Amazon reportedly plans ‘Summer Sale’ starting June 22 to make up for Prime Day delay

Amazon.com is planning to hold a summer sale event on June 22 to help sellers grappling with the reported postponement of the e-commerce site’s Prime Day and the hit to sales from the COVID-19 pandemic, CNBC reported on Tuesday.
A spokesperson for Amazon did not immediately respond to a request for comment from Fortune.
According to a document CNBC said it saw, Amazon told brands on Tuesday that it would hold a “Fashion Summer Sale Event” later this month to “drive excitement and jump-start sales,” with participation by invitation only. CNBC also reported discounts of at least 30% will be required, and items that will be included in deals need to be shared with Amazon by tomorrow. The sales event would last seven to 10 days, according to CNBC.
Several media outlets recently reported that Amazon’s annual Prime Day event would be delayed until September to allow Amazon to help relieve its warehouses still dealing with a surge in business because of coronavirus-driven stockpiling this spring.
The Amazon sale would come at a time many brands, particularly clothing lines, are desperate to clear merchandise left over from the spring season when spending fell off a cliff and stores were closed. Analysts expect heavy discounting from department stores and clothing chains in June, particularly later in the month, by which time most national retailers will have reopened almost all their stores. Apparel stores saw sales drop 89% between February and April.
Amazon recently lifted restrictions on nonessential goods and restored coupons and deals, but it is still dealing with some lingering out-of-stock issues. In April, the company warned investors it would spend $4 billion in the current quarter on coronavirus-related expenses, including “getting products to customers and keeping employees safe.”
Source: Fortune