Amazon CEO Andy Jassy Says Investors Are ‘Sleeping a Bit’ on Retail as AMZN Stock Falls 7% in 6 Months

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

Amazon.com Inc.‘s shares have fallen more than 7% over the past six months, and CEO Andy Jassy believes the market is underrating the company’s retail business.

Some Folks Are ‘Sleeping a Bit’ on Stores

“I think some folks are sleeping a bit on how much progress that business has made and what it’s become the last few years,” Jassy told analysts on the company’s third-quarter earnings call.

Don’t Miss:

At hundreds of billions of dollars in revenue, Amazon is growing at a pace Jassy said he is “not aware” any other retailer matches.

Units have grown nearly 15% year over year so far this year, on top of more than 30 billion items sold last year, he added.

Online Shift Remains Early

The retail business has added more than $90 billion in gross sales over the past 12 months, roughly double the…