American Eagle Shares Drop 13% on Weak Holiday Forecast
Shares of American Eagle Outfitters Inc. declined significantly by over 13% following the company’s release of weaker-than-expected …
October 6, 2022: The company confirmed that Amazon would no extended market its video-calling device aimed at kids.
At its annual hardware event in the previous September, the online retail giant unveiled a curious-looking product called Amazon Glow that combined video calling with games. Kids could video chat with their loved ones, and the device projected graphics that responded to touch.
The $300 device was initially available by invitation, but Amazon opened it to the broader public in late March. Now, just over six months after its wider rollout, the company said it would stop selling the Amazon Glow.
A product page for Glow on Amazon’s website showed the device was “currently unreachable” as of Tuesday night.
“At Amazon, we think big, experiment, and invest in new ideas to delight customers,” Amazon representative Tim Gillman said in a statement. “We also continually evaluate the progress and potential of our products to deliver client value, and we regularly make adjustments based on those assessments. We resolve to be sharing updates and guidance with Glow customers soon.”
Bloomberg earlier said Amazon’s decision to halt sales of Amazon Glow.
The move comes as Amazon trims spending across the company amid fears of an economic downturn and slowing retail sales.
Amazon is freezing hiring for corporate roles in its massive retail organization, reassessing expansion in some areas of its fulfillment network. The company has even wound down projects that weren’t performing and hoped, including its Amazon Care telehealth service and several physical store chains.
Amazon typically unveils a handful of devices at its annual hardware events, many of which incorporate its Alexa virtual assistants, such as voice-activated microwaves and glasses. It also existed known to end products that failed to gain traction, such as the thoughtful Curl Echo ring.
We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.
Shares of American Eagle Outfitters Inc. declined significantly by over 13% following the company’s release of weaker-than-expected …
Chinese automakers BYD, Leapmotor, and Xiaomi have achieved a significant milestone by surpassing their annual delivery …
Trivariate Research, a prominent investment research firm, has proposed a contrarian investment strategy. The strategy advocates for a long position …
EasyJet, a major European low-cost airline, has reported revenue of $4.5 billion from ancillary services, such as checked baggage fees …
The world’s largest cryptocurrency has experienced a significant surge, surpassing the $96,000 mark. This remarkable price increase …
Orange, a leading global telecommunications operator, has announced strategic partnerships with OpenAI and Meta to …