Amazon’s tech is the mall infrastructure of the future, Stop here and ask one question, “What would an entire mall running on Amazon’s tech stack look and feel like?”, And, then ask, “How much would you love it?”. Amazon is reportedly in talks to buy JC Penney, according to rumors started by a publication called WWD. Statista also startingly estimates that there are roughly 116,000 shopping malls spread across the entire U.S., say nothing of those abroad. We also use third-party cookies that help us analyze and understand how you use this website. Because remember — Amazon is an infrastructuralist. But opting out of some of these cookies may affect your browsing experience. Neither JCPenney nor Amazon had any comment to reporters on the issue. I almost never get the question: 'What's not going to change in the next 10 years?' HOW WE SHOP – TUESDAY, NOVEMBER 10, 2020 – 12:00 PM (ET), Pandemic Converts Telemedicine Skeptics Into Users, Airports Expand Range Of Digital Identity Technology, Today In Retail: Wayfair Exceeds Estimates; Carvana Sales Surge; SA Company Pivots With Pandemic, FTC Refunds $12M To Consumer Victims Of Bogus Online Trial Memberships, Bitcoin Daily: FalconX Notches $17M In Funding; Venezuelans Now Can Use Bitcoin At POS Terminals. Amazon has been hit by rising delivery costs that it’s absorbed in order to keep up with its rivals like Wal-Mart (NYSE: WMT) that offer more payment and return options. These cookies do not store any personal information. This is a common practice when a company officially files for bankruptcy. Amazon could be interested in buying all or part of the J.C. Penney chain, according to a report Monday from Women’s Wear Daily. Your email address will not be published. Amazon Go (see video above), GH Lab, Amazon return processing at Kohl’s, robots running warehouses, etc. “There is a dialogue and I’m told it has a lot to do with Amazon eager to expand its apparel business — for sure.”. As a result, Amazon may not expand its brick-and-mortar footprint. Necessary cookies are absolutely essential for the website to function properly. According to one unnamed source, Amazon already has a “team in Plano (TX),” where Penney is headquartered. While it may have…. “Penney’s has about 30 freestanding locations with a lot of land, which could be converted,” the source said. It was also suggested that Amazon is in talks with other mall owners regarding former JC Penney stores with a view to using the space for its upcoming grocery project. Well, there’s an Amazon return desk for that. Pushed down by the coronavirus crisis, JCP stock is now trading below 20 cents per share. “Penney’s has about 30 freestanding locations with a lot of land, which could be converted. “There is an Amazon team in Plano as we speak,” the Women’s Wear Daily report said. Big winners pay for so many experiments.”. You also have the option to opt-out of these cookies. Bringing JC Penney back from the dead seems nearly impossible. It is mandatory to procure user consent prior to running these cookies on your website. In May JC Penney, which has been trading for 118 years, announced plans to file for Chapter 11 bankruptcy and offload 30 per cent of its store estate. Amazon has been exploring a large-scale venture into physical retail for some time, and according to the source the locations could become “a new tech-driven retail model”. While it may have…. They will just take on new forms. Report has Amazon in talks with J.C. Penney; bankrupt chain to close 242 stores By Marianne Wilson - 05/18/2020 Get great content like this right in your inbox. But, can Amazon do it? The ideas posited on both sides all have merit, if Amazon were a normal company, but Amazon is anything but normal. Based on JC Penney’s rhetoric when it filed Chapter 11, it didn’t appear that the company was up for sale. Together, these two data points illustrate something profound — that the modern day mall is moving far beyond just being a physical outlet for shopping. It goes against conventional opinion. Amazon’s apparel has been gaining popularity over the past year, and the stores would give customers the opportunity to see the merchandise and try it on. Think of it this way: Glass of wine. I also sit on the advisory boards of Xenia Retail and Delivery Solutions. Well, there’s an onsite automated Amazon logistics service for that. Amazon in talks to buy bankrupt JC Penney’s store estate, Amazon forced to withdraw Black Friday discount advertising in France due to lockdown, Walmart drops roving robots for inventory tracking, Apple announces secretive ‘One More Thing’ event, Ocado raises FY expectations, announces nearly $300m of new acquisitions, Walmart launches four new omnichannel test stores with ‘rapid prototype’ approach, Alibaba more than doubles duration of ‘Singles Day’ shopping festival, Co-op is partnering with Deliveroo to distribute surplus food to vulnerable families, Amazon shares dip 2% despite record quarter as it warns Christmas deliveries will be “tight”, Pinterest founders pocket $750m as share prices skyrocket 32%, Why Amazon Prime Day may have ruined the Golden Quarter for UK retailers. As of this writing, she did not hold a position in any of the aforementioned securities. 10th August 2020. But the coronavirus, as CEO Jill Soltau said in a statement, had created “unprecedented challenges” for employees and their families and thus forced the company to make difficult decisions, even in light of what she said were improvements in the company prior to the pandemic. Contrast that with other encouraged acquisition targets — Target ($59.0 billion), Kohl’s ($3.0 billion), or even Dollar General ($47.0 billion), and, yes, they are each better businesses than J.C. Penney, but what does Amazon stand to gain with any of them? Get our hottest stories delivered to your inbox. READ MORE: Amazon in talks to buy bankrupt JC Penney’s store estate It was also suggested that Amazon is in talks with other mall owners regarding former JC Penney stores with a view to using the space for its upcoming grocery project. Whether it can or it cannot, that is not the point. If Amazon wants to buy a department store for any reason, this is the time for it to pull the trigger. While the number of … Well, there’s an Amazon e-commerce platform for that. Acquiring J.C. Penney is bold. And that is a very interesting question; it's a very common one. According to the U.S. Securities and Exchange Commission, that would bring the number to 604 total, Fox Business reported. It is mandatory to procure user consent prior to running these cookies on your website. JCPenney is also expected to have more store closings. Since the rumor debuted, pundits galore have come out of the woodwork to give their take on the possible business arrangement. Editorial: 0208 222 0503 We'll assume you're ok with this, but you can opt-out if you wish. But opting out of some of these cookies may affect your browsing experience. While traditional brick-and-mortar retailers have struggled to transition to an online model, Amazon would be doing it the other way around.But enticing customers into stores wouldn’t be as difficult if the firm was using the locations to give products to online shoppers. What the shopping mall of the future looks like isn’t as important to Amazon as being the backbone of its expression. But the rumors do highlight just how appealing JC Penney likely looks to anyone looking to gobble up some retail space. The takes on the con side of the argument range from there being better options out there (see Kohl’s and Target), while, on the plus side, they center on everything from Amazon getting into the apparel business, turning J.C. Penney stores into distribution facilities, to securing a stronger foothold into the beauty business by way of Sephora. Editorial: 0208 222 0503 This website uses cookies to improve your experience while you navigate through the website. © 2020 Copyright Charged. The Plano-based department store chain, which has 846 department stores and 85,000 employees, filed for bankruptcy Friday. Amazon could buy JC Penney’s entire 846 store estate as the US department store struggles to keep its head above water after it filed for Chapter 11 bankruptcy reorganisation.

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