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Kroger, Grocers Fall Hard After Amazon-Whole Foods News

Courtesy of Benzinga.

Kroger Co (NYSE: KR) share are trading lower by $1.10 (5.4 percent) at $21.86 in Thursday’s session.

The stock trading about unchanged for the session ($22.96), when Amazon (NASDAQ: AMZN) announced it will offer Prime members special savings and in-store benefits at Whole Foods (NASDAQ: WFM) Stores.

See Also: Amazon-Whole Foods: Everything You Need To Know As A Shopper And Prime Member

That news has had a negative impact on other grocers such as Costco (NASDAQ: COST), lower by $4.00 at $155.37, and Sprouts Farmers Markets (NASDAQ: SFM), now in the red by 70 cents at $23.05.

The swift decline in Kroger has breached its June 21 low ($21.87) as $21.76 stands as the low for the session. The low for the move following Amazon’s purchase of Whole Foods was made the day of the announcement (June 16) at $20.46.

Posted-In: Technicals Intraday Update Movers Trading Ideas


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