Amazon Profits Nearly Triple in Q3 While North America Sales Soar 39%, Postmates Adds Delivery From Local Retailers to App and Online Sales Soar 243% in Albertson’s Q2
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Amazon Profits Nearly Triple in Q3, North America Sales Soar 39%
Amazon.com Inc. registered its most profitable quarter ever in the three months that ended on September 30 as its North America revenue increased by 39.3% year over year amid the surge in online shopping driven by the COVID-19 pandemic, the company announced. Amazon’s sale of merchandise it owns, which it refers to as first-party sales, increased 32.8% globally. Overall, Amazon’s revenue increased 37.4% to a record $96.15 billion. Its net income also set a quarterly record at $6.33 billion, an increase of 197.7% over the third quarter of 2019.
What stood out to us? Amazon Profits Nearly Triple in Q3.
Postmates Adds Delivery From Local Retailers to its App
The app-based delivery service Postmates, best known for offering on-demand delivery from local restaurants and grocery sales, is now delivering non-food products from local retailers. Starting Tuesday in the Los Angeles area, a new function called “Shop” will appear in the Postmates app. Retailers using the service can offer on-demand delivery, in-store pickup or non-contact curbside pickup services. They also can create a virtual storefront in the Postmates app that gives customers access to their products. The virtual storefronts allows retailers configurable catalogs, including high resolution images. Retailers can offer customers delivery through the app.
What stood out to us? Whew! I thought I may need to get off the couch this weekend.
Online Sales Soar 243% in Albertson’s Q2
Grocery chain operator Albertsons Cos. Inc reported online sales grew about 243% year over year during its second fiscal quarter that ended on September 12. Total revenue rose 11.2% to $15.76 billion for the quarter, compared with $14.18 billion during the comparable quarter last year. Albertsons says a 13.8% increase in identical sales drove the revenue increase. Lower fuel sales partially offset the increase. Identical sales also benefited from the growth in digital orders and an increase in sales in stores. “Importantly, all income segments have increased their spend with us. We watched the impact of the recession closely, and we are increasing our traction even with lower-income shoppers, who generally come a bit more often and spend less per trip,” Albertsons CEO Vivek Sankaran said during a call.
What stood out to us? And Albertson’s stock has a nice valuation and dividend.
In the headlines
- Holiday growth: Surge in online holiday shopping will pack 2 years of growth into one season.
- Hiring: Amazon is hiring 100,000 seasonal staff for the holidays.
- Join the club: Amazon Prime has 126 million members in the US.
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