Amazon's One-Year Anniversary of Buying Whole Foods: A Whole Lot of Silly Hype

Amazon announced its big deal for Whole Foods one-year ago today. Since then, it has been a lot of hype and not much bite.

Author:: Brian Sozzi
Publish date:: Jun 16, 2018 7:00 AM EDT

Amazon (AMZN) - Get 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 Report and down the line, clothing retailers like Macy's (M) - Get 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 Report , Target (TGT) - Get Report and Costco (COST) - Get Report have upped their games with new same-day delivery services, better organic food offerings and cheaper prices.

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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