K. Bell@karissabe April 28th, 2022
What a difference a year can make. Roughly one year after pandemic-fueled buying spree pushed Amazon profits to new highs, the retail giant’s growth has now stalled to its slowest rate in more than two decades.
The company reported $116.4 billion in sales for the first quarter of 2021, an increase of just 7 percent from last year. That stands in stark contrast to the 44 percent jump it saw this time last year. It’s also the slowest single-quarter growth the company has seen since 2001, according to CNBC. Amazon lost $3.8 billion this quarter, its first loss since 2015.
