Amazon Could Be Adding Department Stores; What It Means for the Stock
E-commerce giant Amazon (NASDAQ: AMZN) is considering adding department stores to its list of business ventures. Reports indicate each store could be about 30,000 square feet in size, with the first few planned to open in California and Ohio.
Amazon already has a physical footprint through its Whole Foods Market stores. However, those mainly sell groceries. The newly added stores will more likely carry clothing and other items that Amazon has some difficulty selling profitably online. Moreover, the new stores can act as pickup and return hubs for online orders at Amazon.com.
Amazon has spent $34.1 billion in fulfillment expenses in 2021. Image source: Getty Images.
Source Fool.com
