Amazon’s Q2 top line falls short of estimates

Amazon released a sustainability report for 2020. Inc. fell short of median revenue estimates in the second quarter as more Americans got vaccinated, returned to stores and generally spent less time shopping on their devices.

The world’s largest e-tailer reported diluted earnings per share of $15.12, handily beating the median estimate of $12.22, the company said late Thursday.

However, Amazon (NASDAQ:AMZN) reported revenue of $113.08 billion, slightly below the estimate of $115.07 billion. The year-over-year growth rate, which had...

Global logistics warehouse demand to surge through 2024, JLL says

Worldwide demand for logistics warehousing, already at elevated levels, will continue to surge at least through 2024 as more space will be needed to support growth in multiple industries, notably e-commerce, according to a survey published Wednesday by real estate services giant JLL Inc. (NYSE:JLL)

The survey of 720 logisticians across 43 countries and territories underscores the notion that logistics warehousing growth is a global phenomenon and that demand, which in some regions like the U.S....

Prologis sees record rent growth for logistics space

Logistics real estate market tightens further

Management from logistics real estate investment trust Prologis Inc. (NYSE: PLD) on Monday raised the company’s 2021 rent growth forecast by 40 basis points to 10.3% in the U.S and by 300 bps to 8% globally.

Rents in the U.S. were up nearly 7% in the first half of the year, which was a record.

“There’s an ability to push through pricing today,” Hamid Moghadam, chairman and CEO, said on a call with analysts. “You have retail sales jump 20% from pre-pandemic levels and a supply chain that’s drying...

Prologis sees logistics real estate markets tighten further in Q2, raises guidance

Logistics spaces remain tough to find in many markets

Prologis Inc. (NYSE: PLD) reported Monday that logistics real estate markets tightened further during the second quarter. The San Francisco-based logistics real estate investment trust posted core funds from operations (FFO) of $1.01 per share in the quarter before the market open, 2 cents per share ahead of forecasts.

“Demand for logistics space is robust and diverse, and operating conditions remain the healthiest in our 38-year history,” said Hamid R. Moghadam, chairman and CEO. “Vacancies in...

Walmart moves robotics strategy from in-store to distribution centers

Late last year, Walmart severed what was to be a five-year partnership with Bossa Nova Robotics. Less than a year into the alliance, Walmart said human resources were just as capable and efficient as their robotic counterparts when it came to optimizing the stocking of shelves in its stores. 

In that announcement, Walmart said it would continue experimenting with robots within its stores in order to keep up with the e-commerce demand it had been experiencing throughout the pandemic.

While the...

Trucking jobs finally show strong growth, both seasonally and not seasonally: BLS

The push to bring in more truck drivers may be starting to yield results.

In the June employment report released Friday morning by the Bureau of Labor Statistics, total jobs in truck transportation on a seasonally adjusted basis rose 6,400 jobs in June to 1,486,500 jobs. That figure in recent months has risen by only a small amount or in some cases declined, despite the help wanted signs, higher pay and sign-on bonuses in truck carriers all over the country.

The number for not-seasonally adjusted...

Georgia Ports Authority nets $47M federal grant for inland container port

Efforts to expand the supply chain infrastructure supporting the busy Port of Savannah got a boost this week from the federal government.

The Georgia Ports Authority, which manages operations at the Port of Savannah, received a nearly $47 million federal grant to build an inland container port near Gainesville, Georgia. The inland port, which will be located along the I-85/I-985 corridor, will be linked to the Port of Savannah by a direct 324-mile intermodal freight rail service as a part of a...

Logistics Tech Summit: Labor shortage, space constraints challenge warehousing industry

Logistics Tech Summit

This fireside chat is from FreightWaves’ North American Logistics Tech Summit on Wednesday.

FIRESIDE CHAT TOPIC: The future of your average warehouse 

DETAILS: Innovation is key to addressing the labor shortage at warehouses to keep up with surging consumer demand on the supply chain, Kenco’s Kristi Montgomery told FreightWaves’ Andrew Cox at the North American Logistics Tech Summit on Wednesday.

SPEAKER: Montgomery is the VP of innovation, research and development at Kenco Logistics Services.


Teamsters delegates approve declaration to organize Amazon

The Teamsters union has multiple divisions representing workers in the small package, freight, port and airline industries, among others. To those, a new division may eventually be added: Inc. (NASDAQ:AMZN).

Teamsters delegates convening Thursday at the union’s two-day convention formally approved a two-page resolution called the “Amazon Project,” which will begin what appears to be the process of organizing the company’s logistics workers. Though his name does not appear in the...

Berkshire Grey shows next-generation fulfillment robots

Berkshire Grey releases robotics for warehouse e-commerce fulfillment

Berkshire Grey has unveiled its next-generation picking robots for fulfillment operations. The Intelligent Enterprise Robotic (IER) picking and mobility robots utilize artificial intelligence to offer lower cost points and shorter delivery times while expanding the number of SKUs the robots can pick.

Berkshire Grey’s robots do not use fixed conveyor belts and it said the technology allows for retailers, grocers and third-party logistics providers to orchestrate a fleet of mobile robots to pick,...

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