Cowen 'Bullish' on Amazon's Hiring Blitz as Growth 'Indicator'
Amazon's continued hiring blitz is a “bullish indicator,” Cowen analyst John Blackledge wrote investors Friday. The company recruited 500,000 new employees last year to keep pace with the COVID-19 “pandemic-driven demand surge” and to help staff a 50% increase in…
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its fulfillment and logistics network, he said. Amazon's continued investment in fulfillment head count “underlines the continued strong eCommerce demand,” said the analyst. Cowen’s April consumer tracker survey showed 34% of 2,500 respondents increased their online spending, consistent with 35% in March. Cowen is “especially encouraged by the strong eCommerce spending in spite of respondents’ increased comfort around returning to physical venues.”