Shelf Awareness reports that “in the fourth quarter ended December 31, net sales at Amazon rose 8.6%, to $149.2 billion, and net income fell to $278 million from $14.3 billion. For the year, net sales rose 9.4%, to $514 billion, and there was a net loss of $2.7 billion compared to a net gain of $33.3 billion in 2021. The company estimated that net sales in the first quarter of this year will be between $121 billion and $126 billion, or 4%-8% more than the same period a year ago. The company expects ‘slower growth rates’ in the next few quarters, according to CFO Brian Olsavsky.”

A number of factors led to a more than 5% drop in the price of Amazon stock after markets closed on February 2. In its report,  Shelf Awareness notes that Amazon’s in-store sales, ad sales, and product sales, including digital media, all slowed. Amazon Web Services also had its lowest gain since the company began reporting the unit’s sales.

The company recently cut staff–including some 18,000 executive positions–and slowed the openings of new warehouses. Read more at Shelf Awareness.