Amazon Stock Sees Biggest Gain Since January After Record Holiday Season
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Amazon is closing out 2019 on a high note. After declaring a “record-breaking” holiday shopping season, the e-commerce giant’s stock on Thursday soared more than 4%, its highest point since Jan. 30. The positive momentum follows a rocky start to the month when Amazon stock faltered amid ongoing trade tensions and delivery delays due to weather and high holiday demand.
In a statement issued Thursday morning, Amazon shared highlights of its banner season. Although specific numbers were not disclosed, the firm revealed it sold “billions of items” worldwide, including millions of its own devices like Echo Dot and Fire TV Stick. The number of products delivered with Prime Free One-Day and Prime Free Same-Day Delivery nearly quadrupled compared to the same holiday period in 2018, making it Amazon’s “fastest-holiday yet,” the company said.
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A growing number of customers utilized Amazon lockers and counters around the country. Sixty percent more people shipped items to an Amazon pick-up point, rather than their homes or businesses, compared to 2018.
It was also a record-breaking season for Amazon’s independent third-party sellers, with worldwide unit sales experiencing double-digit year-over-year growth, surpassing a billion items sold in Amazon’s Stores.
Toys, fashion, home and beauty items were popular departments, with more than 500 million items ordered. Top-selling brands within the fashion category included Champion, Adidas, Carhartt and Amazon Essentials. Snow boots and cold weather accessories performed well from brands such as Columbia, Pendleton and Calvin Klein.
Thursday’s gains pushed Amazon stock up 37% since its 52-week low of $1,363.01 per share on the same day last year. The company is now worth $926.5 billion.
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