A massive company has now shuttered two popular stores after being open for only less than two years.
Amazon announced that it will close its two Amazon Style stores, located in Glendale, Calif. and Columbus, Ohio, by Nov. 9, 2023, according to CNBC.
“After careful consideration, we’ve decided to close our two Amazon Style physical retail stores and focus on our online fashion shopping experience, where we’re offering new, exciting selection[s] at great value and introducing innovative technology to meet the needs of every customer,” Amazon spokesperson Kristen Kish said in a statement.
“Physical retail remains an important part of our business, and we’re continuing to invest in growing our grocery stores business, which spans Amazon Fresh, Whole Foods Market, Amazon Go, and third-party partnerships.”
“Amazon launched the concept in January 2022 before opening the Glendale store to the public in May 2022.
It represented the company’s first foray into hawking clothes, shoes and accessories in the offline world, and its latest attempt at cracking physical retail,” reports CNBC.
“That effort has been met with mixed success. The company last March shuttered several retail chains, including its line of Amazon Books, 4-star and Pop Up stores, as part of a broader move to cut costs and rein in its physical footprint.
Amazon also shed some warehouse space, axed several unproven bets and laid off about 27,000 employees. The company also temporarily hit pause on further expansion of its Amazon Go cashierless marts and Fresh supermarkets.”
Amazon is working closely with employees affected by the Style store closures, Kish said.
It will give them the choice to move to other roles at the company, and employees who choose not to stay with Amazon will be offered severance.
Other Economy News Today
A massive US company is now opening a new fulfillment center in Texas as it prepares for holiday demand.
Walmart has announced that it has opened its third ‘next generation’ fulfillment center in Lancaster, Texas.
The 1.5 million-square-foot-facility near Dallas is one of five recently announced.
The retailer said the facilities will enable it to fulfill more orders, more quickly by using an automated, high-density storage and retrieval system that condenses the retailer’s 12-step fulfillment process down to five steps.
“These tech-powered jobs will drive the future of Walmart’s continued promise of speedy shipping and delivery for customers in the south-central U.S. just in time for the holidays,” Karisa Sprague, senior vice president of fulfillment network operations for Walmart U.S. said in the release.
“In June 2022, Walmart announced plans for multiple next-generation fulfillment centers,” reports SupplyChainDive.
“The retailer has already opened two centers located in Joliet, Illinois, and McCordsville, Indiana, in addition to the Texas facility.
Walmart plans to open two more in Stockton, California, and Greencastle, Pennsylvania.”
The ”next gen” facilities expand access to the retailer’s next- or two-day shipping by combining the service with Walmart’s fulfillment network.
The joint process is expected to help Walmart reach 95% of the U.S. population.
Walmart Fulfillment Services, Walmart’s end-to-end third-party fulfillment service, will also leverage the space to fulfill Marketplace items, according to RetailDive.
CFO John David Rainey said the company was pleased with the performance metrics from its newly automated distribution and fulfillment facilities, noting that the “centers are achieving efficiencies of 30% higher units per hour than non-automated buildings.”
Market News Published Daily 📰
Don’t forget to opt-in for push notifications so you don’t miss a single article!
Also, thank you to all of our blog sponsors. This year we’ve been able to increase push notifications slots making it more convenient than ever for new readers to receive their daily market news and updates.
- Gain access to EXCLUSIVE FrankNez articles you won’t find here.
- Become part of a private and safe Discord community, just for retail investors.
- Get drawn at the end of the year for holiday giveaways.
Recommended For You ✨
- Massive Layoffs in California Now Underway Prior to Holidays
- California Now Has Massive Departures As Hundreds of Thousands Leave
- A Massive Bank Now Closes Several Branches in Florida
- A US Bank is Now Denying Customers Access to Money
- A US Company Now Declares An Unexpected Bankruptcy
- Chase Customers Now Unable to Access Money Through ATMs