By Charles Iddenden
Amazon CEO Andy Jassy has admitted that the US retail giant still hasn’t nailed down a successful model when it comes to the grocery sector.
The company has paused expansion of its Fresh supermarkets and cashier-less convenience stores until it finds the right recipe for success, Jassy said in a rare appearance on the company’s quarterly results call on Thursday.
Despite Jassy’s comments, two new stores were opened in Croydon and Monument last month.
Jassy admitted that what Amazon needs is to find a distinctive store format that performs well financially before embarking on a major expansion, a formula it hopes to find this year.