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Amazon reports uptick in fourth-quarter sales

Amazon reports uptick in fourth-quarter sales
08 Feb 2022

The company’s net income in the quarter almost doubled from $7.2bn (£5.3bn) to $14.3bn (£10.6bn) from a year earlier.

Full-year 2021 net sales grew by 22% to $469.8bn (£347bn) compared with $386.1bn (£285bn) in 2020, despite global supply chain disruption.

The company’s net income for the full year increased by $33.4bn from $21.3bn (£24.6bn) a year earlier, while its earnings per share (EPS) were $64.8 (£47) compared with $41.83 (£30.9) in the prior year.

Its operating income also rose from $22.9bn (£17bn) in 2020 to $24.9bn (£18.4bn) in 2021.

Amazon expects its net sales for Q1 2022 to grow by between 3% and 8%, putting them at between $112bn (£82.7bn) and $117bn (£86.4bn).

Last month, Amazon announced that its first physical apparel store, Amazon Style, will open later this year at The Americana at Brand in Glendale, California. The store will offer women’s and men’s clothing, shoes and other accessories from several brands.

Amazon CEO Andy Jassy said: “As expected over the holidays, we saw higher costs driven by labour supply shortages and inflationary pressures, and these issues persisted into the first quarter due to Omicron.

“Despite these short-term challenges, we continue to feel optimistic and excited about the business as we emerge from the pandemic.”

BY ISABELLA FISH

Source: Drapers

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