Royal Ahold Delhaize (ADRNY) , the Dutch owner of Food Lion, shares fell sharply in Amsterdam Friday morning, as the supermarket absorbed news that Amazon (AMZN) would lower prices at Whole Foods Market (WFM) .
Ahold Delhaize, which also owns Stop & Shop and Hannaford, is seeing pressure on margins in its U.S. division and doesn't expect any margin growth in the second half of the year.
Shares in the Dutch supermarket giant was down 4.22% in Amsterdam, changing hands at €15.77, extending a three month loss of 20.5%.
Whole Foods and Amazon, now moving ahead with their $13.7 billion merger, said Thursday, Aug, 24 that the companies will work to reduce the prices on "a selection of best-selling grocery staples" at the upscale grocer.
Shares in other supermarkets were also under pressure Friday morning. Tesco (TSCDY) were down 1.76% in the first hour of trading Friday, changing hands at 184.15 pence. Sainbury's (JSAIY) was down 1.25% to 234.55 pence and Morrisons (MRWSY) lost 1.27% to 249.10.
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