Luckily, Amazon is actually backing up its profit talk with some action. Notably, Amazon is cutting 15 percent of its work force, closing a distribution center and a call center, and lowering sales targets. Meet the new Amazon. Sales just aren't growing that fast. You don't see Wal-Mart lowering projections like that.
Landes is on target.
That's why you're going to see a lot of shareholder turnover today. The growth folks are gone. That last point is worth noting. Using the slowing economy as a crutch, Amazon said its sales growth will plateau. Analysts weren't buying it.