Amazon.com Inc (AMZN): Amazon may look to cut Whole Foods price...

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Sunday, 06/18/2017 8:54:13 PM

Sunday, June 18, 2017 8:54:13 PM

Amazon may look to cut Whole Foods prices, Bloomberg says
Amazon (AMZN) will attempt to keep Whole Foods' (WFM) reputation for premium foods while cutting its prices, Bloomberg reported Saturday, citing a source. The company expects to cut headcount and change inventory -- by introducing its own private-label products for certain items -- to reduce prices and make the grocer competitive with Wal-Mart (WMT) and other big box retailers, the source told Bloomberg. The moves could potentially involve using "no-checkout" technology developed at its AmazonGo stores to eliminate cashiers, the report said. An Amazon spokesperson told Bloomberg that the company has "no plans" to use such checkout technology or cut jobs https://www.bloomberg.com/news/articles/2017-06-18/amazon-said-to-plan-cuts-to-shed-whole-foods-pricey-image