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Berkowitz Says Amazon Deal Shows Value of Physical Retailing

  • Transaction reaffirms his faith in ailing retailer Sears
  • Fairholme Fund trailing more than 99% peers so far this year
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Berkowitz Says Amazon Deal Shows Need for Physical Stores

Investor Bruce Berkowitz said Amazon.com Inc.’s purchase of Whole Foods Market Inc. demonstrates that there’s still value in the traditional world of retailing.

“It says to me that there is a need for physical space in retailing,” Berkowitz, the founder of Fairholme Capital Management, said Friday in an interview with Erik Schatzker on Bloomberg TV. “There’s a need to have tremendous locations. The physical world is not disappearing.”