Walmart, Kroger shares hint at concerns about Amazon's low-cost delivery plan, UBS says [Seeking Alpha]
Amazon.com, Inc. (AMZN)
Last amazon.com, inc. earnings: 4/30 04:01 pm
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Source: Seeking Alpha
after Amazon ( NASDAQ: AMZN ) unveiled a low-cost grocery delivery program, UBS ( UBS ) said. Amazon ( AMZN ) is aiming to expand its fresh-food business through a delivery subscription benefit in the U.S. for its Prime members and customers using an EBT (electronic benefits transfer) card. It outlined the $9.99 monthly plan on Tuesday. Walmart ( WMT ) and Kroger ( KR ) shares ended that session down 1.8% and 2.3%, respectively, underperforming gains in the broader equity market ( SP500 “The market has interpreted AMZN's change as a signal of increasing competition,” UBS analyst Michael Lasser wrote in a note Tuesday. “The reality is that all of the leading players have been competing intensely for some time for a greater share of online grocery spend,” he said. UBS anticipates online grocery penetration to grow "modestly" to ~10% of industry sales in 2024, retracing to a pandemic-era peak. Lasser said recent moves by retailers in the “revolution” of the online grocery industry
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AMZN
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AMZN
Earnings
- 4/30/24 - Beat
AMZN
Sec Filings
- 5/3/24 - Form 4
- 5/3/24 - Form DEFA14A
- 5/3/24 - Form 8-K
- AMZN's page on the SEC website