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Amazon Is Hurting Retail Stores

|, Inc. (AMZN), SPLS

Once upon a time when you needed clothes,office supplies,electronics,or books you headed to a local store.There you located the items you wanted and stood in line to purchase them.All of that changed in 1995 when went online originally as a bookstore.Today Amazon - AMZN - stands as a retail behemoth with estimated yearly revenue of 70 billion dollars.The stock is a darling of Wall Street with a price of 396.44 a share.Just recently I had a chat with a Staples - SPLS - employee who said that they are losing a lot of business to Amazon.That store ironically is closing today echoing that man's previous declaration.The question remains, Will Amazon be responsible for more store closings in the future? Or will they add more jobs to replace the ones lost? I am neutral so far on this topic but would appreciate some feedback from the Seeking Alpha community.Happy New Year to all viewers.

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Stocks: AMZN, SPLS