- Amazon.com Inc (NASDAQ:AMZN) has suspended the construction of new warehouses in Spain until 2024.
- Amazon told its providers and partners to "wait and see" as pandemic-driven online shopping has slowed down while acknowledging its commitment to Spain, Reuters reports citing news website El Confidencial.
- "In 2022, we have opened new logistics stations, Amazon Fresh hubs, and a logistics center (in Spain)," Amazon said.
- Earlier, Amazon shared plans to add 2,000 new jobs in Spain in 2022, taking its total payroll to 20,000.
- Amazon abandoned many existing and planned facilities around the U.S. due to slow sales growth.
- Amazon decided not to open 42 facilities spread across 25 million square feet of usable space and delayed opening an additional 21 locations, making up about 28 million square feet.
- Amazon also planned to shut down delivery stations in Hanover and Essex, near Baltimore.
- Amazon sought to sub-lease at least 10 million square feet of warehouse space.
- Amazon said it expects-third quarter net sales to be in a range of $125 billion to $130 billion, up 13% to 17% year-over-year against the consensus of $126.4 billion.
- Price Action: AMZN shares traded lower by 0.20% at $123.28 on the last check Monday.
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