Amazon.com Inc, which has lost billions overseas trying to replicate its US success, is now attempting to crack one of the biggest and most sparsely populated nations where bricks-and-mortar retailers are king.
The Seattle-based company, which sells everything from groceries and big-screen TVs to high-end fashion, says it’s “actively looking” for a warehouse as it prepares to start operations in Australia. Anticipating a price war, analysts have almost halved profit forecasts for local electronics chains such as Harvey Norman Holdings Ltd and JB Hi-Fi Ltd.