Getting an early start on the holiday sales season, Amazon (AMZN) on Thursday opened its Black Friday Deals Store, offering discounts on a wide range of products.
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Amazon joins the likes of Walmart (WMT), Target (TGT) and Costco (COST) with its own special deals to note the retail shopping event taking place the day after Thanksgiving.
In addition to launching its Black Friday Deals Store, the e-commerce giant is offering other perks to lure holiday shoppers. Among them, it created a site for gift ideas. Members of its Prime subscription program also are eligible for free same-day delivery on more than 3 million items.
At its Black Friday Deals Store site on Thursday, Amazon offered discounts on laptop computers and other electronics, clothing, household items and more.
Amazon Stock And Holiday Spending Increases
Last year, consumer spending on Black Friday reached $5.03 billion, up 17% from the prior year, according to Adobe (ADBE) Analytics data.
Adobe, on Thursday, said it expects U.S. online sales throughout the holiday season this year to reach $124 billion, up 15% from the year-ago period. It expects offline retail spending to increase a modest 2.7%.
Amazon stock closed at 1,665.53, up 4.2% on the stock market today. The company reported third-quarter results last week that beat earnings estimates, but revenue fell short of views.
Revenue growth from its core e-commerce business decelerated for the second straight quarter from the year-ago period. That was partly due to a slowdown in international sales. The company also presented a fourth-quarter revenue forecast that missed estimates.
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The post Amazon Launches Black Friday Deals Store For Early Holiday Shopping appeared first on Investor's Business Daily.
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