Amazon’s Venture Into Groceries Hasn’t Unnerved Investors
Amazon.com Inc.’s surprise June announcement that it had agreed to acquire Whole Foods Market Inc. sent shares of the grocery chain’s closest peers tumbling. In the five months of trading since, the group has managed to erase the losses and then some. Kroger Co., which dropped more than nine percent on the Amazon news, has long argued that the market reaction was overblown. After posting better-than-expected comparable sales Thursday, investors may be inclined to finally agree.
— With assistance by Craig Giammona