The Traderszone Network

Published in TZ Latest News 20 July, 2015 by The TZ Newswire Staff

Cowen: Amazon will be number one U.S. clothing retailer very soon

Amazon is seeing a wave of upgrades just days before it reports quarterly earnings. The team of analysts, led by John Blackledge, sent out a note this morning predicting that Amazon will become the number one U.S. apparel retailer by 2017, “comfortably passing” Macy’s within two years. Keep in mind that, according to Cowen, Amazon’s apparel and accessories segment is driving the sales of electronics and general merchandise (EGM), which makes up roughly 70 percent of total revenue.