Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amazon.com    AMZN

AMAZON.COM

(AMZN)
My previous session
Most popular
  Report  
Delayed Quote. Delayed Nasdaq - 02/19 04:00:01 pm
1627.58 USD   +1.22%
04:42aSainsbury's-Asda deal in doubt as UK regulator raises big objections
RE
04:24aAMAZON COM : Meet Lucas, the Amazon Prime truck kid
PU
02:49aAMAZON COM : Faces New Hurdle in Pentagon Job
DJ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Exclusive: Amazon targets airports for checkout-free store expansion

share with twitter share with LinkedIn share with facebook
share via e-mail
0
12/07/2018 | 09:52am EST
FILE PHOTO: A customer walks out of the Amazon Go store, without needing to pay at a cash register due to cameras, sensors and other technology that track goods that shoppers remove from shelves and bill them automatically after they leave, in Seattl

(Reuters) - Amazon.com Inc is looking at bringing its futuristic checkout-free store format to airports in an effort to win business from hungry, time-pressed travelers, according to public records and a person familiar with the strategy.

The move underscores how a company that started as an online bookseller is making forays into brick-and-mortar retail to capture a greater share of shoppers' spending.

For months, the world's largest online retailer has been expanding Amazon Go, where customers scan their smartphones at a turnstile to enter, and then cameras identify what they take from the shelves. When shoppers are finished, they simply leave the store and Amazon bills their credit cards on file.

Amazon has opened seven of the stores to the public since January: in Chicago, San Francisco and its hometown Seattle, mostly catering to workers in nearby offices looking for a quick lunch.

Amazon is evaluating top U.S. airports for new locations, according to public records requests to several airport operators.

"The lead for Amazon Go requested a meeting," read a June 27 email from a technology adviser who supports Los Angeles International, the second-busiest airport in the country, to a concessions official. "Interested?"

"Yes. Thanks!" the concessions official replied.

A few hundred miles north, in the heart of Silicon Valley, an account manager at Amazon's cloud unit asked San Jose International Airport for a meeting and referenced Amazon Go, as "one of many possibilities we can discuss."

After the June meeting took place, during which Amazon discussed how the stores work, an airport information technology manager wrote: "I am looking forward to moving forward with the Amazon Go technology at the airport."

Officials from both airports have since told Reuters they had no further correspondence about Amazon Go and that the retailer would have to undergo a competitive bid process to become a concessionaire, as is typical. The company's cloud unit, Amazon Web Services, has been in touch with airports for other purposes. The status of the Amazon Go effort is unclear.

An Amazon spokeswoman declined to comment.

A person familiar with the strategy confirmed that Amazon is studying how to get the checkout-free stores into airports and that an employee with experience in business development was assigned to the task.

"Think about how you can expose your brand," the person familiar with the matter said, on condition of anonymity. "You'll be able to build broad awareness just being in a dozen of the best airports."

More than 350 million passengers boarded flights at the country's top 12 airports last year, according to U.S. Department of Transportation data.

Operating in airports will present new challenges for Amazon Go.

Workers must gain clearances to staff concessions after security checkpoints, and square footage in busy sections of an airport can be expensive to lease. What is more, many airports are publicly run and require would-be concessionaires to put in public bids for retail space.

If "you do a deal, it's almost like they go back out and shop it," said Kazuko Morgan, vice chairman at real estate services firm Cushman & Wakefield. She was not speaking with reference to Amazon.

"Not only do your terms become public knowledge, someone can come in at the last hour and block you," she said.

That has not stopped airports from trying to court the online retailer. In September, a concessions manager for Dallas Fort Worth International Airport emailed the vice president in charge of Amazon Go, asking for a partnership "on the first Airport Amazon Go location."

The airport did not immediately comment on whether the concessions manager got a response.

(Reporting By Jeffrey Dastin in San Francisco; Editing by Bill Rigby)

By Jeffrey Dastin

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AMAZON.COM
04:42aSainsbury's-Asda deal in doubt as UK regulator raises big objections
RE
04:24aAMAZON COM : Meet Lucas, the Amazon Prime truck kid
PU
02:49aAMAZON COM : Faces New Hurdle in Pentagon Job
DJ
02:48aAMAZON COM : Politicians Feel the Heat Over Amazon
DJ
02/19AMAZON COM : Queens Politicians Feel the Heat Over Doomed Amazon Deal -- Update
DJ
02/19AMAZON COM : Pentagon Cloud-Computing Contract Sought by Amazon Faces New Hurdle
DJ
02/19AMAZON COM : Queens Politicians Feel the Heat Over Doomed Amazon Deal
DJ
02/19AMAZON COM : Walmart holiday-quarter sales jump, says consumers still spending
RE
02/19AMAZON COM : Studios Hopes to Hit 30 New Releases a Year -NYT
DJ
02/19AMAZON COM : Pentagon Cloud-Computing Contract Sought by Amazon Faces New Hurdle
DJ
More news
Financials ($)
Sales 2019 275 B
EBIT 2019 17 613 M
Net income 2019 13 940 M
Finance 2019 35 040 M
Yield 2019 -
P/E ratio 2019 60,08
P/E ratio 2020 41,75
EV / Sales 2019 2,78x
EV / Sales 2020 2,28x
Capitalization 799 B
Chart AMAZON.COM
Duration : Period :
Amazon.com Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMAZON.COM
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 47
Average target price 2 048 $
Spread / Average Target 26%
EPS Revisions
Managers
NameTitle
Jeffrey P. Bezos Chairman, President & Chief Executive Officer
Brian T. Olsavsky Chief Financial Officer & Senior Vice President
Patricia Q. Stonesifer Independent Director
Tom A. Alberg Independent Director
Thomas O. Ryder Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
AMAZON.COM8.36%799 472
WAYFAIR INC33.36%11 032
QURATE RETAIL INC11.99%9 828
ETSY INC14.90%6 584
B2W COMPANHIA DIGITAL13.07%5 820
MONOTARO CO.,LTD.-6.50%5 572