Prime time for grocery price competition; also see Amazon cuts Whole Food prices in clear signal of sweeping changes to come (Washington Post) and Amazon’s Price Cuts on Food Leave Rivals Bracing for Impact (Bloomberg)
"Mr. Bezos has always been willing to lose money, disappoint shareholders and start discount wars in his efforts to challenge and inflict pain on competitors. In the 23 years that Amazon has been in business, he has done it again and again — with books, diapers and now groceries — fundamentally changing entire retail categories.
“I absolutely think it’s putting the rest of the market on notice,” Bob Hetu, an analyst at Gartner, the technology research firm, said of Amazon’s announcement on pricing.
Investors drove Kroger shares down more than 8 percent on Thursday; shares of Walmart, the nation’s biggest grocer, fell about 2 percent. Both companies’ shares also fell sharply when the deal was announced in June."Amazon Plans to Lower Some Prices at Whole Foods - The New York Times