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Amazon Sets Dates For Summer Sales Event

E-commerce giant Amazon (AMZN) has announced that it will hold its latest “Prime Day” sales event on July 16 and 17 of this year.

It will be the 10th Prime Day event held by Amazon and will see millions of products offered at discounted prices.

The sales event typically gives Amazon’s financial results and its stock a lift during a slow period of the calendar year.

Amazon had originally only held one Prime Day event each year during the summer months but has expanded it to hold a second sales event in October.

The dates for the autumn sales event have not yet been made public by Amazon.

The July event will see discounts offered to subscribers of the Amazon Prime service and will feature some back-to-school sales, as well as sales on streaming service “Amazon Music.”

The Prime Day event will take place simultaneously in 23 countries, including Canada.

In 2023, Amazon’s July Prime Day was the company’s biggest ever sales event.

The October sales, which come months before the year-end holidays, haven’t been as successful as the summer event, the company has acknowledged.

Amazon’s stock has risen 46% in the last 12 months to trade at $185.57 U.S. per share.