Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Amazon.com    AMZN

My previous session
Most popular
News SummaryMost relevantAll newsOfficial PublicationsSector newsTweetsMarketScreener Strategies

Exclusive: Amazon targets airports for checkout-free store expansion

share with twitter share with LinkedIn share with facebook
share via e-mail
12/07/2018 | 03:52pm CET
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
Latest news on AMAZON.COM
12/10EU's Vestager may investigate Apple Pay if there are formal complaints
12/10AMAZON COM : Austrian retailers file antitrust complaint against Amazon
12/10Graphic - Deep losses leave Big Tech with small earnings multiples
12/10AMAZON COM : Amid Crackdown on Seller Scams, Fires Employees Over Data Leak
12/08Huawei arrest stokes fears of China reprisals among America Inc executives
12/08Huawei arrest stokes fears of China reprisals among America Inc executives
12/08Huawei arrest stokes fears of China reprisals among America Inc executives
12/07U.S. job growth slows in November, monthly wage gains modest
12/07EXCLUSIVE : Amazon targets airports for checkout-free store expansion
12/07IMDB : #10 Breakout Star of 2018 Jacob Elordi Receives the IMDb : STARmeter Awar..
More news
News from SeekingAlpha
12/10Mattel, Hasbro drop on Amazon's private label toys 
12/10Stock Returns And Bond Ratings 
12/10BERKSHIRE HATHAWAY : Are Warren Buffett & Co. Losing Their Midas Touch? 
12/10Amazon Go flagship for London? 
12/10Alphabet May Be The Most Attractive FANG Stock 
Financials ($)
Sales 2018 232 B
EBIT 2018 12 449 M
Net income 2018 9 986 M
Finance 2018 11 325 M
Yield 2018 -
P/E ratio 2018 83,93
P/E ratio 2019 61,92
EV / Sales 2018 3,41x
EV / Sales 2019 2,76x
Capitalization 802 B
Duration : Period :
Amazon.com Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMAZON.COM
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 47
Average target price 2 107 $
Spread / Average Target 28%
EPS Revisions
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 Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
AMAZON.COM40.32%802 412
WAYFAIR INC30.52%9 465
MONOTARO CO.,LTD.-12.98%7 176
ETSY INC170.61%6 495
ZOZO INC-31.59%6 395