Amazon Will Spend $800 Million to Move to One-Day Delivery

(Bloomberg) -- Inc. will spend $800 million in the current quarter to increase delivery speed for Prime members to one day from two, the company announced Thursday.

Chief Financial Officer Brian Olsavsky talked about the company’s plans during a conference call to discuss quarterly results. Amazon is stepping up its commitment to compete with brick-and-mortar rivals like Walmart Inc. that are increasingly making deliveries from stores.

Amazon is trying to further differentiate its Prime subscription program, which charges customers monthly and annual fees in exchange for delivery discounts and access to music and video programming.

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