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10/1, 2:54 PM (Source: TeleTrader)
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Amazon preparing to launch grocery stores in 3 US cities - report

Amazon.com Inc is planning to open grocery stores in three American cities, the Wall Street Journal reported on Tuesday citing people familiar with the matter.

According to the sources, the tech giant intends to open its first grocery stores in Los Angeles, Chicago and Philadelphia and already "signed more than a dozen leases" in Los Angeles. The first stores are likely to open in suburban areas including Woodland Hills and Studio City.

First reports about Amazon's grocery store plans emerged in March, when media reported the company is likely to open its first Los Angeles stores before the end of the year and also wants to expand its chain of stores across the United States, to cities including San Francisco, Seattle, Chicago, Washington, and Philadelphia.

Breaking the News / NP