Amazon’s update last week showed that it is not immune to the disruptive forces battering retail at present – but any smugness about the online Goliath’s challenges is missing the point.
While the retailer, a star of the pandemic, piled on sales in its third quarter, profits plummeted. Amazon acknowledged it was being hit by the same storms shaking the industry, such as supply chain snarl-ups, labour shortages and rising costs affecting everything from wages to freight.
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