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Amazon (AMZN) to Open New Facility in Sioux Falls, Add 1K Jobs

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Zacks Equity Research
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Amazon AMZN has one of the most advanced fulfillment networks in the world and has been making regular efforts to maintain its dominance.

It recently announced plans to open a new fulfillment center in Sioux Falls, SD.

It will be recruiting approximately 1,000 full-time employees for the 640,000-square-foot fulfillment facility to pack small boxes and make timely deliveries.

The company has been increasing investments in fulfillment centers on a worldwide basis. Since 2010, it has invested more than $1 million in South Dakota, including investments in varied infrastructure and as compensation to employees in the state.

Meanwhile, Amazon has been increasingly investing to build and modernize fulfillment centers, mainly to cut shipping costs and speed up delivery.

Amazon.com, Inc. Price and Consensus

Amazon.com, Inc. Price and Consensus
Amazon.com, Inc. Price and Consensus

Amazon.com, Inc. price-consensus-chart | Amazon.com, Inc. Quote

Bottom Line

Growth of the e-commerce industry, with consumers increasingly buying things online, is working in favor of the company. Product offerings, superior user experience, bargains and customer feedback have helped it to build a strong position in the fast-growing e-commerce market.

The National Retail Federation predicts holiday retail sales for November and December to reach $755.3-$766.7 billion, indicating an increase of 3.6% and 5.2% (excluding automobiles, restaurants and gasoline), respectively, from 2019. Online and other non-store sales are expected to grow 20-30% from a year ago. It appears that Amazon is set to take advantage of the situation.

While big brands may build their own online stores over time, smaller players are far more dependent on Amazon as they don’t have the resources to invest in technology and fulfillment to get the kind of reach that Amazon has.

Zacks Rank & Stocks to Consider

Amazon currently has a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader technology sector include The Trade Desk Inc. TTD, Dropbox, Inc. DBX and Inuvo, Inc. INUV, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Long-term earnings growth for The Trade Desk, Dropbox, and Inuvo is currently projected at 25%, 40.9% and 30%, respectively.

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Amazon.com, Inc. (AMZN) : Free Stock Analysis Report
 
Inuvo, Inc (INUV) : Free Stock Analysis Report
 
The Trade Desk Inc. (TTD) : Free Stock Analysis Report
 
Dropbox, Inc. (DBX) : Free Stock Analysis Report
 
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Zacks Investment Research