Covid-19 impact: Amazon delays Prime Day sales event, expects $100-mn hit

It was unclear how solid the estimates were or what the impact to Amazon ultimately would be

Amazon.com Inc is postponing its major summer shopping event Prime Day until at least August and expects a potential $100-million hit from excess devices it may now have to sell at a discount, according to internal meeting notes seen by Reuters.

Amazon declined to comment. Prime Day, a marketing event Amazon started in 2015 to drum up sales during the summer shopping lull, has previously occurred in July, though the company never publishes the date far in advance.

The notes, in which Amazon's general counsel wrote critical comments about a fired employee previously reported by Vice News, offer a rare insight into strategic