Target, Walmart Drop After Amazon Announces 1-Day Prime Shipping
April 26 2019 - 11:29AM
Dow Jones News
By Chris Wack
Shares of Target Corp. (TGT) and Walmart Inc. (WMT) dipped the
day after Amazon.com Inc. (AMZN) announced that its Prime members
would be getting free one-day delivery on most Amazon products.
Target shares were down 5.5%, to $77.21, and Walmart shares were
down 2%, to $101.17, in midmorning trading. The big-box retailers
had been starting to catch up with Amazon's two-day shipping
promise.
Amazon said Thursday the $800 million move to one-day shipping
would add more products and zip codes throughout the world, but the
company didn't say when the policy would be implemented.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
April 26, 2019 11:14 ET (15:14 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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