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Thread: Amazon eats Whole Foods

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    Board Mommy vraiblonde's Avatar
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    Amazon eats Whole Foods

    http://www.cnbc.com/2017/06/16/amazo...7-billion.html

    I am alarmed at Amazon owning everything that Google doesn't own.
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  2. #2
    INGSOC GURPS's Avatar
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    Amazon.com Inc.’s AMZN +3.00% purchase of Whole Foods Market Inc. WFM +29.01% isn’t just a $13.7-billion bet on physical grocery stores. It is a direct strike at the world’s biggest retailer: Wal-Mart Stores Inc. WMT -4.93%

    Wal-Mart generates more than half of its $486 billion in annual revenue from groceries and is the country’s largest grocer. But the company has been ramping up its digital business with a string of e-commerce acquisitions as its battles Amazon for customers.

    Wal-Mart shares fell 6% in early trading, as did other big traditional grocers. The decline erased nearly $15 billion in Wal-Mart market value, or more than what Amazon is spending on Whole Foods. Costco Wholesale Corp. COST -5.78% dropped 7.8% while Kroger Co. plunged 15%.


    https://www.wsj.com/articles/wal-mar...ion-1497621286
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