Amazon started a new retail revolution: Former Toys R Us CEO

By AmazonFOXBusiness

Is Amazon's biggest risk the US government?

Former Toys 'R' Us CEO Gerald Storch on Amazon Prime Day the ecommerce giant's growth and the potential risks the company.

Amazon started a new retail revolution, according to the former Toys R Us CEO Gerald Storch.

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“We’ve been trying to build Christmas in July – and nobody has shown up – and Amazon has succeeded,” he told FOX Business’ Stuart Varney on Monday.

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Storch said he gives Amazon a “lot of credit” because “July is a retail desert” and now “all the other retailers” have to play too.

“It’s a big deal,” he said.

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Storch also believes that the e-commerce giant can rake in $6 billion in sales within the next two days during its Prime Day sales event. Despite a minor tech glitch that temporarily kept shoppers from making any purchases last year during Prime Day, Amazon still reported a record $3.5 billion in sales.

“[To] put it in perspective – that’s about what J.C. Penney does in a half a year – in just two days. That’s about what Nordstrom does in three or four months – in just two days.”

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