Amazon says it's cutting its Prime 2-day shipping guarantee to just one day

Amazon PrimeAP/Patrick Semansky

Amazon CFO Brian Olsavsky announced on Amazon's first-quarter 2019 earnings call that it is working on turning its Prime two-day shipping guarantee into a one-day shipping offering.

Olsavsky called the move a "significant step" on the call.

The initiative will take time to come to fruition, he cautioned. The company said it will take on $800 million in additional expenses in the upcoming quarter.

This story is developing. Check back for updates.

Exclusive FREE Report: The 5 Biggest Questions Around Amazon's Grocery Chain by Business Insider Intelligence

NOW WATCH: Chocolate diamonds weren't always valuable. Here's how they went from cheap rocks to adorning Rihanna's $130,000 Grammys necklace.

{{}}
Subscribe to whatsappSubscribe to whatsapp
Add Comment()
Comments ()
Characters Remaining: 3000
X
Sort By:
Be the first one to comment.
We have sent you a verification email. This comment will be published once verification is done.
Next StoryStarbucks still hasn't solved a growing problem
Related Stories
Latest Stories

Change UK mocked for 'folly' of rejecting alliance with the Lib Dems

Barclays is culling senior staff on the heels of a management overhaul - just a month after the bank said 'no plans for job cuts'

TransferWise was just valued at $3.5 billion in a Silicon Valley-style deal that shows why Europe's tech scene is maturing fast

Why Boris Johnson could back a new Brexit referendum as prime minister

US stocks have crushed their European peers by 76% over the past decade. Here's what Goldman Sachs says needs to happen for Europe to flip the script.