Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

AMAZON.COM, INC.

(AMZN)
  Report
Real-time Estimate Cboe BZX  -  11:28:46 2023-01-31 am EST
102.98 USD   +2.42%
10:51aAmazon Web Services - Zurich Selects AWS to Accelerate Digital Transformation and Deliver New Customer Experiences at Scale
AQ
10:19aAmazon Says Renewable Energy Capacity Grew by 8.3 Gigawatts in 2022
MT
09:25aBuilt Technologies Names James Chen as Chief Technology Officer
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisionsFunds 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Muted Black Friday for U.S. retail stocks as holiday shopping kicks off

11/25/2022 | 10:51am EST

NEW YORK, Nov 25 (Reuters) - U.S. retail stocks held steady on Friday as investors watched holiday spending to gauge consumer confidence at a time when inflation and rising interest rates are weighing heavily on Main Street.

Consumer discretionary stocks, measured by the S&P 500 Consumer Discretionary sector which benefits from spending on retail, restaurants and vacations, edged up less than 0.1%.

Stocks were muted as crowds were thin on what has historically been the busiest shopping day of the year.

"If Black Friday shopping takes a hit this year, it won't bode well for the rest of the holiday period which is so important to retailers," said Craig Erlam, senior market analyst at Oanda.

Consumer discretionary stocks are down nearly 32% year to date, more than double the 15.5% decline in the broad S&P 500 , as consumers have been walloped by surging inflation and the swiftest increase in interest rates since the 1970s.

"These stocks are a clue as to how fast the economy is slowing and whether slowing inflation is lifting confidence on Main Street," said Jim Paulsen, chief investment strategist at the Leuthold Group.

Ralph Lauren Corp, VF Corp and Autozone Inc led the sector's slim gain on Friday, each adding more than 1.7% compared with a less than 0.1% loss in the benchmark S&P 500.

Consumers spent a record $5.29 billion online on Thanksgiving Day, according to Adobe Analytics data, up 2.9% from a year ago, driven by big discounts in categories such as toys and electronics.

The steepest Black Friday deals, named for the day after the Thanksgiving holiday, were for toys, peaking at 34% off listed price, electronics and computers.

U.S. consumer prices rose at a slower pace than economists had expected in October, pushing the annual increase below 8% for the first time in eight months and helping spark a broad U.S. stock market rally on hopes that inflation had finally peaked after hovering near 40-year highs.

Overall, the National Retail Federation, a trade group, forecasts that holiday sales, including e-commerce, will rise between 6% and 8% to between $942.6 billion and $960.4 billion during November and December. That would come in below last year's 13.5% jump and the 9.3% gain in 2020.

Retailers began offering unusually early discounts this year.

Target Corp, Kohls Corp and Amazon.com Inc ran early Black Friday deals that discounted toys and some other goods by as much as 50%.

Those companies did not respond to requests for comment.

Even with steep discounts, consumers will have to spend more for popular products like a PJ Masks toy car or Mattel Inc's Mega Hauler semi-truck because prices have risen faster than promotions, according to data provided by DataWeave.

Mattel did not respond to a request to comment.

Shoppers are being wooed as the closely followed University of Michigan consumer sentiment poll was revised up Wednesday to up to 56.8 from 54.7, beating the consensus expectation of 55.0 but still below the 59.9 in October. Expectations for purchasing long-lasting manufactured goods fell 21% due to high interest rates and high prices, the survey found.

"The sentiment data has been sliding sideways as consumers try to reconcile solid economic and labor market conditions against expectations of a recession and harmful inflation," said Thomas Simons, an economist at Jefferies LLC.

(Reporting by David Randall; Editing by Nick Zieminski, Anna Driver and Richard Chang)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ADOBE INC. 0.94% 367.13 Delayed Quote.10.16%
AMAZON.COM, INC. 2.42% 103 Delayed Quote.19.70%
AUTOZONE, INC. -0.30% 2421.41 Delayed Quote.-3.93%
KOHL'S CORPORATION 1.94% 32.0305 Delayed Quote.24.44%
MATTEL, INC. 0.76% 20.5 Delayed Quote.14.01%
RALPH LAUREN CORPORATION 1.05% 123.16 Delayed Quote.15.32%
TARGET CORPORATION 0.82% 170.14 Delayed Quote.13.06%
THE9 LIMITED 9.16% 1.43 Delayed Quote.131.04%
VF CORPORATION 1.76% 30.65 Delayed Quote.9.09%
All news about AMAZON.COM, INC.
10:51aAmazon Web Services - Zurich Selects AWS to Accelerate Digital Transformation and Deliv..
AQ
10:19aAmazon Says Renewable Energy Capacity Grew by 8.3 Gigawatts in 2022
MT
09:25aBuilt Technologies Names James Chen as Chief Technology Officer
AQ
08:41aAmazon.com's Whole Foods Asks Suppliers to Cut Prices
MT
08:33aAmazon's Whole Foods Reportedly Asks Suppliers to Cut Costs
MT
06:02aAmazon Sets a New Record for Most Renewable Energy Purchased by a Single Company
BU
06:01aMarketmind: 'Soft landing' or 'no landing'?
RE
05:19aAmazon Web Services, Zurich Insurance Group Enter Multi-Year Collaboration on IT Infras..
MT
03:50aRussian court fines Amazon's Twitch $57,000 over Ukraine content
RE
03:02aZurich Selects AWS to Accelerate Digital Transformation and Deliver New Customer Experi..
BU
More news
Analyst Recommendations on AMAZON.COM, INC.
More recommendations
Financials (USD)
Sales 2022 511 B - -
Net income 2022 -1 079 M - -
Net cash 2022 19 711 M - -
P/E ratio 2022 -929x
Yield 2022 -
Capitalization 1 026 B 1 026 B -
EV / Sales 2022 1,97x
EV / Sales 2023 1,78x
Nbr of Employees 1 608 000
Free-Float 85,8%
Chart AMAZON.COM, INC.
Duration : Period :
Amazon.com, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMAZON.COM, INC.
Short TermMid-TermLong Term
TrendsBullishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 52
Last Close Price 100,55 $
Average target price 135,84 $
Spread / Average Target 35,1%
EPS Revisions
Managers and Directors
Andrew R. Jassy President, Chief Executive Officer & Director
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Jeffrey P. Bezos Executive Chairman
Patricia Q. Stonesifer Independent Director
Jonathan Jake Rubinstein Lead Independent Director
Sector and Competitors
1st jan.Capi. (M$)
AMAZON.COM, INC.19.70%1 025 776
JD.COM, INC.6.59%93 664
COUPANG, INC.13.60%29 175
JD HEALTH INTERNATIONAL INC.-8.20%26 586
ETSY, INC.12.46%16 930
ALIBABA HEALTH INFORMATION TECHNOLOGY LIMITED6.02%12 158