The change to the search algorithm could steer customers toward Amazon
private-label products that deliver higher profit margins than competing listings, the Journal reported.
Amazon shares fell 1.9% to $1,804 at 11:38 a.m. The company didn’t immediately respond to requests for comment. A spokeswoman told the Journal that Amazon has long considered long-term profitability, but that it didn’t make decisions based solely on that metric.
Bloomberg reported last week that a team of Federal Trade Commission investigators has begun interviewing small businesses that sell products on Amazon to determine whether the e-commerce giant is using its market power to hurt competition. A House panel investigating big tech companies
for potential antitrust violations is seeking information from customers of Amazon, Apple, Google and Facebook about the state of competition in digital markets and the adequacy of existing enforcement, Bloomberg reported on Sunday.