Amazon (AMZN) stormed into the world of food retail Friday with a stunning announcement it will acquire Whole Foods Market (WFM), a move that sent shares of industry mainstays sharply lower as many fear an imminent disruption of the way consumers shop for groceries will continue to pressure margins and potentially upend existing business models. The $475 billion e-commerce giant will snap up the struggling supermarket chain for $42 per share in an all-cash deal valued about $13.7 billion including debt. “Whole Foods Market has been satisfying, delighting and nourishing customers for nearly four decades – they’re doing an amazing job and we want that to continue,” said Amazon CEO Jeff Bezos in a statement. Under the deal, Whole Foods will continue to operate stores under its independent brand and the company’s CEO and founder, John Mackey will remain in his position. Mackey said the partnership allows the Austin, Texas-based food retailer to continue efforts to bring high-quality foods to its customers across America. The deal, subject to approval by regulators and Whole Foods shareholders, is expected to close in the second half of this year. News of the acquisition sent Amazon shares up nearly 3%, their biggest gain since January as Whole Foods leaped 27% in their biggest rally since 2009 to $42.35. At the same time, data from Dow Jones showed investors wiped out roughly $55 billion form the market value of other grocery names including Walmart (WMT), Target (TGT), Costco (COST) and Kroger (KR), which cut its full-year earnings guidance on Thursday, extended losses, falling 13% Friday. Whole Foods, largely credited with igniting a large-scale shift in consumer purchasing trends to fresh and sustainably-sourced food offerings, has long been a target of takeover speculation as it continues to face mounting pressure from longtime industry players including Walmart (WMT) and Kroger (KR) as they aggressively move into the fresh and organic food space. In the most recent quarter, Whole Foods booked adjusted earnings of 37 cents a share on revenue of $3.72 billion as sales at stores open at least a year fell 2.8% while transactions declined 3%. aimed at overhauling its purchasing program and category management while also accelerating
Amazon is still selling the flags of Hamas and Hezbollah, despite the online retailer’s vow to remove Confederate flag merchandise from its website. For less than $20, online shoppers can purchase an 18-piece “Afghan Taliban” set of figurines carrying assault weapons and RPGs, CNS News hamas-and-hezbollah-flags-available” target=”_blank”>reported. Items featuring Hezbollah-Flag-6inch-Photographic-Prints/dp/B003YMDIE6/ref=sr_1_1?ie=UTF8&qid=1435685512&sr=8-1&keywords=hezbollah+flag” target=”_blank”>the bright yellow flag of Hezbollah are also on sale on Amazon. A baby onesie that says “I love Hezbollah” is available in a variety of colors for $19.99. The green Hamas flag HAMAS-FLAG-Palestine-banner-Green/dp/B00I17QW24/ref=sr_1_1?ie=UTF8&qid=1435684821&sr=8-1&keywords=hamas+flag” target=”_blank”>is also on sale at Amazon.com for $8.47. Amazon announced last week that it would would pull all Confederate flag-related items off of its website, following in the footsteps of Wal-Mart, Sears and other major retailers that have disavowed the flag following the Charleston, South Carolina, church shooting of nine black congregants. Amazon had nearly 30,000 items listed in a search for “Confederate flag” at the time of its announcement last Tuesday. It had almost nothing for sale with the flag by late afternoon Wednesday, Reuters reported.
Wow.. Sooo.. You can log on to Amazon.com and get Hamas and Hezbollah merchandise (merchandise of Islamic terrorists!), but you can’t get a Confederate flag. How hypocritical and insane is that?!? Well, for those that want to buy the Stars and Bars, I just Googled “Confederate Flag for sale,” out of curiosity, and found: ultimateflags.com proudrebel.com and other various sites that carry it. I also just checked and..my local fav flag store here in sunny Colorado, A House of Flags, carries them as well. So, an fyi to those here in the greater Denver area. Their web site is: ahouseofflags.com So, if Amazon is too dumb to turn away the business, then by all means vote with your wallet. There are plenty of other vendors happy to help ya. Just sayin..
How crazy is that?!?! Another painful example of political correctness in this country gone wild.. I do a lot of shopping on Amazon, personally. But, shame on Amazon for doing this! Hopefully enough people will write Amazon and tell them to give the political correctness disclaimer crap a rest…that they’ll rethink this nonsense. Many of these cartoons were made over 70 years ago, for crying out loud! Its like having to put sensitivity labels on movies like Gone with the Wind, or the Wizard of Oz; both made in the 1930s. Totally ridiculous! Tom & Jerry cartoons are classics.. Maybe I’ll add some to my collection…but see if I can find them some other place other than Amazon. 🙂