Amazon, a digital retailer and cloud service provider, has announced that it will try to help Americans in need in the current crisis caused by the pandemic, foreign media reported.The company said it has delivered about six million pounds of food to people in need since the outbreak of the new coronavirus pandemic, and confirmed its plans to continue delivering these foods in the summer.
Amazon plans to provide an extra 1 million meals to families, the elderly and other Americans in need
Amazon has delivered about 7 million pounds of food to 25 cities since the outbreak. The aim of the service is to ensure that the food bank does not run out of stock, while the company's delivery trucks can deliver food directly to customers' homes. These deliveries are done through the company's flex network, and Amazon has worked with other express delivery partners in the process.
The express service began in March, when the company launched the program and, in the process, provided food, masks and equipment to school systems in Portland, Seattle and Los Angeles. The United States, Japan, Australia and Europe are currently experiencing the economic damage caused by the pandemic, and Amazon has provided part of a $100 million rescue effort to protect those most affected.
In addition to U.S. cities, Amazon also provides food for people in other international cities, such as Melbourne, Tokyo, Madrid, Valencia and London; previously, the company worked with a British charity to provide breakfast for children who might be affected by the epidemic through schools.
The company also plans to deliver another 1 million meals in August, bringing its total to 7 million. It is understood that Amazon's takeout service covers Phoenix, Miami, Orlando, Cincinnati and Houston.
Today's announcement comes as the company's earnings report for the second quarter of 2020 comes out. Analysts generally expect Amazon's revenue to grow, but this is not expected to translate into significant profit growth due to the increased costs of responding to rising demand for retail and cloud services.
Amazon / Amazon has been optimistic about the stock market for the time being and is trading above the $3000 level. Amazon's target share price has been rising, most recently from the Telsey advisory group. Telsey's new target price of $3800 a share reflects its optimism about demand for necessities and other products that it believes will go directly into Amazon's arms.