19 Jun '17, 9am

Are we seeing automation gone awry, or new ideas that could actually save brick-and-mortar stores?

Are we seeing automation gone awry, or new ideas that could actually save brick-and-mortar stores?

A Whole Foods store in Austin, TX In an announcement that sent shock waves through the U.S. grocery business on Friday, Amazon announced plans to acquire Whole Foods for $13.7 billion. The news immediately sent shares of many supermarket retail chains down sharply. Kroger, which had been rumored as a suitor of Whole Foods, saw its share price crater as much as 11 percent before making up most of those losses by the end of Friday. Target and Walmart suffered similar losses, while Costco saw its stock price sink 7 percent and Supervalu’s shares spiraled down over 14 percent. Shareholders of Whole Foods, however, had a fantastic day, as Amazon’s proposal to buy Whole Foods at $42 a share is a 27 percent premium over last Thursday’s closing price. With 465 stores nationwide, Whole Foods owns a relatively small slice of the U.S. grocery market. In the health-conscious Los Angel...

Full article: http://www.triplepundit.com/2017/06/amazons-purchase-whol...

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