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Amazon Shakes Up Fulfillment Centers to Prep for 1-Day Prime

27 April 2019

Analysts had projected US$4.67 a share.

For years, Chief Executive Jeff Bezos pumped most of the cash generated from Amazon's operations back into new initiatives.

He added that increased competition from retailers like Walmart and Target, which have been rapidly investing in their websites and delivery services, is also eating into Amazon's customer base. The company's stock is up nearly 30 per cent this year.

While the company already offers free one-day shipping to many Prime members in countries in the European Union, Buzzfeed News reports that the internet retailer aims to speed up deliveries in every country it operates.

Amazon's push into advertising and cloud computing is paying off, helping the online shopping giant's first quarter profit more than double from a year ago.

AWS delivered half of Amazon's overall income of $4.4 billion-which surged beyond the $1.9 billion realized in the same period a year earlier.

In response to our inquiry about closures of some fulfillment centers, an Amazon spokesperson provided no details. The company's digital advertising franchise has grown into the third largest in the USA, trailing only Alphabet Inc.'s Google and Facebook Inc., researcher EMarketer estimates.

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The company forecast net sales of between $59.5 billion and $63.5 billion for the second quarter, the midpoint of which was below analysts' average estimate of $62.4 billion, according to Refinitiv data.

Advertising is another fast-growing source of revenue for Amazon.

The CFO said Amazon will use its own AMZL logistics as well as third-party carriers to meet its next-day promise.

The capacity to pull off one-day shipping consistently won't come cheap: Olsavsky noted that the company's guidance for the second quarter includes "approximately $800 million of incremental spend related to this investment".

The company is delving into even less familiar terrain, too.

Since its founding 25 years ago, Amazon has grown rapidly into one of the country's largest and most influential companies. The company, which had been spending heavily in a bid to grab market share in India's emerging online retail sector, was dealt a setback by regulations that limit the ability of foreign marketplace operators to take stakes in local merchants or ink exclusive deals with local sellers.

Amazon Shakes Up Fulfillment Centers to Prep for 1-Day Prime