Amazon Results Could Bode Well for Rival Retailers Walmart, Target
August 8, 2023
Amazon’s strong quarterly results, with a 4.2% increase in sales on Amazon.com and a 6.4% jump in sales at its physical store operations, indicate that Americans are still shopping despite economic indicators. The positive performance could bode well for rival retailers Walmart and Target, which are set to report their results next week. However, analysts are cautious about whether Amazon’s growth is a reflection of overall stronger consumer demand or a result of the improvements the company has been making, such as faster deliveries and price adjustments at Whole Foods.
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