Shulou(Shulou.com)11/24 Report--

On the morning of February 14, Beijing time, it was reported that Amazon CEO Andy Jassy had made up his mind to redouble his bet on the troubled grocery store business.

It is reported that Jassi blamed various mistakes in changing his business on the lack of normality during the epidemic, and said the company was ready to "do a big job" in the brick-and-mortar store sector.

Amazon had no immediate comment.

Jassi said in a rare quarterly earnings call earlier this month that the company had suspended the expansion of its Fresh supermarket and cashier-free convenience store until the right way to operate and develop was found.

Mr Jassi's comments suggest that Amazon has not gained a dominant position in brick-and-mortar retail since the closely watched acquisition of whole Foods in 2017. Just a year ago, Amazon said it would close its bookstore business to focus on grocery stores.

So far, the company has closed some grocery stores and made write-downs on some assets. Amazon's chief financial officer said earlier this month that the company received $720 million in fees from these actions in the fourth quarter.

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