Amazon jumps following report it is planning to increase Entire Meals throughout the US (AMZN)

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  • Amazon rose early Monday after a report stated it was planning to open extra Entire Meals shops throughout the US to position extra clients inside vary of Prime Now’s two-hour supply service.
  • The report didn’t element precisely what number of Entire Meals shops Amazon was planning to open and increase.
  • Watch Amazon commerce reside.

Amazon rose greater than 2% early Monday, to greater than $1,509 a share, after a report stated it deliberate to open extra Entire Meals areas throughout the US.

The push would place extra clients inside vary of Amazon’s two-hour supply service, Prime Now, The Wall Road Journal reported, citing individuals accustomed to the plans. 

Each retailers declined to remark to The Journal on new retailer development and spending, although one particular person accustomed to the plans stated Entire Meals staff have visited “potential retail areas in components of Idaho, southern Utah and Wyoming, the place the grocery store doesn’t have shops now.”

Learn extra: Amazon has plans to open much more Entire Meals shops, and it reveals the e-commerce large has no intention to decelerate its push into bodily retail

Entire Meals at the moment has greater than 350 retail and non-retail areas within the US, Canada, and the UK. Amazon purchased Entire Meals in 2017 for $13.5 billion after Entire Meals had courted seven potential companions for a deal.

Amazon shares have climbed 25% in 2018, although they’re down 28% since hitting an all-time excessive of $2,zero50.50 in early September.

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Now learn:

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