WSJ: Amazon is planning to open its own grocery chain

Amazon is plotting to open several dozen grocery stores across major U.S. cities, reports the Wall Street Journal, citing people familiar with the plans. Amazon declined to comment to Axios.

The big picture: When Amazon bought Whole Foods in 2017, it spurred panic among America's big grocers, but Whole Foods — with 470 high-end locations compared to Walmart's 4,700 — gave Amazon a relatively small footprint in the food business. With its own network of stores, Amazon could attract shoppers looking for cheaper prices than Whole Foods and dramatically expand its brick-and-mortar reach.