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Australian retailers rally as Amazon gets cool reception

Reuters  |  SYDNEY 

By Byron KayeSYDNEY (Reuters) - Inc's Australian arm took its first orders on Tuesday, ending the suspense over its opening date and sending retail stocks higher amid complaints of limited product range and uncompetitive prices on the U.S. e-commerce platform.The cool reception suggests the $550 billion newcomer will need to trim its margins and ramp up stock selection in the world's No. 12 economy, and eased the market's worst fears about its potential to devastate brick-and-mortar incumbents.While was generally competitive on price, analysts found some items were ...

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First Published: Tue, December 05 2017. 11:31 IST