Economy

Whole Foods shares keep rising in bidding war speculation

Whole Foods shares keep rising in bidding war speculation”

Through Whole Foods, Amazon would gain a national store footprint in the United States along with a presence in Canada and the U.K, with over 460 stores in total.

Mackey spoke at a town hall with Whole Foods employees after the deal was announced late last week. It was actually mutual friends set us up on a blind date.

Amazon is buying Whole Foods in a stunning move that gives it hundreds of stores across the United States, a brand-new laboratory for radical retail experiments that could revolutionize the way people buy groceries.

"Every grocery store out there now is having a conversation about how much they can afford to spend to keep Amazon out of the space", said Brian Culpepper, a portfolio manager at James Advantage Funds.

"There are no guarantees in life", Mackey said in response to a final question from an audience member to wrap the meeting.

Some shoppers worry about the quality of their products and say they rather pick their pears themselves.

Here's more of what he had to say and how the deal came into being, from the US Securities and Exchange Commission transcript of his address. "We're gonna import their passion about that".

Amazon expects to reduce headcount and change inventory to lower prices and make Whole Foods competitive with Wal-Mart Stores and other big-box retailers, according to a person with knowledge of the company's grocery plans. She raised her price target on the company to $48 - almost 15 percent higher than Amazon's bid.

The Whole Foods chief said Amazon's technology will help the grocer transform from "class dunce" into "valedictorian". Amazon has, however, rolled out a futuristic store concept with no cashiers or checkout lines.

"Some say the goal for Amazon is shed whole foods pricey image - and with that could mean job cuts - so far Amazon has denied that there will be any layoffs". Jeff Bezos might demand a man cave, in other words, but it "wouldn't be branded Whole Foods Market", he assured his employees, and will definitely occupy the basement level underneath the garage. He noted that Amazon was known for its innovation.

In the US "this adds 440 refrigerated warehouses within 10 miles of probably 80 percent of the population", said Michael Pachter, an analyst at Wedbush Securities. It's gonna be an incredible team for our team member base.

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. Amazon has "promised everyone will get an Echo the day of the merger", he said.

One could be acquiring data from Whole Foods shoppers - a demographic similar to Amazon's existing customer base - in order to better learn their shopping habits.



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