Amazon said to be planning price cuts at Whole Foods

Posted June 22, 2017

On Friday Amazon announced its intention to acquire Whole Foods Market, a supermarket chain with more than 460 stores across the US, Canada and the United Kingdom, for $13.7 billion.

In a town hall meeting at Whole Foods' Austin, Texas, headquarters on Friday, the day the deal was announced, Mr. Mackey and other executives applauded the "historical moment" for Whole Foods, saying that the two companies hit it off right away, according to a security filing transcript.

Mainers shared mixed feelings about the potential deal involving internet giant Amazon purchasing grocery chain Whole Foods.

"While Amazon utilized Amazon Fresh to deliver groceries, the company now will be able to tap into the $611.9 billion brick-and-mortar grocery stores industry", she says.

Parikh added that Amazon's offer appears to be "undervaluing the company's prospects and the powerful brand" and that Whole Foods could do better. Amazon and Whole Foods have the combined power to engage in low cost pricing - something mom and pop shops certainly can't do. Investors looking into the crystal ball now see more and more of the home delivery or the pickup version of food swinging to Amazon more quickly than anyone thought it would before this deal. Amazon has an obvious ability in e-commerce, but retailers such as Wal-Mart and Target have recently aggressively stepped up their digital efforts. "But like an old traditional marriage, where there are all kinds of rules and chaperones, we can't consummate the marriage until we're actually officially hooked up.... "They will push pretty heavily to integrate Whole Foods with Amazon, I'm sure there'll be Prime rewards for shopping at Whole Foods", Barnett says". "I said, 'I know". "We're gonna become as customer-centric as Amazon", he said.

"There'll be a Whole Foods dream merging in with an Amazon dream", Mackey said.

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The impact of the announcement was also still rippling through a few other retail names on Wall Street on Monday. Whole Foods also declined to comment.

We're speculating a lot about what the Amazon-Whole Foods deal will mean in the short and long term.

Aaron Turner, a Los Angeles-based analyst who covers Grubhub for Wedbush Securities, wrote in a note to clients Monday that the tech giant's plans to buy Whole Foods for almost $14 billion set it up for a larger food ordering and delivery play.

Whole Foods Market, founded in 1978, is a natural and organic foods supermarket and certified organic grocer with approximately 87,000 staff members across the company.

Amazon has been on the edge of the grocery business for a while. At least one customer was concerned that an Amazon purchase would further distance Whole Foods from its roots as a purveyor of premium, organic and specialty foods.