Amazon — with a $464 billion market cap, which is double the size of Wal-Mart Stores Inc. (NYSE: WMT) and bigger than Procter & Gamble (NYSE: PG and Visa Inc. (NYSE: V) combined — is building at least four massive warehouses to fulfill and deliver bulky products as it pushes harder into the fast-growing online furniture market, The Wall Street Journal reported Friday.
The Journal reported on the Seattle-based e-commerce giant’s push citing unidentified “people familiar with Amazon’s plans.” The report did not say where the warehouses will be located.
Amazon (Nasdaq: AMZN) already has 7,000 employees and big distribution centers in Phoenix and Goodyear. It also has an information technology center at the ASU Research Park in Tempe.
Amazon officials and the company’s primary real estate broker in Phoenix didn’t respond to requests for comment Monday morning.
