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Amazon plans on lower prices at Whole Foods

Published 08/24/2017, 02:00 PM
© Reuters.  Amazon plans on lower prices at Whole Foods
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  • Amazon (AMZN -0.7%) will close on its deal to acquire Whole Foods Market (NASDAQ:WFM) on August 28.
  • The e-commerce giant isn't wasting any time setting a new tone as it promises that Whole Foods Market will offer lower prices starting Monday on a selection of best-selling grocery staples across stores.
  • As part of the marriage, Amazon Prime will be integrated into the Whole Foods Market point-of-sale system.
  • “We’re determined to make healthy and organic food affordable for everyone. Everybody should be able to eat Whole Foods Market quality – we will lower prices without compromising Whole Foods Market’s long-held commitment to the highest standards,” says Amazon Worldwide Consumer CEO Jeff Wilke.
  • The pricing strategy from Amazon will be closely watched across food retail, including by management at Kroger (KR -3.2%), Target (TGT -0.8%), Costco (COST -1.4%), Supervalu (SVU -2%) and Wal-Mart (WMT -1%).
  • Source: Press Release
  • Now read: Wal-Mart: In Line, But Market Is Out Of Breath


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