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Epic Economist, 11/27/24
"Amazon Is In Big, Big Trouble
As Multiple Retail Stores Are Closing Down"
"Amazon is abandoning multiple brick-and-mortar stores this fall as its retail and grocery businesses face a series of challenges. Amid slower sales and a bleak outlook for the rest of the year, CEO Andy Jassy is cutting back on costs ahead of its quarterly earnings report that is about to be released next week and is likely to bring disappointing results for investors once again.
Earlier this year, the company’s stock was hammered due growing signs of struggle in its brick-and-mortar segment. The market rout was so brutal that it wiped billions of dollars out of Jeff Bezos’ fortune. Now, with consumer budgets still being stretched by rising prices, the retail behemoth is closing several locations where its tech innovations have failed to impress.
If you want to know whether your local store is on the chopping block, and understand how the retail recession is dragging Amazon down in 2024, stay with us until the end of the video because the news we are going to share with you today will certainly not be reported by the mainstream media."
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