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8/9, 10:01 PM (Source: TeleTrader)
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Amazon to buy mall places to speed up delivery - report

Amazon.com is looking to turn some of the empty mall spaces owned by Simon Property Group Inc. into fulfillment centers, The Wall Street Journal reported on Sunday citing sources familiar with the matter.

The negotiations started months ago, and if they result in a deal, Amazon will benefit from faster delivery with more fulfillment centers close to the residential areas, and Simon would ensure a steady income with a long-term tenant, more poised to thrive amid the coronavirus pandemic, the report read.

Amazon has so far managed to successfully navigate through the crisis caused by COVID-19, reporting a 97.3% jump of its diluted earnings per share in the second quarter of fiscal 2020, compared to the same three-month period a year before.

Breaking the News / BU