Amazon recently announced a net loss of nearly $4 billion in Q1 2022 despite a 7% increase in net sales.
In a statement, CEO Andy Jassy pointed to ongoing challenges such as the pandemic and the war in Ukraine.
However, he remained optimistic thanks in part to Amazon’s efforts to double the size of its fulfillment network over the last two years. It now reportedly has more than 1,100 warehouses throughout the U.S.
“Today, as we’re no longer chasing physical or staffing capacity, our teams are squarely focused on improving productivity and cost efficiencies throughout our fulfillment network,” he added.
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