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25.06.2020

Amazon expands its Australian operations

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Amazon stocks shed 1.09% overnight amid a widespread risk aversion on Wall Street and globally

Stocks impacted: Amazon Inc (AMZN)

The retail giant plans to build one of the country’s biggest warehouses in Western Sydney. According to industry sources, Amazon would build a $500 million, four-level warehouse with as much space as 27 football fields in Kemp’s creek. The company’s reported expansion plan comes on the back of surging online sales as consumers shift to e-tailing due to the COVID-19 pandemic. Earlier this month, Amazon had announced the opening of its first Queensland fulfilment centre in Brisbane later this year. Yesterday, Amazon and the business support network Enterprise Nation announced a launch of the Amazon Small Business Accelerator, a major support package for more than 200,000 small businesses and startups across the UK. Amazon stocks shed 1.09% overnight amid a widespread risk aversion on Wall Street and globally.

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