Amazon's net loss prompts query: Has it built too many warehouses?

FILE PHOTO: The Amazon logo is displayed on a sign outside the company's LDJ5 sortation center, as employees begin voting to unionize a second warehouse in the Staten Island borough of New York City, U.S. April 25, 2022. REUTERS/Brendan McDermid.

(Reuters) - In recent years, Amazon.com Inc has spent billions of dollars on new warehouses that cut into profits, explaining to investors that it had no choice but to meet ever-rising consumer demand.

It turns out, Amazon may have built too much, too soon, analysts say.