across the world surpassing $3.5 billion in sales, the company disclosed.
"Prime Day is also a great opportunity for our selling partners to reach more customers and will make supporting small businesses a big focus again this year," Olsavsky said.
