Due to the slowdown in its operations, Amazon has decided to close 68 physical stores across the US and UK. The decision affects Amazon Books, Amazon 4-Star Stores, and Amazon Pop-up Stores.
Until the closing of the issuance of this memo, the company had not been informed of the reasons for the decision. versions of Media like CNBC They attributed this to the fact that “actual warehouse unit sales growth has significantly lagged behind the company’s retail business”.
For example, they detailed that traditional point-of-sale or convenience stores like Whole Foods “recorded lower sales in 2021 compared to 2018”. In fact, stores are coming off their worst quarterly performance since 2001, and the company’s shares are down 8 percent so far this season.
Amazon said in a statement that it “remains committed” to building long-term physical retail concepts and technologies. Proof of this is the recent opening of Style, where she sells clothes.
CNBC added that the retail giant did not specify when stores will close or how many people may lose their jobs. However, it said it would “help affected employees find jobs elsewhere in the company.” He said those who choose to leave will be offered severance packages.
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