Why Amazon needs to do more in the grocery industry than just own Whole Foods:
Grocery stocks responded Friday to reports that Amazon.com was looking to expand its grocery footprint in the U.S. beyond the Whole Foods chain it already owns. That’s understandable—but in the near term, several analysts say, the landscape hasn’t changed much.
Today, some of those stocks were moving back up a bit, with Kroger recently up more than 2% in Monday trading as the S&P 500 was down. “Whole Foods’ about 500 stores primarily targeted at higher-income customers is not doing enough to address the about $830 billion U.S. grocery opportunity,” according to Nowak. “Amazon needs a larger and more diversified physical grocery offering. This to us confirms our view that e-commerce is getting more expensive, asset intensive, and omnichannel focused.”
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