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Amazon Could Contribute More Than Half of Retail Sector's Earnings Growth This Holiday Season

By BenZinga
Financial Services

The holiday shopping season kicked off with Black Friday, which raked in record online sales of $6.22 billion, up 23.6 percent year-over-year, according to Adobe Analytics data.

This should bode well for Amazon.com, Inc. (NASDAQ: AMZN), which has bulldozed its way to e-commerce dominance and arguably edged some brick-and-mortar retailers out of business.

Leading The Retail Pack

The company’s influence on the retail sector was further confirmed by data released by FactSet. In its weekly earnings insight, the firm said Amazon would be responsible for more than 50 percent of the year-over-year earnings growth among S&P 500 retailers …

Read the full story at Benzinga.

Photo: Getty iStock

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