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Amazon moves into brick-and-mortar stores with $13.7 bn Whole Foods deal

It could turn high-end grocer into mass-market merchant, thus pushing the struggling retail industry

Reuters 

Amazon.com Inc said on Friday it would buy Whole Foods Market Inc for $13.7 billion, in an embrace of brick-and-mortar stores that could turn the high-end grocer into a mass-market merchant and upend the already struggling US retail industry. Amazon used aggressive pricing to become an e-commerce retail juggernaut and has recently been experimenting with brick-and-mortar outlets. It will take over a natural and organic grocer pioneer with 456 stores, a mecca for young, high-end shoppers, that has been struggling to rein in prices and integrate technology. The deal represents ...

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First Published: Sat, June 17 2017. 11:26 IST
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