Amazon’s $13.7 billion proposed acquisition of Whole Foods rocked the grocery industry last week. We’ve got a wide range of Industry opinion, expert analysis and perspectives on the deal and what it means for the US grocery trade.
CNBC reported that shares of Whole Foods jumped 28% on news of the proposed Amazon acquisition. Cowen and Company reports 12% of US consumers bought groceries online in 2016. CNBC also called Amazon’s plan “a brilliant acquisition” and “a slam dunk.”
The acquisition news had a big impact on retail and grocery stocks, causing a huge drop in share value of tens of billions of dollars. Kroger shares dropped 11% and Walmart was down 5% while Costco and Target each slipped 6%....
Big retail disruption for the grocery trade.