A report by Placer.ai suggests that six competing physical retailers could be the names to watch during and after Amazon's Prime Day shopping event, which takes place June 23 through June 26. The report identifies Costco, Target, Best Buy, Walmart, Home Depot, and Lowe's as companies that could reap benefits from the event, given a rise in physical store visits and their own promotional activities to compete with Prime Day.

The thesis relies on data indicating that offline retail foot traffic was up 1.2% year-over-year in April and up 0.3% year-over-year in May. Despite consumer sentiment remaining under pressure, the report states that foot traffic data suggests shoppers have not materially pulled back from physical stores.

Retailer Performance

Placer.ai data highlights varying levels of visit growth among the named retailers. Target and Costco showed strong visits growth on a weekly basis over the last several months. Walmart and Best Buy followed with mixed results and mostly growth. Home Depot and Lowe’s rounded out the list with "more volatile foot traffic," according to the report.

Strategic Implications

The report advises investors and consumers to watch for which retailers roll out competing Amazon Prime Day offers in the coming weeks. Retailers already generating traffic momentum appear well positioned to capitalize on the season, while those facing softer visitation trends will be looking to promotions to reaccelerate growth.

Amazon MGM Studios has halted its involvement in the nearly completed film 'Artificial,' a project detailing the 2023 ouster and reinstatement of OpenAI CEO Sam Altman. The studio stated that the film would be better served if released by a different distributor and is assisting the production team in finding a new home. This decision comes as Amazon significantly deepens its partnership with OpenAI, raising questions about potential conflicts of interest.

Directed by Luca Guadagnino, 'Artificial' chronicles the five-day saga surrounding Altman's firing. The film had been attached to MGM Studios, a unit of Amazon.com, prior to the exit. In a statement to Deadline, Amazon expressed respect for Guadagnino but confirmed its withdrawal from the project. Other major studios, including Netflix and Focus, have reportedly passed on the film, leaving smaller distributors like Mubi and Neon as potential options.

The shift in distribution strategy follows a $50 billion deal signed between Amazon and OpenAI in February. This partnership has created a closer working relationship between the two entities, potentially influencing Amazon's decision to distance itself from a film that may portray OpenAI leadership unfavorably. The film stars Andrew Garfield as Altman and Ike Barinholtz as Elon Musk, with reports suggesting the portrayals are unflattering.

Amazon's MGM Studios had previously collaborated with Guadagnino on films such as 'Challengers' and 'After the Hunt.' The company appears to be prioritizing its strategic technology and AI units over its movie studio segment. By avoiding the release of a film that highlights a contentious period in OpenAI's history, Amazon aims to prevent any strain on its valuable relationship with the AI giant.

The project's status remains uncertain as the filmmakers seek a new studio. The development underscores the complex interplay between corporate partnerships and content decisions in the entertainment industry.