Whole Foods Competitors Are Already Feeling the Pressure, Stocks Tumbling

It’s being called a “foodpocalypse.”

By
Food & Beverage
3,876 Hypes 0 Comments

Amazon‘s major $13.7 billion USD acquisition of Whole Foods Market is already causing a stir around the grocery industry. According to TechCrunch, several of Whole Foods’s direct competitors — companies like Costco, Dollar General, Target and Walmart — have begun to spiral downwards on the stock market. Investors are apparently skeptical about how other food stores will fare in the near future, thus causing their share prices to fall.

While stocks for brands like SuperValu, Kroger, Target and Sprouts Market have fallen more than 10% at the time of writing, Amazon surged 3.3% since news of its purchase was revealed. Look for grocers to begin digitizing and enhancing their direct consumer experience to keep up with Amazon’s ever-expanding empire.

Here’s how some of the top food stores’ stocks are faring on the market as of posting:

  • Amazon: +3.3% to $995.98
  • Wal-Mart: -6.36% to $74.18
  • Target: -10.28% to $49.76
  • Costco: -7.69% to $13.85
  • Kroger: -13.44% to $21.26
  • Dollar General: -5.16% to $68.59
  • SuperValu: -16.22% to $3.15
  • Sprouts Market: -12% to $19.73
  • Smart & Final Stores: -14.09% to $9.60
  • Weis Markets: -7.25% to $47.23
  • Ingles Markets: -7.71% to $32.30
Read Full Article
Source
TechCrunch
Image Credit
iStock/Getty

Join Our Discussions on Discord

The HYPEBEAST Discord Server is a community where conversations on cultural topics can be taken further.

515 Users Online

What to Read Next

Test Your Fear of Heights with EFFEKT's Treetop Experience
Design

Test Your Fear of Heights with EFFEKT's Treetop Experience

Panoramic views of Denmark.

Pharrell Takes to the Skies for "There's Something Special" Video
Music

Pharrell Takes to the Skies for "There's Something Special" Video

Featuring scenes from ‘Despicable Me 3.’

Ai Weiwei's New 'Hansel & Gretel' Installation Explores Intensified Surveillance
Arts

Ai Weiwei's New 'Hansel & Gretel' Installation Explores Intensified Surveillance

Packed with drones and infrared cameras that monitor your every move.


These Spinning 18-Karat Gold Murakami Flower Pendants Were Custom Made for J Balvin by Ben Baller
Fashion

These Spinning 18-Karat Gold Murakami Flower Pendants Were Custom Made for J Balvin by Ben Baller

Mr. Takashi Murakami actually wants one himself.

Cristiano Ronaldo Wants out of Real Madrid
Sports

Cristiano Ronaldo Wants out of Real Madrid

The world’s highest paid athlete is not happy, but what’s causing it?

These Air Jordan IV "SNES US" Customs Are on Fire
Footwear

These Air Jordan IV "SNES US" Customs Are on Fire

Complete with and “working buttons” and ‘NBA Jam’ screenshots.

More ▾
 
Subscribe to our Newsletter

Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more.

By subscribing, you agree to our Terms of Use and Privacy Policy.

Help us serve you better

We appreciate your support in allowing HYPEBEAST ads, where we can share contents from the latest fashion, to those culturally relevant. In adding HYPEBEAST to your ad blocker's whitelist, ads on our sites will show while you continue to browse.