Amazon moves into real-world stores with $13.7 billion Whole Foods deal | Reuters

Amazon moves into real-world stores with $13.7 billion Whole Foods deal | Reuters

Amazon moves into real-world stores with $13.7 billion Whole Foods deal | Reuters

Amazon.com Inc said on Friday it would buy grocer Whole Foods Market Inc for $13.7 billion in a move that gives the online retailer a physical network of stores to distribute fresh food and other goods to millennials and wealthy consumers.Amazon, which is known for squeezing suppliers and has been experimenting with its own outlets, will take over a natural and organic grocer pioneer brimming with 456 stores and high-end shoppers but struggling to rein in prices and integrate technology.The deal sent shockwaves across the food distribution market and beyond. Shares of grocer Kroger Co swooned 11 percent, while Wal-Mart Stores Inc fell 5 percent, signaling fears that Amazon could cut prices and broaden Whole Foods’ product mix, turning it into a much broader retailer.[]Amazon’s shares were up 3 percent at $993.40, adding more than $14 billion to its market capitalization.

Källa: Amazon moves into real-world stores with $13.7 billion Whole Foods deal | Reuters

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