Amazon Covid-19 pandemic bump fades as vaccinated shoppers leave home

Amazon shares declined 8% at 9:34 a.m., for the biggest drop since May 1, 2020. This was the first time Amazon missed quarterly sales estimates since 2018

Amazon.com Inc. emerged as the essential store for homebound shoppers during the coronavirus pandemic, propelling its sales and profits to new highs. Now, the rush online is slowing down as vaccinated consumers peel away from computers and smartphones and revert to old habits like traveling and dining out.
 

The world’s biggest e-commerce retailer on Thursday reported sales and gave a forecast that fell short of expectations. The shares declined 8% at 9:34 a.m., for the biggest drop since May 1, 2020. This was the first time Amazon missed quarterly sales estimates since 2018.

The Seattle-based company invested billions to operate through