One problem facing the chain: Conventional supermarkets are stocking more natural and organic products at lower prices than Whole Foods, draining away some of its customers.
Amazon plans to keep the high standards at Whole Foods, Mackey said, adding, "They're not stupid enough to go change that". "And when we huddled together, it was like we just had-we just had these big grins on our faces, like, 'These guys are fantastic, '" Mackey said.
Whole Foods CEO says deal with Amazon was the result of a 'whirlwind courtship'. "Because, little over six weeks after we met on this blind date, we're officially engaged", Mackey said. Although corporate lending and capital markets have been below expectations thus far in 2017 largely due to political uncertainty, we believe deals such as the Amazon acquisition may cause increased activity given companies may need to react strategically despite uncertainty in Washington. He said they could not "consummate" the marriage until the deal was official, and that it was "not a Tinder relationship".
The remarks offered a preview into how e-commerce giant Amazon might turn around the sluggish sales of Whole Foods since announcing on Friday it would buy the company for $13.7 billion, including debt.
"I just don't want Whole Foods to change how it is fundamentally", Stevens said.
Those big-box competitors were already disadvantaged by Amazon's captive audience, an estimated 80 million Prime members, who could theoretically order groceries online or task Alexa, Amazon's virtual assistant, to prepare a delivery or arrange for a pickup at the nearest Whole Foods. Through Whole Foods, Amazon would gain a national store footprint in the United States along with a presence in Canada and the U.K, with over 460 stores in total. "I had this dream (LAUGHTER) a year and a half ago". I think we coulda talked for 10 hours.
"Even if they did compete. you'd have to look at the presence of (other grocery chains)", said Abbott, who argued that many Whole Foods stores are in close proximity to other grocery stores, which means antitrust enforcers might be satisfied there was adequate competition. (LAUGHTER) I just can't.
"I think it will be great for all parties, for them, for Amazon, for us", says Teneek Stanley, from Baltimore.
TheStreet visited three grocery locations in New York's financial district, and of those three, Whole Foods noticeably thrived. And so now, today, it's coming true. It's worth noting that Amazon spokesman Drew Herdener told Bloomberg there are "no plans to use no-checkout technology to automate the jobs of cashiers at Whole Foods and no job reductions are planned".