Posts tagged with Amazon Fresh

wholefoods

Is the Whole Foods acquisition the beginning of Amazon's endgame?

On Friday, Amazon sent shockwaves through the world of retail by announcing its intention to buy upscale grocery chain Whole Foods for $13.7bn.

The deal, which came as a surprise to the markets, knocked nearly $40bn off the market caps of other retails. Kroger, Costco, Target, Walgreens and Wal-Mart each saw their stocks drop by more than 4% following the announcement, and their declines accounted for over $23bn of the market cap losses.

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