Gillian Tan, Columnist

Supermarkets Enter Amazon's Deep Freeze

The beaten-up shares may not recover until grocers come up with a clear plan for standing up to their deep-pocketed challenger.

June 16, 2017 at 4:09 PM UTC

By Gillian Tan

Gillian Tan is a senior reporter covering finance and alternative asset classes including real estate, infrastructure, private equity, private credit, venture capital and sports business. She previously wrote an opinion column for Bloomberg and was a reporter at the Wall Street Journal. She is a qualified chartered accountant.

1497629870_312313383_1-22 — Photographer: DHIRAJ SINGH/Bloomberg

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Amazon.com Inc.'s surprise decision to splash $13.7 billion on Whole Foods Market Inc. will undoubtedly be great for consumers. For Whole Foods's rivals? Not so much.

Shares of supermarket operators from Kroger Co. and Wal-Mart Stores Inc. through to smaller peers Sprouts Farmers Market Inc. and Supervalu Inc. all tumbled on Friday: