Amazon is closing all of its physical bookstores

Key Facts

• The e-commerce giant confirmed Wednesday that it is closing 68 retail locations, including all of its Amazon (AMZN) Books stores, as part of a broader shift in its bricks-and-mortar retail strategy.
• In addition to the bookstores, Amazon is also closing two other physical retail concepts: Its “4-star” stores, which sold products that had high customer ratings, and its Pop Up stores.
• Instead, Amazon said it’s planning to “focus more” on other physical retail efforts, including its dedicated stores for groceries, Amazon Fresh and Whole Foods, as well as its recently launched apparel shop, Amazon Style.
• In 2017, Amazon announced it would buy Whole Foods and, with it, the supermarket chain’s hundreds of grocery stores.

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