For years, the e-commerce giant has been working with branding consultants and manufacturers to develop its own private-label brands. It appears that the company is finally ready to launch the offerings as early as the end of this month or the beginning of June, the Wall Street Journal reports.
Some of the new brands will have names like Wickedly Prime, Mama Bear, and Happy Belly. Several examples of products that will be offered are spices, tea, coffee, baby food, diapers and laundry detergents.
However, when asked about the upcoming launch, Amazon.com said "We don't comment on rumors or speculations," Reuters noted.
Last week, the company rolled out a new video service that will feature user-generated content, putting it in a better position to take on its competitor Alphabet's (GOOGL) YouTube.
Shares of Amazon.com are slipping 0.84% to $703.98 on Monday morning.
(Amazon.com is held in the Growth Seeker portfolio. See all holdings here.)
Separately, TheStreet Ratings team rates the stock as a "buy" with a ratings score of B-.
Amazon.com's strengths such as its impressive record of earnings per share growth, compelling growth in net income, robust revenue growth, expanding profit margins and solid stock price performance 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
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 article's author.