Amazon Cuts Prices at Whole Foods by Up to 43 percent on First Day

(Bloomberg) —
Amazon Whole Foods
A man shops for avocados at a Whole Foods Market in New York on Monday. (AP Photo/Mark Lennihan)

Amazon spent its first day as the owner of a brick-and-mortar grocery chain cutting prices at Whole Foods Market.

At the Whole Foods on 57th Street in Manhattan, organic fuji apples were marked down to $1.99 a pound from $3.49 a pound; organic avocados went to $1.99 each from $2.79; organic rotisserie chicken fell to $9.99 each from $13.99; and banana prices were slashed to 49 cents per pound from 79 cents.

Amazon acquired the upscale supermarket chain for $13.7 billion, sending competitors such as Kroger, Costco and Wal-Mart reeling. Whole Foods earned a reputation for high prices, getting the nickname Whole Paycheck.

Shares of Kroger fell as much as 2 percent in trading Monday.

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