Amazon (AMZN) - Get Amazon.com, Inc. Report announced its surprise acquisition of organic grocer Whole Foods on June 16, 2017.
To be sure, the deal sent shock-waves throughout the retail industry. At the time, pundits galore thought Amazon's bet on physical retail stores meant death to grocery stores such as Kroger (KR) - Get Kroger Co. (KR) Report and down the line, clothing retailers like Macy's (M) - Get Macy's Inc Report .
That hasn't been the case. Since then, Amazon has struggled to turn Whole Foods around. And, other retailers such as Kroger, Walmart (WMT) - Get Walmart Inc. Report , Target (TGT) - Get Target Corporation Report and Costco (COST) - Get Costco Wholesale Corporation Report have upped their games with new same-day delivery services, better organic food offerings and cheaper prices.
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Further, other than Kroger, shares of Walmart and Target have regained their losses and then some logged on the day Amazon said it would buy Whole Foods.
Talk about an over-hyped deal.
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