Sept. 28, 2020, 10:00 a.m. EDT

Amazon Gains on Setting Dates for Prime Day

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Sep 28, 2020 (Baystreet.ca via COMTEX) -- Amazon /zigman2/quotes/210331248/composite AMZN -0.41% says it has finally set a date for this year's Prime Day after months of coronavirus-related delays.

The behemoth announced Monday that Prime Day will once again run two days this year, with discounts kicking off at midnight PT on Tuesday, Oct. 13 and lasting through Wednesday, Oct. 14. Members of Amazon's Prime subscription program will get access to "over one million deals across every category," including toys, electronics and apparel, the company said.

Prime Day, which started in 2015, is typically held in July. The discount celebration is partially designed to secure new Prime subscribers, to promote Amazon's products and services, and to provide a sales boost in the middle of the year.

Amazon was forced to put Prime Day on hold in the U.S. this year as a result of the coronavirus pandemic, which generated unprecedented strain on its warehouses and shipping and logistics networks.

Like many retailers, Amazon was hit with a surge of online orders. The demand quickly caused supply chain shortages and delivery delays and it took several months for conditions to return to normal.

Amazon settled on a mid-October Prime Day after it consulted with its global teams and spent several months adjusting operations inside its warehouses to make it safer for employees to continue to work, said Prime Vice-President Jamil Ghani.

Shares in AMZN spiked $49.90, or 1.6%, to $3,145.03

COMTEX_371995179/2559/2020-09-28T10:00:24

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

/zigman2/quotes/210331248/composite
US : U.S.: Nasdaq
$ 3,259.21
-13.50 -0.41%
Volume: 2.09M
Oct. 19, 2020 11:15a
P/E Ratio
124.93
Dividend Yield
N/A
Market Cap
$1639.27 billion
Rev. per Employee
$359,671
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