E-commerce and technology giant Amazon.com reported its 2020 second quarter financial results on July 30, showing that sales for the April-June period jumped 40% year-over-year and were up more than 13% from Q1 as consumers and businesses increasingly relied on online shopping amid the COVID-19 pandemic and resulting stay-at-home orders.
In its earnings conference call with analysts that same day, the company revealed that it plans to continue its aggressive physical expansion — far outpacing that of 2019.
In the call, Amazon CFO Brian Olsavsky said that Amazon will grow its network square footage — which is the space occupied by the company’s fulfillment and distribution centers, offices, grocery stores and other physical properties — by 50% in 2020. Amazon expects most of that expansion to occur in late Q3 and Q4.
That would far exceed the 15% network square footage expansion the company made in 2019, according to Olsavsky.“This includes strong growth in new fulfillment center space as well as sort centers and delivery stations,” the CFO said.
Source: Amazon Expects to Grow Its Physical Space by 50% This Year | Industrial Distribution