Posted on 04/30/2021 10:08:56 AM PDT by xzins
Amazon reports profits increased 220% in the first three months of this year, compared to the same period last year – showing the online retailer and marketplace's growing dominance and profitability during the pandemic in which consumers worldwide relied more on internet shopping.
The company on Thursday reported $108 billion in sales and $8.1 billion in profit, equalling the triple-digit percentage increase, for the first three months of 2021.
"We certainly had strong volumes really across all of our businesses," said Amazon’s finance chief, Brian Olsavsky, according to The New York Times.
The high volume of orders during the pandemic has let Amazon run its warehouses at near full capacity. During the pandemic, drivers have made more stops to customers than before, with data showing they're spending less time driving between customers, showing more people are using their delivery services.
The reports say that the pandemics shift to remote computing also helped sales. Amazon reported its web services has $13.5 billion in sales for the quarter.
Amazon founder Jeff Bezos is considered the most wealth person in the world, with an estimated network of $201 billion.
Last month, workers at an Amazon warehouse in Alabama voted against forming a union, amid employee complaints across the country about general working conditions and those during the pandemic including health and safety, long-hours, and few breaks.
The 26-year-old company is the United States' second-largest employer, employs more than 950,000 full- and part-time workers in the country and nearly 1.3 million worldwide, according to the Associated Press.
They didn’t reach that on my dime.
Fascism, though, is never reconcilable with personal freedom.
I have long believed that Eisenhower saw how the corporate/government liason of fascism was little different from our military/industrial liaison. He was prescient.
“Jeff Bezos is considered the most wealth person in the world”
It looks like Amazon isn’t the only one outsourcing work to non-English speakers.
Patriots won’t do Amazon
Bezos is rich enough to tell them to take a hike. He’ll just have Congress allow more illegals to take their jobs.
For the most part, you’re right. The new Walmart+ can work well, depending on what you’re ordering.
And going direct to some companies works well. Ebay works.
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Walmart: fired their entire American back-office staff in Bentonville, AR and replaced them with H1B Indians. Does not ship to the Philippines.
eBay: most items do not ship to the Philippines. Those that do end up being stuck in customs for weeks.
Local variants: Lazada and Shopee are now owned by Alibaba. Will not support a Communist Chinese Company.
Amazon is the lesser of all evils and they ship to the Philippines without customs holds, fees or problems.
“We went to a brick and mortar yesterday, JC Penny.
The section my wife wanted to see used to be the largest in our metro area. Now it’s just a shell of itself. There was a single Penny’s rep on the entire floor, I don’t think. She found some stuff online, and wanted to actually feel the texture.”
Our thug controlled and lived in former mall may still have a JC Penny, Macy’s and ????
We don’t know. We had similar experience that you had about 10 years ago in JCP and Macy’s. Then, two women my wife knows were car jacked in daylight and left standing in the parking lot of that mall. So we stopped going there.
JCP and Sears were Amazon for my mother and her 3 sisters while growing up post depression. They/their mother ordered from the catalog and had it delivered to them or the nearest store.
Lol
I remember the old Sears catalog. It was fun at Christmas time.
Yeah well you definitely see something there that is non-existent imho. It’s FB and Twitter and other social media that are the true fascists.
I remember the old Sears catalog. It was fun at Christmas time.
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Looking at a website and looking for toys doesn’t have feel as looking through the Christmas catalog, page by page in the toy section. Sense of wonder: gone.
thread bump
Covid hysteria leads to lockdowns, store closures.
Amazon thus gains new customers and greater market share than ever.
Amazon owns Washington Post, highly influential newspaper.
Post used to maintain hysteria and policies that benefit Amazon and harm Amazon competitors.
Can call it a conflict of interest or a scam, a racket.
Similar dynamics exist for the tech companies which gain advantage due to continued hysteria and associated policies and practices.
Penneys has been circling the drain for a while. They’ve closed most of their stores, and the rest will be gone soon. Dead company not quite walking.
“I’m not going to slam them as some others seem so intent on doing. Service is key and they are top-notch.”
You’re right. Amazon’s success isn’t an accident for most products they provide some combinatin of more choice, lower prices, and greater convenience than any of their competitors.
My concern is that Amazon’s growth is relentless. It consistenly is expanding by about 20% per year as it eats more and more of our economy. Where does this process stop?
The mention of delivery drivers having more stops and shorter routes in the article is an interesting one. It shows how greater sales bring greater efficiency.
“And they’re also lending us the money to ruin ourselves.”
Sure they own over a Trillion in our Treasuries but personally I am not bothered by their owning it (I am more concerned by the over all level of our debt).
There is a phrase in financial circles which says, “If you owe the Bank a million dollars and can’t pay it back you are in trouble. But if you owe the Bank a billion dollars and can’t pay it back the Bank is in trouble.
In this case China is the Bank and we are the borrower. WE are still the safe haven for the currencies of the world in the event the sh*t hits the fan and any attempt by the Chinese to dump the trillion plus in Treasuries will be depress the selling price and hurt the Chinese while allowing us to buy them back at a discount.
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