Amazon To Open Brick-&-Mortar Store
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NEW YORK (AP) - Amazon is planning to open its first physical store.
That's according to a report in The Wall Street Journal that said Thursday the largest U.S. e-commerce retailer will open a store in Manhattan ahead of the holiday shopping season. It cites anonymous sources familiar with the matter.
It is not clear if the store will be permanent or a holiday pop up. The newspaper says the store could function as a warehouse and a showcase for inventory.
Amazon has never opened a brick-and-mortar store but has installed pick-up lockers in major cities. It has been investing heavily in the speedy fulfillment of orders, including adding six new distribution centers and about 15 sortation centers before the holidays. It operates 40 total distribution centers in the U.S.
Seattle-based Amazon said it has made no announcements about a location in Manhattan.
Shares fell $7.33, or 2.3 percent, to $315.37 amid a broader market sell-off on Thursday.
(© Copyright 2014 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
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