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Amazon buying Whole Foods in $13.7 billion deal
17 Junio 2017, 08:14 | Benedicto Grullon
In addition to other natural and organic grocers, it has cited pressure from restaurant chains, meal-delivery companies and traditional supermarkets such as Kroger. For shareholders of both companies, Wall Street's initial reaction was positive, but that's not always the case. "But now you can find them everywhere like Ralphs or Vons, so you don't need that price disparity anymore". The terms - and friendliness - of deals can vary widely, but it's important to understand how a deal is perceived by investors. Myomo was the first company to list on a major USA exchange through a provision of federal law known as Reg A+, which was created to help fund small-business growth.
Fresh baked bread from their bakery next-door, hand-cut meat and fish and homemade foods like turkey burgers with feta and spinach in them are some of the market's specialties.
Amazon already offers grocery-delivery services in five markets, but the Whole Foods purchase would let it expand to many more. The company has been slowly moving toward establishing a larger presence in both over the last half-decade or so.
Whole Foods is one of its earliest partners and perhaps its sexiest one.
The giant internet retailer's stock rose $23.54, or 2.4%, to $987.71 Friday, while Whole Foodsshares jumped 9.62, or 29%, to 42.68.
Shoppers will continue to have access to Whole Foods through Instacart while the Amazon deal is going through the approval process, a source familiar with the partnerships told CNN Tech.
WalMart bought Jet, an ecommerce site trying to compete with Amazon, for $3.3 billion in 2016. The Motley Fool owns shares of and recommends Amazon and Whole Foods Market.
As sales have slumped, Whole Foods executives have tried to highlight what distinguishes it from rivals.
Technology stocks also slipped, extending losses for a sector that has been under pressure lately.
Bunch says from a marketing perspective, this is a big deal.
Opposition to the deal came from organized labor, among other critics. No matter what, the acquisition can't help but accelerate Amazon's ambitions in food.
The move solidifies Amazon's longer-term expansion into groceries, which it has flirted with for years. And the key measure that retailers look at to gauge their health, revenue at stores open more than a year, has fallen for seven quarters in a row.
Amazon, meanwhile, has been expanding its reach in goods, services, entertainment _ and groceries.
This deal signals a new level of competition in the retail space. If investors see an acquisition as disruptive to an industry, they'll sell competitor stocks. Kroger, the nation's biggest supermarket chain, had earlier warned Wall Street of disappointing earnings. The Journal estimated that the Amazon announcement had wiped almost $29 billion from the aggregate market cap of rivals in the grocery category. The stores stock about 7,000 products as compared to its regular stores which can have as many as 40,000.
Before making any quick trades on the news, it's important to consider what's at stake. That has delayed opening the store to the general public, they added.
"I think that they are a very profit-driven company, so there might be some streamlining as far as labor", said Sasha Hardin, 28, of the Mount Pleasant store, who has been with Whole Foods for 6-1/2 years. Eleanor McCarthy, who said she lives "near Newburyport", has a son who works for Amazon in Los Angeles.
Grocery store stocks plummet after Amazon-Whole Foods deal
Food distributors were also punished, with the S&P 1500 sector index down 3.9 percent and Sysco Corp down 3.5 percent at $53.57. While Whole Foods has struggled to expand, Amazon has been expanding its reach in goods, services, and entertainment.
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