Amazon results could bode well for rival retailers Walmart, Target


Amazon’s strong quarterly results are one more sign that Americans are still shopping, despite months of ominous economic indicators, and could be a positive signal for Walmart and Target, who report next week.

Amazon’s performance following its Prime Day was a “good read for discount retailers,” however, said Joseph Feldman, an analyst with Telsey Advisory Group. “I think that value-based retailers like Walmart and Target” will hold up better than others, he said.

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