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Amazon's deal to buy Whole Foods crushes stocks of supermarkets

Amazon's deal to buy Whole Foods crushes stocks of supermarkets

But despite the Whole Foods acquisition and, by extension, the potential technology Amazon could implement in brick-and-mortar outlets, the company said it now has no plans to automate the jobs of cashiers in Whole Foods stores after the acquisition. It's so successful that there are approximately 80 million Amazon Prime members in the USA alone. Phrases like "synergy" were mercifully not used.

According to Jeff Bezos, Amazon founder and CEO, "Millions of people love Whole Foods Market because they offer the best natural and organic foods, and they make it fun to eat healthy".

Armed with giant warehouses, shopper data, the latest technology and almost endless funds - and now with Whole Foods' hundreds of physical stores - Amazon is set to reshape a US$800 billion grocery market that is already changing rapidly.

"We believe it presents an incredible opportunity to take Whole Foods Market's mission and goal to new levels and will create significant value for our stakeholders - including you, our most loyal customers". Whole Foods will keep operating stores under its name and John Mackey will stay as CEO, with headquarters in Austin, Texas.

Such changes may be a long way off, and Amazon has plenty of time to change its strategy, with the $13.7 billion deal not expected to close until the second half of the year.

Call it the US Wide Open
Yet Johnson was forced to bide his time for the next six holes, unable to convert the few birdie chances that came his way. And those 42 are within 6 shots of the lead held by Paul Casey, Brian Harman , Tommy Fleetwood and Brooks Koepka .

As Reuters reports, Amazon used "aggressive pricing" to turn itself into a retail juggernaut, noting that the company has recently been experimenting with brick-and-mortar outlets. It already dominates ecommerce.

Stock prices for some of the nation's largest retailers plummeted Friday. However, Whole Foods does not have access to Instacart's financial numbers and analytics. And Whole Foods shares climbed 29 percent to $42.68 Friday - more than the $42 deal price - indicating investors expect another bidder may emerge.

Instinet analyst Anthony DiClemente said in a note quoted by CNBC that Amazon is going to disrupt grocery business.

After the Whole Foods announcement, stock prices for Wal-Mart, Target and Costco sank.

Revenue from Whole Foods accounts for less than 10% of Instacart's revenues, according to a different source familiar with the partnership.

United Kingdom police: Mosque attack suspect held on terror charges
They also expressed frustration that attacks on the Muslim community have received little coverage or sympathy. Others claim that he was ejected from the town's Hollybush pub on Saturday night for drunkenly cursing Muslims.

Wal-Mart was just one of the many retailers whose stocks were impacted by the news that Amazon is acquiring Whole Foods.

Whether shareholders and shoppers will benefit is another matter.

Lucy: If the deal closes and isn't killed by regulators, a couple of Boston-based entities could win big. Prime membership for groceries cements a relationship with a grocery store, and it encourages members who have not shopped there to shop in Whole Foods.

Many deals don't receive an appropriate level of regulatory scrutiny.

Now that Amazon is in the brick-and-mortar business selling books and groceries, who knows where it will set its sights next?

Alternate juror on Bill Cosby trial 'probably' would have voted to convict
However, the six alternates listened to all of the testimony, in case a juror had to be excused for illness or another reason. With the failure of the 12-person jury to reach a unanimous decision, a mistrial has been declared.


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