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Amazon (AMZN) to Unveil Facility in Texas, Add More Than 500 Jobs
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Amazon.com Inc. (AMZN - Free Report) has announced plans to open its first fulfillment center in Amarillo, TX. This new facility is anticipated to be unveiled in 2022.
The facility will cover an area spanning1 million sqft, in which associates will work on larger-sized customer items such as furniture, outdoor equipment or rugs.
Meanwhile, Amazon has been increasingly investing to build and modernize fulfillment centers, mainly to cut shipping costs and speed up delivery.
Job Creation Continues
The e-commerce giant has been successful in creating multiple job opportunities, while strengthening services all over the world.
The latest center in Amarillo is expected to create more than 500 full-time jobs.
Coming to Texas, the company has been strengthening presence in this state and has already invested millions of dollars. Since 2010, Amazon has created in excess of 70,000 jobs and invested more than $16.9 billion in the state.
The investments have been in multiple fulfillment facilities and cloud infrastructure, among others. Reportedly, these investments have generated an additional 49,000 indirect jobs.
The recent initiative is further expected to complement its robust growth in Texas.
Fulfillment centers help Amazon in storage and shipping of products, in addition to handling returns quickly. In fact, these are important for providing the level of service that customers expect from the company.
In addition, small retailers that are unable to provide relatively cost-efficient shipping are signing up for Amazon’s fulfillment services. Third parties also avail the company’s warehouses and shipping services. These, in turn, help it boost revenues and drive expansion in the long haul.
Although heavy investments in these arrangements (and several other initiatives) keep Amazon’s margins under pressure, these are responsible for the company’s progress. Evidently, Amazon’s retail business is currently unbeatable on price, choice and convenience in the face of fierce competition from Alibaba (BABA - Free Report) and eBay (EBAY - Free Report) , among others.
Furthermore, we believe that Amazon’s long history of execution, growing focus on innovation, technological prowess and huge cash balance not only give it the flexibility to pursue growth in potential areas but also create value for investors.
Long-term earnings growth for Mettler-Toledo is currently projected at 13.8%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Image: Bigstock
Amazon (AMZN) to Unveil Facility in Texas, Add More Than 500 Jobs
Amazon.com Inc. (AMZN - Free Report) has announced plans to open its first fulfillment center in Amarillo, TX. This new facility is anticipated to be unveiled in 2022.
The facility will cover an area spanning1 million sqft, in which associates will work on larger-sized customer items such as furniture, outdoor equipment or rugs.
Meanwhile, Amazon has been increasingly investing to build and modernize fulfillment centers, mainly to cut shipping costs and speed up delivery.
Job Creation Continues
The e-commerce giant has been successful in creating multiple job opportunities, while strengthening services all over the world.
The latest center in Amarillo is expected to create more than 500 full-time jobs.
Coming to Texas, the company has been strengthening presence in this state and has already invested millions of dollars. Since 2010, Amazon has created in excess of 70,000 jobs and invested more than $16.9 billion in the state.
The investments have been in multiple fulfillment facilities and cloud infrastructure, among others. Reportedly, these investments have generated an additional 49,000 indirect jobs.
The recent initiative is further expected to complement its robust growth in Texas.
Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote
Bottom Line
Fulfillment centers help Amazon in storage and shipping of products, in addition to handling returns quickly. In fact, these are important for providing the level of service that customers expect from the company.
In addition, small retailers that are unable to provide relatively cost-efficient shipping are signing up for Amazon’s fulfillment services. Third parties also avail the company’s warehouses and shipping services. These, in turn, help it boost revenues and drive expansion in the long haul.
Although heavy investments in these arrangements (and several other initiatives) keep Amazon’s margins under pressure, these are responsible for the company’s progress. Evidently, Amazon’s retail business is currently unbeatable on price, choice and convenience in the face of fierce competition from Alibaba (BABA - Free Report) and eBay (EBAY - Free Report) , among others.
Furthermore, we believe that Amazon’s long history of execution, growing focus on innovation, technological prowess and huge cash balance not only give it the flexibility to pursue growth in potential areas but also create value for investors.
Zacks Rank & Stock to Consider
Amazon currently has a Zacks Rank #3 (Hold). A better-ranked stock in the broader technology sector is Mettler-Toledo International, Inc. (MTD - Free Report) , holding a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Long-term earnings growth for Mettler-Toledo is currently projected at 13.8%.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.
Click here for the 4 trades >>