Yahoo Finance Amazon (AMZN) Unveils Early Deals to Boost Prime Day Efforts
Amazon AMZN is gearing up for its 10th two-day global mega summer shopping event, Prime Day, which is set to kick off on Jul 16. In regard to this event, the company announced early deals in order to let customers enjoy Prime Day savings from now onward.
The company is offering access to several exciting early deals on select Amazon devices, including Ring Battery Doorbell Plus, Blink Outdoor 4 multi-packs, Fire TV Cube (3rd Gen), Kindle Scribe, eero Max 7 mesh WiFi systems, Echo Show 8 (3rd Gen), Fire TV 2-Series, Fire HD 10 tablets, Fire HD 8 Kids and Amazon Smart Plugs.
Early Prime Day deals are also available on products from popular brands like Nordic Track, poppi Prebiotic Sodas and Hatch, and on products from small businesses like Brilliant or BS, Solawave, Toyish and Lyrically.
Amazon is offering early deals on products from black-owned, women-owned, military family-owned, Hispanic-owned, AANHPI-owned and LGBTQIA-owned businesses.
In addition to early deals, the company has announced ‘Back to School and College’ shopping guides, as well as related great deals.
Amazon is providing access to great deals on Amazon Music Unlimited, and Prime Video shows, movies and channels.
Prime Day will be conducted in several countries like the United States, the U.K., Australia, Austria, Belgium, Brazil, Canada, Egypt, France, Germany, Italy, Japan, Luxembourg, Mexico, the Netherlands, Poland, Portugal, Saudi Arabia, Singapore, Spain, Sweden, Turkey and the UAE.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
Prime: A Key Catalyst
Amazon’s shares have returned 22.7% year to date, outperforming the industry’s rally of 16.6%. The company has been riding on its Prime program, which remains the key catalyst.
Strengthening delivery and shipment services, and expanding music and video content, plus a robust loyalty system, are constantly boosting Amazon’s Prime subscriber base.
The Prime Day celebration rakes in profits for AMZN by benefiting shoppers and third-party sellers to a great extent. Hence, it is crucial for the company.
Amazon intends to make its Prime Day event a huge success by providing access to the above-mentioned early deals. These deals are likely to boost AMZN’s Prime Day sales and drive customer momentum by encouraging shoppers to join the Prime program.
This, in turn, will drive subscription revenues of the company, which will contribute to the overall financial performance in the days ahead.
For 2024, the Zacks Consensus Estimate for revenues is pegged at $638.24 billion, reflecting growth of 11% from that reported in 2023. The consensus mark for 2024 earnings stands at $4.58 per share, which has been unchanged over the past 30 days. The EPS estimate suggests year-over-year growth of 57.9%.
Zacks Rank & Stocks to Consider
Currently, Amazon carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader retail-wholesale sector are Walmart WMT, Burlington Stores BURL and DICK'S Sporting Goods DKS, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Walmart has gained 29.9% in the year-to-date period. The long-term earnings growth rate for WMT is estimated at 7.15%.
Burlington Stores shares have gained 23.5% in the year-to-date period. BURL’s long-term earnings growth rate is projected at 24.61%.
DICK'S Sporting Goods has gained 55.3% in the year-to-date period. The long-term earnings growth rate for DKS is anticipated at 6.16%.
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