Amazon Says It Profits as Brick-and-Mortar Stores Lock Up Products to Curb Theft

Published on August 3, 2024

Amazon CEO Andy Jassy said that the company’s online pharmacy business has gained customers who are frustrated by locked-up products in physical drug stores, a measure many retailers have taken to prevent theft. Jassy made the remarks on an earnings call with investors and reporters on Aug. 1 after the e-commerce giant released its second-quarter results, which showed a boost in profits but a miss in its revenue estimates. When discussing future earnings prospects, Jassy highlighted his belief that Amazon’s focus on making the online shopping experience smoother would translate into strong growth for the company’s online pharmacy business....

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