Amazon Stumbles On Slower Sales Growth, Higher Labor Costs

The retail giant reported it came up short on revenue projections last quarter because of supply chain problems and labor shortages.

Amazon isn't just grappling with the easing of pandemic-induced shopping splurges. The online retail behemoth is also contending with surging costs as it navigates a snarled supply chain and labor shortages.

Those challenges resulted in Amazon reporting a shortfall Thursday in third-quarter profits and sales. It also led the Seattle-based company to deliver a holiday sales forecast that was below Wall Street expectations.

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