A primary culprit for the sour numbers was Amazon's new push to cut two-day Prime shipping to just one day, which has forced the online retailer to spend billions of dollars to ramp up its transportation and warehouse infrastructure and buy more inventory to bring popular products closer to customers. Amazon's string of record quarterly profits appears to have collapsed after the company's bold plan to speed up its shipping saddled it with more expenses. After four straight quarters of record profit, Amazon is again in heavy investment mode, this time as it shells out to speed up its Prime shipping service across the world. The company said on Tuesday that it's spending $4.5 billion over three years to build a network of warehouses around the world where customers can order goods from thousands of retailers including Amazon, Walmart, Target,
A primary culprit for the sour numbers was Amazon's new push to cut two-day Prime shipping to just one day, which has forced the online retailer to spend billions of dollars to ramp up its transportation and warehouse infrastructure and buy more inventory to bring popular products closer to customers. After four straight quarters of record profit, Amazon is again in heavy investment mode, this time as it shells out to speed up its Prime shipping service across the world. The company said on Tuesday that it's spending $4.5 billion over three years to build a network of warehouses around the world where customers can order goods from thousands of retailers including Amazon, Walmart, Target,