In recent years, Amazon.com Inc has spent billions of dollars on new warehouses that cut into profits, explaining to investors that it had no choice but to meet ever-rising consumer demand.
has spent billions of dollars on new warehouses that cut into profits, explaining to investors that it had no choice but to meet ever-rising consumer demand.The world's largest online retailer on Thursday reported $2 billion in incremental costs from having excess fulfillment and transportation capacity, a dramatic shift from just two years ago when Amazon had to turn away merchants' goods because it had room only for vital supplies.
After the Christmas holiday, consumer demand dwindled, as always. Online sales dipped from a year ago, Amazon's results showed. Brick-and-mortar stores beckoned shoppers once the Omicron wave subsided, and still others faced a choice between buying goods and filling their cars with high-priced gas. Amazon says order patterns have remained the same.
David Glick, a former Amazon vice president who is now chief technology officer of the on-demand fulfillment company Flexe, said extra space was no major challenge. Amazon will eventually need these warehouses, agreed Michael Pachter, an analyst at Wedbush Securities. But Amazon's disclosure provided little solace.
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