Breaking this afternoon, Amazon announced plans to close all 68 of its physical stores, pop ups, and other shops carrying books, toys, and home goods. This applies to those both in the US and across the UK.
Amazon, which began with books, is choosing to pursue other offline ventures. They’re going to focus on opening more grocery retailers and develop a department store concept.
The physical stores for the giant retailer comprised only 3% of total revenue, primarily from their Whole Foods stores.
Amazon will announce dates the stores will close. Employees will be offered severance and/or assistance in finding positions at other Amazon physical locations in their communities (like their Fresh Stores). No details about the number of jobs being slashed were shared by the company.
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