Amazon Gives Refunds for Years-Old Returns

Amazon customers are suddenly getting refunds for products they purchased and returned as far back as 2018, along with apologies from the online retailer after it discovered 'unresolved' issues. From a report: The precise scope of the refunds issued isn't clear but executives hinted it may be hundreds of millions of dollars. Chief Financial Officer Brian Olsavsky, speaking on a conference call after the company released earnings May 1, said Amazon took a one-time charge of approximately $1.1 billion in the first quarter related in part to 'some historical customer returns' that were unresolved. The charge was also attributable to the cost of stockpiling inventory in anticipation of tariffs.

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