• The Kansas City Star reports that Hy-Vee is ready to begin building there a new "$29 million e-commerce fulfillment center and central kitchen for its Kansas City-area stores ... The fulfillment center will support the Hy-Vee Aisles Online order and delivery program. The kitchen facility will prepare food to be distributed to the grocer’s area stores."
• Amazon entered rarefied territory yesterday - for a brief time, its stock price went above $1,000 per share.
The New York Times reports that Amazon "is now the fourth most valuable company in the world by market capitalization. The top five, Apple, Alphabet, the parent company of Google, Microsoft, Amazon and Facebook, have emerged as the dominant forces in technology. Amazon’s shares are up almost 33 percent for the year and up 368 percent over five years. Tech companies make up the five most valuable companies in the world by market capitalization."
The Times story also notes that Amazon has "given investors reason to believe it is not content to remain simply an e-commerce giant. Through its Amazon Web Services business, it is now the largest provider of cloud computing services in the world. It stands to benefit for many years as hundreds of billions of dollars in information technology spending shifts from traditional purchases of hardware and software to effectively renting them in the data centers. Because profit margins in cloud computing are wider than those in the retail business, Amazon, which had only a passing familiarity with profits over most of its life, is now consistently in the black."
Stock price has not been something that apparently has preoccupied Amazon founder/CEO Jeff Bezos, who, the Times points out, "has been dismissive of the preoccupation with near-term stock price swings, often quoting the influential investor Benjamin Graham, who said the market is a voting machine in the short run and a weighing machine in the long run."
• Advertising Age reports that "Amazon's attempt to re-invent HSN and QVC for a younger generation has ended ... After 15 months on the air, Amazon canceled the live fashion and beauty series 'Style Code Live'."
The half-hour series had streamed five days a week on Amazon's website, and allowed customers to easily purchase products featured on the program.
• Amazon entered rarefied territory yesterday - for a brief time, its stock price went above $1,000 per share.
The New York Times reports that Amazon "is now the fourth most valuable company in the world by market capitalization. The top five, Apple, Alphabet, the parent company of Google, Microsoft, Amazon and Facebook, have emerged as the dominant forces in technology. Amazon’s shares are up almost 33 percent for the year and up 368 percent over five years. Tech companies make up the five most valuable companies in the world by market capitalization."
The Times story also notes that Amazon has "given investors reason to believe it is not content to remain simply an e-commerce giant. Through its Amazon Web Services business, it is now the largest provider of cloud computing services in the world. It stands to benefit for many years as hundreds of billions of dollars in information technology spending shifts from traditional purchases of hardware and software to effectively renting them in the data centers. Because profit margins in cloud computing are wider than those in the retail business, Amazon, which had only a passing familiarity with profits over most of its life, is now consistently in the black."
Stock price has not been something that apparently has preoccupied Amazon founder/CEO Jeff Bezos, who, the Times points out, "has been dismissive of the preoccupation with near-term stock price swings, often quoting the influential investor Benjamin Graham, who said the market is a voting machine in the short run and a weighing machine in the long run."
• Advertising Age reports that "Amazon's attempt to re-invent HSN and QVC for a younger generation has ended ... After 15 months on the air, Amazon canceled the live fashion and beauty series 'Style Code Live'."
The half-hour series had streamed five days a week on Amazon's website, and allowed customers to easily purchase products featured on the program.
- KC's View:
