etvfutures.com
etvfutures.com November 24, 2017


Hedge fund called 'greedy bastards' by Whole Foods CEO

18 June 2017, 12:30 | Lena Norman

Whole Foods Market will continue to operate stores under the Whole Foods Market brand and source from trusted vendors and partners around the world.

"The ramifications for all of retail are seismic - not just retailers that sell grocery, but for everyone", Gordon Haskett analyst Chuck Grom said.

Groceries are already a fiercely competitive business, with low-priced rivals like Aldi putting pressure on supermarket chains and another discounter, Lidl, opening its first US stores just this week. Moreover, the analyst believes that the announcement has far-reaching consequences for all food retailers as well as the retail space as a whole. Earlier this year, Target named former Kroger executive Jeff Burt to overhaul its struggling food retail business. Amazon also offers grocery shipments elsewhere, but that's tough with perishable foods. And the Whole Foods deal gives Amazon strong industry knowledge, something it knows it's lacking, according to a person with knowledge of the matter.

"The conventional grocery store should feel threatened and incapable of responding", Pachter said. For example, when it comes to buying fresh food, we like to feel, see and touch the fruits and vegetables we're buying. It has just two of its own Amazon Fresh Pickup locations in Seattle.

Whole Foods has posted seven straight quarterly sales declines at established stores and recently overhauled its board of directors in the face of pressure from activist hedge fund Jana Partners LLC.

There's also the "grocerant" trend - a blending of grocery stores and restaurants.

Trump Denounces Reports Of Widening Russia Probe
Mr Grassley announced the investigation in a letter to California senator Dianne Feinstein, the panel's top Democrat. The report in the Post cited anonymous sources who had been briefed on requests made by Mueller's investigators.


Americans have been slowly moving toward online grocery shopping.

Amazon and Whole Foods take diametrically opposite approaches to pricing. The Whole Foods purchase may help it resolve that issue. The store uses sensors to track items as shoppers put them into baskets or return them to the shelf. The idea is to gravitate away from the "Whole Paycheck" perception for high prices that has dogged Whole Foods, the person said.

Amazon spokesman Drew Herdener said plans do not include reducing jobs as the result of the deal and that the company does not plan to automate Whole Foods cashiers jobs with Amazon Go technology. Whole Foods will keep operating stores under its name. And the key measure that retailers look at to gauge their health, revenue at stores open more than a year, has fallen for seven quarters in a row.

Indeed, shares of Cincinnati-based Kroger, which plummeted 19 percent Thursday after the company slashed its earnings guidance, continued tumbling on Friday. That prodding irked Mackey, who has referred to Whole Foods as his "baby" and to Jana as "greedy bastards".

The Amazon and Whole Foods news even had an impact overseas.

"It's amusing. I was just ordering something on Amazon", said Nick Yezierski, a hotel manager who was eating breakfast outside the Whole Foods flagship store in Austin, Texas. The parties expect to close the transaction during the second half of 2017.



Other News

Trending Now

500000 fans may attend parade for Penguins' Stanley Cup win
Phil Kessel an American hero, signing a baby... "And, obviously, that will be our goal and that will be our expectation". Surely goodness and mercy shall follow me all the days of my life: "and I will dwell in the house of the Lord forever".

Special counsel Mueller investigating Trump for obstruction of justice
The Journal's request sought recordings or transcripts of any recordings made after January 20 at the White House. Conway also said Comey's testimony showed President Donald Trump was not under investigation.

A third of the world is obese or overweight, study finds
It finds that almost 40% of deaths related to carrying excess weight were among people who were overweight but not obese . The five nations and territories with the highest rates of obesity are American Samoa, Tonga, Samoa, Kuwait and Kiribati.

Samsung calls on Americans to help with Bixby's English langauge woes
The GFX listing shows that the device has connectivity features like Bluetooth, GPS and WiFi. The processor is paired with an Adreno 308 GPU, a RAM of 2GB and 16GB of onboard storage.

Theresa May sidesteps questions about response to Grenfell Tower disaster
Police have confirmed that at least 30 people were killed in the fire , and the death toll might increase. In addition, London Mayor Sadiq Khan called for an interim report on the fire to be published this summer.

DUP hopeful of deal with Conservatives sooner rather than later, says Foster
Chief Whip Gavin Williamson, who flew to Belfast for talks with the Unionists at the weekend, is continuing to lead for the Conservatives .

White House: Trump won't sack special counsel Robert Mueller
Ryan said the smartest thing for the president to do would be to let the investigation continue and be vindicated. Sessions told senators on Tuesday that he'd recused himself because he was part of Trump's campaign.

Canaccord Genuity Downgrades Rating On Alphabet Inc. (GOOGL)
Russell Investments Group Ltd. acquired a new stake in shares of Alphabet during the fourth quarter valued at about $612,676,000. Franklin Parlapiano Turner & Welch LLC bought a new stake in Alphabet during the first quarter worth approximately $108,000.

Katy Perry Reaches Record 100M Twitter Followers
The Perry that is fully present and awake now, she said, is working to confront those issues. Twitter celebrated the major milestone with a video of some of her tweets over the years.

Nadal: 10th Roland Garros win is 'indescribable'
Rafael Nadal captured his 10th French Open title when he overwhelmed Stan Wawrinka 6-2, 6-3, 6-1 on Sunday afternoon. Wawrinka , who lost a grand slam final for the first time, said he had been beaten by a man at the peak of his game.