uploads/2019/03/Etsy.jpg

Are Bezos Rumors Starting to Affect Amazon?

By

Updated

Amazon canceled expansion plans for New York City

In January, the National Enquirer published details of an alleged affair between Jeff Bezos and news anchor Lauren Sanchez. But Bezos read saw mischief in the tabloid’s reporting, wondering whether there was a political motive behind the rumors.

In the same month, Amazon (AMZN) announced that it had decided not to proceed with plans to build its second corporate headquarters in New York City. Amazon had selected Queens and Arlington County, Virginia, to host two HQ2 campuses it said would involve $5.0 billion in investments and create over 50,000 jobs.

Mayor links Amazon’s move to Bezos’s woes

In a recent television interview cited by Politico, New York City mayor Bill de Blasio implied that, in addition to the public protests against Amazon corporate campus plan in Queens, Bezos’s alleged affair might have been behind Amazon’s decision to cancel its expansion plans.

Amazon’s revenue rose 20%

Amazon’s revenue rose 20% YoY (year-over-year) to $72.4 billion in last year’s fourth quarter. Meanwhile, Alibaba’s (BABA), Shopify’s (SHOP), and eBay’s (EBAY) revenue grew 41%, 54%, and 6.0% YoY, respectively, and Groupon’s (GRPN) fell 8.0% YoY.

More From Market Realist