Apr 30, 2021
Amazon hopes pandemic habits stick after profits triple
The pandemic could herald "a golden age" for Amazon, one analyst said. The Amazon group has continued to spread its reach into automated grocery stores, online healthcare services, even experimenting with a bricks-and-mortar hair and beauty salon in London. Nicholas Hyett, Equity Analyst at Hargreaves Lansdown said Amazon's results were "Stellar" particularly given the extra costs associated with doing business during the pandemic. Amazon said although the pandemic was receding in some markets it expected its sales and profits to continue to grow, and it still expected a further $1.5bn costs related to Covid-19. The group will continue to extend its range of shopping services and platforms, including Amazon Scout, a fully electric autonomous delivery system that "Rolls down the sidewalk at walking pace and delivers items right to customers".
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