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Amazon's transformation of Whole Foods puts the entire grocery industry on notice

Jacqui Frank,Kara Chin,Joe Ciolli   

Amazon's transformation of Whole Foods puts the entire grocery industry on notice
Stock Market1 min read

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Business Insider CEO Henry Blodget discusses the aftermath of the Amazon-Whole Foods deal, highlighting the price cuts made at Whole Foods stores. He notes that the stocks of competing grocers have taken a beating, selling off any time there was a new announcement from Amazon. He mentions comments from a Morgan Stanley analyst, who thinks the new Whole Foods has the ability to close the pricing gap between it and its competitors. Blodget then points out that Amazon shows that a company doesn't necessarily need to maximize profits to see share gains.

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