Amazon Go - A Blessing Or A Political Nightmare [Seeking Alpha]
JC PENNEY (JCP)
Last jc penney earnings: 2/27 07:30 am
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Source: Seeking Alpha
Summary Thesis The future for grocery stores is here! Amazon ( AMZN ) plans to open as many as 3,000 new Amazon Go cashierless stores by 2021. It plans to open ~10 locations by the end of this year and ~50 locations in major cities by 2019. We believe this initiative has the potential to disrupt the grocery store space in the same way it did with the retail space. However, the disruption might come at a cost. In a September report released by the U.S. Bureau of Labor Statistics, for the month of September alone, employment in the clothing and accessories industry has decreased by 21,000. Moreover, over the last two years or so, we have seen retail stores like J.C. Penney (NYSE: JCP ), Macy's (NYSE: M ), Nordstrom (NYSE: JWN ), Barnes & Noble (NYSE: BKS ), Costco (NASDAQ: COST ), Foot Locker (NYSE: FL ), Kohl's (NYSE: KSS ), and Finish Line (NASDAQ: FINL ) announce massive store closures and layoffs. The Amazon Go initiative will threaten the survival
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