Amazon buying Whole Foods in bold move into brick and mortar

Posted June 20, 2017

Amazon is already nearly dominating retail - the company's market share of the us retail sector past year was estimated at 34 percent, while Walmart came second with 5 percent, according to Needham & Company's research in April.

Amazon announced Friday that it will pay $42 a share for Whole Foods, which was founded in 1978 in Austin, Texas, and is still based there.

Whole Foods Market is renowned for offering the best organic and natural foods in the world-and merging its business with another world-known ecommerce giant only means more good news for consumers. It operates approximately 456 stores in the United States, Canada, and the United Kingdom.

But Jana sure had good timing, and now they're poised to make about $300 million on a stake in Whole Foods (wfm) they had only disclosed in April, Reuters reports. "Whole Foods Market has been satisfying, delighting and nourishing customers for almost four decades - they're doing an unbelievable job and we want that to continue".

So news that Amazon has bought USA supermarket chain Whole Foods for $13.4bn is interesting but perhaps not surprising. (NASDAQ:WFM), shopping center REITs tumbled more than their peers in the real estate sector. But he says he was going to ask a Whole Foods cashier about the Amazon deal and then hesitated, unsure whether the workers were as excited. (NASDAQ:AMZN) "a launching pad not just for food but possibly drugs as well where customers aren't willing to wait even a day".

However, it does seem that there might be a few big changes according to Economic Times, Amazon could try to use automation and data analysis to draw more customers to stores while helping Whole Foods cut costs and perhaps prices.

"We believe AMZN can work to transform the physical retail experience".

Congressman Shot Is Still in Critical Condition But 'Excellent Recovery' Possible
The FBI said that the shooter's weapons found at the scene - a 9mm handgun and 7.62mm caliber rifle - had been legally purchased. Sava said that after being released from the hospital, Scalise "will require a period of healing and rehabilitation".

Kiwis beat Oracle in America's Cup opener in Bermuda
The Kiwis' 50-foot catamaran rose onto its hydrofoils and sped off across the turquoise waters of the Great Sound . Burling, who has won Olympic gold and silver medals with grinder Blair Tuke, again appeared unflappable.

Wife: Man who shot congressman wanted to work on tax policy
Steve Scalise , the House majority whip from Louisiana, who was shot in the hip - were wounded in the shooting . The Congressman will require additional operations, and will be in the hospital for some time .

Amazon is considering extending the cost-cutting effort with the no-checkout technology it's developing at its Seattle convenience store, "AmazonGo", according to the person familiar with the matter, who asked not to be named because the plans are private.

"If they actually, Amazon Prime, decides to deliver food to your home, boy that's great, it would be a wonderful thing!"

And because customers can buy foods and bulk items like toilet paper from a single retailer, discount retailers such as Costco, Target and Walmart should feel threatened, too.

Some investors may be wondering if Amazon will disrupt grocery stores the way it upended the bookstore business. This deal will put it on the map of the $700 billion grocery market. The transaction is expected to close during the second half of 2017.

The deal sent shockwaves across the food distribution market and beyond.

"Amazon is an innovative company and we are excited about our partnership".

Following the news of the acquisition, Amazon shares were up just over 2% at $US984.31 as of 9:24 a.m. ET. The stock is up more than 31% so far this year.