#AmazonSales #Olympics2024 #TrumpIncident
Amazon Says Distraction of Olympics and Trump Shooting Caused Weak Guidance
Amazon attributed its weak guidance to the distraction caused by the Olympics and the Trump shooting incident. This unexpected combination of events led to a significant drop in consumer spending, impacting the company’s sales projections.
The e-commerce giant cited the unusual convergence of these two major events as the primary reason for its weaker-than-expected guidance. The Olympics, which took place in July and August, drew significant attention from consumers, while the Trump shooting incident in July also dominated the news cycle. This dual distraction resulted in a substantial decrease in online shopping activity, ultimately affecting Amazon’s sales.
Amazon’s stock, $AMZN, took a hit as a result of this guidance, reflecting the company’s concerns about the impact of these events on consumer behavior. The company’s ability to adapt to such unforeseen circumstances will be crucial in maintaining its market position.
Original Article: https://www.cnbc.com/2024/08/01/amazon-says-distraction-of-olympics-trump-shooting-caused-weak-guide.html
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