Amazon Earnings Show a Sharp E-Commerce Slowdown

Brahm Buck

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Amazon

shares are heading lower in late trading Thursday after the e-commerce and cloud computing giant reported mixed results for the June quarter, with better-than-expected profits but sales that fell shy of Wall Street estimates.

The miss reflects a shortfall in Amazon’s e-commerce business, which suffered a sharp deceleration from recent growth trends. The e-commerce slowdown was partially offset by better-than-expected results in the company’s cloud computing, advertising, and third-party seller segments.

For the quarter, Amazon (ticker: AMZN) posted sales of $113.1 billion, up 27% from a year ago, or 24% when adjusted for

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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.

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Amazon is one of the few retailers that

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Shopping center CEO says foot traffic is back to pre-Covid levels as retail evolves

Brahm Buck

Foot traffic at Kimco Realty’s shopping centers has returned to pre-pandemic levels, CEO Conor Flynn told CNBC on Thursday.

“Traffic is back to 2019 levels, and we have a real playbook now that we can follow thanks to all the lessons learned through the pandemic,” Flynn said on “The Exchange.” “We launched curbside pickup and … the last-mile shopping center typically that we own is grocery anchored, and it gives the consumer the way that they want to shop, the optionality that I think is so important to consumers today.”

Kimco, which operates about 400 shopping centers in the U.S.,

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Jerusalem highlights: Week of July 30-August 5

Brahm Buck

FRIDAY AUGUST 30: The artists of the Agrippas 12 Gallery will present “Homage to Moshe Castel” to mark a decade since the opening of the Moshe Castel Museum of Art at Ma’aleh Adumim. Castel, a famous painter who fused East and West in his art and created murals for the Knesset and NYC’s Rockefeller Center, will be honored by a dozen artists who will reveal what in his work speaks to them today. Among the artists are USSR-born Lena Zaidel, who will present “Magical Stone 2” (2019) and USSR-born Max Epstein, who will present the 2019 installation “Red Filter.” 

The

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Trendyol Reportedly Near Raising New Funding

Brahm Buck

Turkey-based eCommerce startup Trendyol is reportedly near the finish line of a new funding round which is expected to drive the company’s valuation to $16.5 billion, Bloomberg reported.

The 11-year-old company continues to receive immense financial support from China-based Alibaba Group Holding Ltd., which in April increased its ownership in Trendyol to 86.5 percent after buying a majority share in 2018, according to Reuters.

According to unnamed sources cited by Bloomberg, Trendyol is in discussions to raise approximately $1.5 billion from various investors, including General Atlantic and SoftBank Group Corp., and could wrap up the proceeding by early

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