Amazon expansion ‘hype’ over the top, say fund managers

Online retailer Amazon’s plans to expand in Australia has slashed local retailers’ share prices and led to sharemarket floats being canned.
But fund managers say forecasts that Amazon will rip apart rivals are over the top and have created buying opportunities, particularly for out-of-favour shopping centre owners.

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Grant Berry is director and portfolio manager at SG Hiscock and Company, a fund manager specialising in Australian equities and property securities.
He suggested Amazon’s expansion was the "hype" business story of the year and predicted the online marketplace would be lucky to nab 5 per cent of Australian retail sales – even over eight years. Sydney Monring Herlad – Read more…