UNITED STATES - Could Amazon’s next acquisition already be in the wings? The e-tail giant rocked the world when it acquired Whole Foods in 2017 and as an industry, we may need to batten down the hatches for another earth-shattering event. People familiar with the matter reported that Amazon may be considering J.C. Penney as its next step toward retail domination.
The original report, found on Women’s Wear Daily (WWD), stated that Penney’s—which is currently looking at shutting down 200 stores—is considering options as it faces bankruptcy. One such option is selling its operations, and Amazon is a contender for part of the chain’s assets—or all of them.
“There is an Amazon team in Plano, Texas, as we speak,” remarked one source to WWD, who does business with Amazon. “There is a dialogue [….] This could be a new tech-driven retail model.”
Many have speculated as to what Amazon would do with the J.C. Penney’s sites. It’s possible that the e-tailer could convert certain locations to expand its Amazon Go model; or, Amazon could use sites as distribution centers. The source noted that J.C. Penney currently has about 30 freestanding locations with a lot of land, which could easily be converted for Amazon’s purposes.
Currently, Amazon has made no comment regarding its interest in the chain.
Are we about to witness another retail seismic shock? AndNowUKnow will keep you clued in.
