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Amazon cuts prices at Whole Foods by up to 43% on first day

LiveMint logoLiveMint 28-08-2017 Jennifer Kaplan

New York: Amazon.com Inc. spent its first day as the owner of a brick-and-mortar grocery chain cutting prices at Whole Foods Market.

At the Whole Foods on 57th Street in Manhattan, organic fuji apples were marked down to $1.99 a pound from $3.49 a pound; organic avocados went to $1.99 each from $2.79; organic rotisserie chicken fell to $9.99 each from $13.99; and banana prices were slashed to 49 cents per pound from 79 cents.

Amazon acquired the upscale supermarket chain for $13.7 billion, sending competitors such as Kroger Co., Costco Wholesale Corp. and Wal-Mart Stores Inc. reeling. Whole Foods earned a reputation for high prices, getting the nickname Whole Paycheck.

Shares of Kroger fell as much as 2% in early trading on Monday. Bloomberg

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