BREAKING: Amazon SHUTTING It Down – Bezos Stuns World…

Amazon said Wednesday that it plans to close all of its physical bookstores as well as pop-up locations and 4-star shops as it reshuffles its physical footprint.

The decision impacts 66 U.S. and two U.K. stores, and it wasn’t immediately clear what would happen to employees of the stores slated to close.

Amazon said the employees could receive severance pay or the company would help them relocate within the organization.

Instead of the current retail setup, Amazon will be focusing on its Whole Foods division, convenience-oriented Amazon Go locations, and planned Amazon Style stores focused around fashion offerings.

It’s physical stores are only three percent of its total sales of $173 billion last year, but they have started to decrease after the first few years of novelty, and reflect a growing trend toward online purchasing.

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