Kroger Stock Plunges 8 Percent On News of Amazon's Whole Foods Strategy

by Frankie Norman August 26, 2017, 1:14
Kroger Stock Plunges 8 Percent On News of Amazon's Whole Foods Strategy

Customers will be able to take advantage of lower prices on bananas, organic avocados, brown eggs, organic salmon, animal-welfare-rated 85% ground beef and other staple food items. On Friday, a grocery bag of those items rang up at about $40.50 at Whole Foods - including the chicken on sale for $2 off - compared to under $34 at both Stew Leonard's and Stop & Shop, the former a local favorite and the latter the largest chain operating in southwestern CT.

The high-end grocer has long resisted lowering its prices, which has earned it the nickname "whole paycheck".

On Wednesday, the world's biggest retailer, Wal-Mart Stores and technology giant Google announced they were teaming up in a grocery delivery venture that was widely seen as a response to Amazon.

Adding Whole Foods benefits should help Amazon attract more shoppers to its successful Prime scheme, which features two-day shipping for eligible purchases and unlimited streaming of movies and TV shows.

Monday, August 28 will see Whole Foods prices drop for many of their popular items. In the 23 years Amazon has been in business, he has done it again and again - with books, diapers and now groceries - fundamentally changing entire retail categories.

Financial analysts say one challenge for Amazon is how to cut prices and broaden Whole Foods' appeal without hurting the chain's image for quality food.

Shares of Kroger, the biggest United States supermarket operator, closed down 8 percent, while Wal-Mart, the biggest USA food seller, closed down 2 percent.

Amazon is also integrating Whole Foods into its business, so people will be able to buy the brand on He said: "It's been our mission for 39 years at Whole Foods Market to bring the highest quality food to our customers".

In addition to the lower prices on select goods, and the integration of Prime, Amazon Lockers will be available at select Whole Foods stores. Soon they will also get deals on Whole Foods purchases.

While the full effects of Amazon's acquisition of Whole Foods are yet to be known, a major announcement today is giving us a better idea of what to expect. This way, everyone is assured of getting the finest natural and organic foods. continue their The company's relation with trusted vendors and partners around the world will also continue. Walmart, which has the largest share of the US grocery market, is expanding its grocery delivery service with ride-hailing service Uber and announced Wednesday that it will join forces with Google to let shoppers order goods by voice on Google devices.

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