Amazon's holiday

© Reuters. FILE PHOTO: The Amazon logo is seen outside its JFK8 distribution center in Staten Island, New York, U.S. November 25, 2020. REUTERS/Brendan McDermid

(Reuters) - Amazon.com Inc (NASDAQ:AMZN) on Thursday forecast holiday-quarter sales well below Wall Street expectations, as a tightening job market and supply shortages make it difficult for retailers to keep their shelves stocked, sending its shares down about 3%.

The e-commerce giant forecast fourth-quarter sales to be between $130 billion and $140 billion. Analysts were expecting $142.05 billion, according to IBES data from Refinitiv.

Retailers are facing supply shortages of everything from toys, Nike (NYSE:NKE) sneakers to laptops, making it difficult for them to stock up their shelves for the holiday season.

Amazon also missed expectations for third-quarter sales, which grew at their slowest pace since the COVID-19 outbreak, as consumers returned to stores after shopping online from their homes for over a year.

Total net sales rose to $110.81 billion in the third quarter ended Sept. 30, from $96.15 billion, a year earlier.

Analysts had predicted $111.60 billion, according to IBES data from Refinitiv.

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