NEW YORK (TheStreet) --Amazon.com's (AMZN) subsidiary AmazonFresh is the e-commerce giant's business in which consumers can purchase groceries from their homes and have it delivered directly to them. Now the company may be planning to parallel that service with the utilization of drive-up delivery.
CNCB's Kayla Tausche commented on reports that Amazon is looking to step up its grocery game during Thursday morning's "Squawk Box."
"Amazon may be moving into the new territory of drive-up grocery hubs. Planning documents and local news outlets point to three possible locations for what they're calling the 'Click and Collect' sites. San Carlos, and Sunnyvale, CA, as well as Seattle."
Consumers receiving their groceries through this pickup service would phase out the need for Amazon to deliver perishable items to consumers, Tausche explained.
Shares of Amazon.com opened lower on Thursday morning.
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Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:
We rate AMAZON.COM INC as a Buy with a ratings score of B-. COM INC (AMZN) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, expanding profit margins and good cash flow from operations. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.
You can view the full analysis from the report here: AMZN