HomeTrading GuidanceAmazon (AMZN) Stock Rose On Aircraft Purchase News, Tiffany (TIF) Stock Stable...

Amazon (AMZN) Stock Rose On Aircraft Purchase News, Tiffany (TIF) Stock Stable Despite Record Revenue

The U.S. e-commerce giant Amazon is going up a notch and confirmed the first aerial procurement for its ‘home’ fleet yesterday. In order to satisfy service obligations for ultra-fast delivery, Amazon Air is therefore giving itself an increased degree of leverage over its network by buying the aircraft in its fleet now. Taking advantage of the market downturn, Amazon bought 11 Boeing 767-300s, seven from Delta Air Lines and four from Canadian WestJet. Third-party airlines will fly the aircraft. Amazon added that this year WestJet’s aircraft would be upgraded to the cargo configuration necessary and incorporated into the Amazon Air network. Next year, Delta’s older aircraft will enter operations.

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“Our goal is to continue to deliver our customers across the U.S. as they expect from Amazon, and buying our own aircraft is the next realistic step toward this goal,” said Sarah Rhoads, vice president of Amazon Global Air.

The New York jeweler Tiffany, whose integration with the French LVMH will be completed tomorrow, declared yesterday on Tuesday a record turnover for the holiday season, with an apparent spike in online revenue, but also a large increase in sales in mainland China. For the duration from November 1 to December 31, the U.S. firm posted net revenue up 2 percent, according to preliminary results. Online sales have increased by more than 80%, while net sales in the Asia-Pacific region have increased by 20%, with a result in China of more than 50%. Japan has climbed 8%.

The company’s managing director, Alessandro Bogliolo, is delighted with this development led by China. Overall, in the light of a worldwide pandemic, these holiday sales are an all-time record for Tiffany, that marks a significant success, company said in a release.

However, net revenues in the Americas as well as Europe declined by -5 percent and -8 percent respectively.

The American shareholders approved a new merger plan from the French luxury conglomerate LVMH for $15.8 billion at a general meeting on December 30, $400 million less than the first offer. Companies are set to be completing the transaction on Thursday, January 7, 2021.

Shares of Amazon.com, Inc. (AMZN) were up +1% on Tuesday to close the trading at $3218.51 while that of Tiffany & Co. (TIF) was stable at $131.43.

Melanie Gerald
Melanie Gerald
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