Amazon’s grocery plans hit Australian supermarkets
Online retailer Amazon’s move to snap up the American grocery chain Whole Foods put a chill through Australian supermarkets on Monday, with the market reacting to news the e-commerce giant was putting kitchen cupboards at the centre of its future.
The $US13.7 billion ($18 billion) investment, announced on Saturday, will see Amazon acquire 460 stores across 42 US states, which will serve as distribution and pick-up locations.
Woolworths, Coles’ owner Wesfarmers and independent wholesaler Metcash were all sold down on Monday, the first day of trading on the ASX since Amazon said it would buy Whole Foods. Sydney Morning Herald – Read more…
The $US13.7 billion ($18 billion) investment, announced on Saturday, will see Amazon acquire 460 stores across 42 US states, which will serve as distribution and pick-up locations.
Woolworths, Coles’ owner Wesfarmers and independent wholesaler Metcash were all sold down on Monday, the first day of trading on the ASX since Amazon said it would buy Whole Foods. Sydney Morning Herald – Read more…
Recent Posts
