Shares of Amazon.com (NASDAQ: AMZN) jumped 3.3% on Friday after retail sales unexpectedly climbed in September.
Sales rose 0.7% sequentially and 13.9% year over year. Analysts had forecast a sequential decline of 0.2%.
Concerns had been mounting that stubbornly high COVID-19 case counts, the end of enhanced unemployment benefits, and supply chain bottlenecks would conspire to weaken the retail industry's recovery. But consumers proved surprisingly resilient, and retailers weathered their supply chain challenges better than Wall Street expected.
Source Fool.com