Amazon (AMZN) rivals crying fowl?
Whole Foods Market Inc. dropped its price of antibiotic-free rotisserie chicken to $7.99, from $8.99, as of Monday, Aug. 28, as part of a price slashing of everyday items by new parent, Amazon. Rotisserie chicken is a popular draw for time-pressed shoppers eager to feed their families a hot supper.
The price cut is probably still not good enough for some shoppers. Costco Wholesale Corporation (COST) undersells "Whole Paycheck," Whole Foods' nickname, for the same type of chicken by two bucks. So popular is Costco's chicken, it has its own Facebook (FB) page.
Costco believes in keeping its chicken prices cheap, according to the Seattle Times. In the article, Costco's Chief Financial Officer Richard Galanti said, "When others were raising their chicken prices from $4.99 to $5.99, we were willing to eat, if you will, $30 to $40 million a year in gross margin by keeping it at $4.99. That's what we do for a living."
Cluck, cluck, Amazon.
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