- 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
Original article