Amazon Closes Physical Stores

Amazon is closing all its Amazon Go and Amazon Fresh stores.

The company says it wants to focus more on delivering groceries to people's homes and on its Whole Foods Market stores.

Some of the closing stores might become Whole Foods Market stores.

Amazon will keep delivering groceries to many cities and towns.

They are also planning to open a new big store called a 'supercenter' and are testing a new store format called Amazon Grocery.

Amazon started Amazon Go in 2018, where people could just take items and walk out without checking out.

They learned a lot from these stores and will use that knowledge in other places.

Amazon's stock was up 2% to around $243 in early afternoon trading, while the S&P 500 was up 0.5%.

The stock is up about 5.5% this year and up 2.2% over the past 12 months.

Walmart’s stock was down 0.5% in afternoon trading, while Instacart was down nearly 6%.