Home > industry > retail > Amazon cuts prices at Whole Foods by up to 43% on first day

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

Subscribe to newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaper Livemint.com is now on Telegram. Join Livemint channel in your Telegram and stay updated

My Reads Logout