Whole Foods CEO is head over heels in love with Amazon

Whole Foods CEO is head over heels in love with Amazon

Whole Foods CEO is head over heels in love with Amazon

Mr. Mackey told his employees Friday that a year and a half ago he had a vision about the deal. This acquisition was not just a step to further its natural food and organic offerings, but a way to cement a presence in the brick-and-mortar grocery space.

The announcement of the takeover last week caused shares in other major US retailers including Target, Costco, and Walmart to plunge, as the 460 Whole Foods storefronts in the US, Canada, and United Kingdom become Amazon's.

In anticipation of a looming bidding war, Short revised her target price for Whole Foods's shares from $38 to $48.

Key Banc's Brent Bracelin concludes "Whole Foods gives Amazon a fleet of attractively located stores, very strong brand, and credibility within food retail". "Amazon, which has revolutionized the way people shop, is betting it can learn the business and solve at least part of the puzzle..." The deal followed a scrape with activist investor Jana Partners, which had threatened to shake up Whole Foods' board and overhaul the chain. Amazon clearly wants to do to supermarkets what it did to bookstores. "We live in remarkable times, for sure".

Carmen Clark, 37, a six-year employee at a store in Mount Pleasant, South Carolina, said some workers worry that Amazon-led automation could lead to job cuts.

This is of huge value to Bezos and co.

Apple was one of the biggest gainers, rising more than 1.9% in early trade.

Photo by David Ryder / Stringer / Getty Images.

Whole Foods, Kroger, Albertsons and Wal-Mart all declined to comment.

"We're seeing a lot of hand-to-hand combat in the grocery industry".

"Amazon is taking over the world because that's a real big switch", says Ishmael McIntosh, from Baltimore, a former Whole Foods worker. I think we coulda talked for 10 hours.

"We thought Amazon was thrifty in its offer", said Charles Kantor, managing director at Neuberger Berman Investment Advisers LLC, which owns around 2.7 percent of Whole Foods shares and had pressured the company to take steps to improve its stock price. News of the deal has raised concerns that Amazon will tarnish the grocer by taking it downmarket.

Amazon is considering extending the cost-cutting effort with the no-checkout technology it's developing at its Seattle convenience store, "AmazonGo", according to the person familiar with the matter, who asked not to be named because the plans are private. But in trading Monday, Whole Foods closed at $43.22 a share, up 54 cents on the day, indicating that investors expect a higher offer to arrive.

Amazon has left cultures intact at other companies it purchased.

In the future, if a drone carrying your favorite caramel and sea salt gelato is only one click away, how many more pints will you buy?

Related news



[an error occurred while processing the directive]