Amazon is planning to sublease some of its warehouse space now that the pandemic-fueled surge in online shopping, which helped the e-commerce giant rake in soaring profits in the past two years, has eased.
Subleasing allows the company to “relieve the financial obligations associated with an existing building that no longer meets” its needs, Amazon spokesperson Alisa Carroll said.
Carroll didn’t disclose how much space the company plans to sublet. But citing anonymous sources, Bloomberg News and The Wall Street Journal reported earlier that the retailer would sublease at least 10 million square feet of space and could end more of its leases in states including New York, New Jersey and California.
Seattle-based Amazon doubled the size of its operations during the pandemic, adding more warehouses and workers to keep up with demand from homebound consumers who felt more comfortable buying things online. But as the worst of the pandemic eased, it found itself with too much warehouse space and too many workers.
“Subleasing is something many established corporations do to help manage their real estate portfolio,” Carroll said.
Last month, the company reported its first quarterly loss since 2015, fueled by the e-commerce slowdown and a massive write-down of its investment in the electric-vehicle startup Rivian Automotive. In a statement released last month with its earnings results, CEO Andy Jassy said the company was now focused on improving productivity.
The owner of a rural English pub says he was asked to change the bar’s name by a fashion magazine because of the village where it’s located: Vogue.
Mark Graham, who runs the Star Inn at Vogue, said he received a letter from British Vogue publisher Conde Nast, saying the name could “cause problems” because members of the public might confuse the two businesses.
He said the letter from Sabine Vandenbroucke, chief operating officer of Conde Nast Britain, asked if he would change the name, adding: “Please reply within seven days or we will take remedial action.”
Graham stood his ground.
“There’s always too much a case of the big boys trying to stomp on the little boys, and as soon as I realized what they were trying to do, I went ‘you’re not having me, my handsome,’” he told broadcaster ITV.
He sent a reply noting that the village, in Cornwall county about 250 miles (400 kilometers) southwest of London, is considerably older than the magazine, whose British edition was founded in 1916.
“I presume that at the time when you chose the name Vogue … you didn’t seek permission from the villagers of the real Vogue,” he wrote.
“In answer to your question whether we would change our name, it is a categorical NO.”
Graham said that on Friday he received another letter from Conde Nast saying that it regularly monitors use of the name Vogue but acknowledging that “we did not need to send such a letter on this occasion.”
A Nepali Sherpa broke her own record as the most successful female climber of Mount Everest by reaching the summit of the world’s highest peak Thursday.
Lakpa Sherpa and several other climbers took advantageof favorable weather to reach the 8,849-meter (29,032-foot) summit early in the morning, her brother and expedition organizer Mingma Gelu said. He said she was in good health and was safely descending from the peak.
Sherpa, 48, never got a chance to get a formal education because she had to start earning a living by carrying climbing gear and supplies for trekkers. Thursday’s successful ascent was her 10th — the most times any woman has climbed Everest — and she has always said she wanted to inspire all women so they too can achieve their dreams.
A native of Nepal, Sherpa lives in the U.S. with her three children in West Hartford, Connecticut.
Another Nepalese Sherpa guide, Kami Rita, reached the summit for the 26th time Saturday, breaking his own record for the most climbs of Everest. Rita led a group of Sherpa climbers who fixed ropes along the route so that hundreds of other climbers and guides can make their way to the top of the mountain later this month.
Hundreds of foreign climbers and an equal number of Sherpa guides are set to attempt climbs of Everest in May, the month when weather conditions in the Himalayan peaks are most favorable for climbing.