Back-To-School Shopping Is More Expensive Than Ever

Brahm Buck
  • Back-to-school shopping is getting underway in the US, and families are preparing for a bigger bill.
  • Grade-school families plan to spend $849 on average, up $59 from last year, according to a survey.
  • Electronics had the biggest spending increase of any category, and half of families plan to buy a laptop.

The back-to-school shopping season is at its peak heading into August, and families across the US are braced for a new spending record.

Collectively, families with children in grade school will shell out more than $37 billion on school supplies, up from about $34 billion

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Amazon sales growth slows in tame start to Jassy’s tenure as CEO

Brahm Buck

July 29 (Reuters) – Amazon.com Inc (AMZN.O) on Thursday said sales growth would slow in the next few quarters as customers venture more outside the home, a tepid start to CEO Andy Jassy’s reign after 27 years with Jeff Bezos at the retailer’s helm.

Spending growth by Prime members, Amazon.com’s most valuable customers, has eased as well, the company said. Shares fell 7% in after-hours trade.

More than a year into the COVID-19 pandemic, Amazon’s financial luster is fading slightly. When brick-and-mortar stores closed, Amazon posted record profits, drew more than 200 million Prime loyalty subscribers, and recruited over 500,000

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Amazon’s ads business posts 87% growth

Brahm Buck

The Amazon app displayed on a mobile phone.

Edward Smith | Getty Images

Amazon’s ads growth just keeps ballooning. 

The company’s “Other” unit, which is primarily made up of advertising but also includes sales related to other service offerings, grew revenue by 87% year-over-year in the second quarter to more than $7.9 billion, the company reported Thursday. That’s up from the 41% year-over-year growth the segment saw in the second quarter of 2020 and up from the 77% year-over-year growth it saw last quarter.

Amazon chief financial officer Brian Olsavsky said Thursday that new products and functionality helped drive higher

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Amazon’s Sales Growth Slows as Pandemic Shopping Surge Eases | Business News

Brahm Buck

By ANNE D’INNOCENZIO, AP Retail Writer

NEW YORK (AP) — The world’s return to almost normalcy is slowing down Amazon’s pandemic-induced sales surge.

The online behemoth on Thursday posted better-than-expected second-quarter profits. But it delivered sales results that came in short of expectations and offered a disappointing outlook for the current quarter.

Amazon said that revenue will be in the range of $106 billion to $112 billion for the third quarter. Analysts were looking for $119.3 billion.

Shares in Seattle-based Amazon.com Inc. fell more than 7% in after-market trading following.

Political Cartoons

Amazon is one of the few retailers that

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Amazon’s quarterly profit jumps to $7.8 billion.

Brahm Buck

Amazon on Thursday followed a trend among the country’s biggest tech firms. The company said it made more money in the latest quarter compared with last year — a lot more money.

The company said sales in the three months ending in June hit $113.1 billion, up 27 percent from a year earlier, when lockdowns were at their most extreme. It made $7.8 billion in profit, up 48 percent from $5.2 billion a year ago.

The results were a sign that even as businesses have reopened after the height of the pandemic, many people continue to do their shopping online,

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