Amazon jumps following report it’s planning to expand Whole Foods across the US (AMZN)

Whole Foods

  • Amazon rose early Monday after a report stated it used to be planning to open extra Whole Foods retail outlets across the US to position extra shoppers inside of vary of Prime Now’s two-hour supply provider.
  • The report didn’t element precisely what number of Whole Foods retail outlets Amazon used to be planning to open and expand.
  • Watch Amazon business reside.

Amazon rose greater than 2% early Monday, to greater than $1,509 a proportion, after a report stated it deliberate to open extra Whole Foods places across the United States.

The push would position extra shoppers inside of vary of Amazon’s two-hour supply provider, Prime Now, The Wall Street Journal reported, bringing up folks conversant in the plans. 

Both shops declined to remark to The Journal on new retailer building and spending, even though one particular person conversant in the plans stated Whole Foods staff have visited “doable retail areas in portions of Idaho, southern Utah and Wyoming, the place the grocer doesn’t have retail outlets now.”

Read extra: Amazon has plans to open much more Whole Foods retail outlets, and it displays the e-commerce large has no goal to decelerate its push into bodily retail

Whole Foods these days has greater than 350 retail and non-retail places in the US, Canada, and the UK. Amazon purchased Whole Foods in 2017 for $13.5 billion after Whole Foods had courted seven doable companions for a deal.

Amazon stocks have climbed 25% in 2018, even though they’re down 28% since hitting an all-time prime of $2,050.50 in early September.

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Contributer : Tech Insider https://learn.bi/2VkNhd5