NEW YORK (TheStreet) -- Shares of Amazon.com (AMZN) - Get Report were lower in mid-morning trading on Thursday as the company looks to open 2,000 new AmazonFresh-branded brick-and-mortar grocery stores in the U.S. over the next decade, sources say, Business Insider reported.
The e-commerce company hopes to open 20 new pilot locations in the next two years alone in cities like Seattle, Las Vegas, New York and Miami, according to internal company documents cited by Business Insider.
Of the 20 new stores slated to launch by year's end 2018, 10 will be drive-up locations for users to pick up online orders while the other 10 will be traditional grocery stores.
If the first 20 locations are successful, in the following years Seattle-based Amazon.com could launch as many as 200 stores annually to reach its 2,000-store goal, according to company documents.
Additionally, yesterday Amazon.com said it would expand its AmazonFresh grocery delivery program to Chicago and Dallas. The service is already available in Seattle, New York City, Philadelphia, Los Angeles, San Francisco and other U.S. cities.
The service costs $14.99 per month on top of the annual $99 Amazon Prime membership fee.
Amazon.com will report 2016 third quarter earnings after today's closing bell. Analysts are looking for earnings and revenue to climb year-over-year.
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Separately, 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 rated this stock as a "buy" with a ratings score of B-.
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