Aug 28, 2017

Amazon slashes Whole Foods prices

Erica Pandey, author of @Work

Julie Jacobson / AP

On Day 1 as Whole Foods' new owner, Amazon followed through on its promise to lower prices at the upscale grocery chain, Bloomberg reports.

Why it matters: Shares in competing grocers Kroger and Walmart fell after Amazon first announced the price cuts last week, with Kroger plummeting 8%. Monday morning, Kroger shares fell again, as much as 2%.

The cuts, at a Manhattan Whole Foods:

  • Fuji apples, by the pound: from $3.49 to $1.99
  • Bananas, by the pound: $0.79 to $0.49
  • Avocados, each: from $2.79 to $1.99
  • Rotisserie chicken: $13.99 to $9.99
  • Steaks, by the pound: $16.99 to $13.99

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