DePalo Foods Strombolis
Beano's - First in Deli. Always Delicious.
Simple done right
Carr Valley Cheese - Taste the story of the most awarded cheese maker in the world
New! Mild Blue Cheese - Born in caves. Today, our cheese are aged in a state-of-the-art facillity in Wisconsin.
Veroni - Authentic Italian charcuterie - 100 Percent Humanly Raised - SFFS Booth number 2719
Amazon Announces 2024 First Quarter Results; Andy Jassy Details

Amazon Announces 2024 First Quarter Results; Andy Jassy Details


SEATTLE, WA
Tuesday, May 7th, 2024

What Amazon plans to do in grocery is a question we here at Deli Market News have long pondered over. So whenever Amazon drops its quarterly results, we check in to see if any nuggets of insight appear about the company’s grocery plans.

The company reported its Q1 2024 financial report last week, in which it outlined impressive growth across its operations. Although Amazon continues to gain in net sales and operating income, most of this growth appears to come from its e-commerce platform—and not yet from grocery.

Andy Jassy, President and Chief Executive Officer, Amazon“It was a good start to the year across the business, and you can see that in both our customer experience improvements and financial results,” said Andy Jassy, President and Chief Executive Officer. “[…] It’s very early days in all of our businesses and we remain excited by how much more we can make customers’ lives better and easier moving forward.”

Within the highlights provided by Amazon, the retailer included one mention of grocery, in which it noted that it launched a grocery subscription for unlimited delivery on orders over $35 from Whole Foods Market, Amazon Fresh, as well as local grocery and specialty retailers.

Amazon recently reported its 2024 Q1 results, noting impressive gains throughout its networkAdditional highlights from the release include:

  • Net sales increased 13 percent to $143.3 billion in the first quarter
  • Operating income increased to $15.3 billion in the first quarter
  • Net income increased to $10.4 billion in the first quarter

To read the release in its entirety, click here.

How will Amazon's grocery strategy eventually play out? We'll keep an eye out.

Amazon
Topics: