Friday, April 21, 2017
Amazon laps Walmart-- twice. Based on share value, Amazon is worth over $430 billion. Walmart is worth $220 billion. It's the "Amazon effect" and its big. General merchandise retail stores like Macy's, Target, and Kohl's are struggling to keep pace with customer's preference for online shopping. The general merchandise retail sector lost 35,000 jobs last month and 90,000 jobs since last October. Amazon just announced that it was hiring 30,000 part time workers, 25,000 for its warehouses and 5,000 in customer service.