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As merger gets going, Amazon to cut prices on popular goods at Whole Foods

The price cut on selected in-store goods will start Monday

Reuters Inc said on Thursday it will cut prices on a range of popular goods as it completes its acquisition of Whole Foods Market Inc , sending shares of rival grocers tumbling over fears of even more brutal market share battles. Amazon's $13.7 billion purchase of Whole Foods, which won antitrust approval from U.S. regulators on Wednesday, has been a shadow hanging over an ailing brick-and-mortar retail sector unsure of how to respond to the world's biggest online retailer. Shares in Kroger Co and Sprouts Farmers Market Inc each shed around 7 percent of their value ...

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First Published: Fri, August 25 2017. 09:00 IST