What's the first thing you do after you spend $13.7 billion on a grocery store known for its high prices? Well, if you are Amazon, you slash those prices on the first day you gain ownership of the stores.
ADVERTISEMENT
UBS: Amazon is throwing a pile of cash at Whole Foods to turn a profit — which could come sooner than you think (AMZN)
Amazon will have to spend a big chunk of cash to turn around customers' perception of Whole Foods, but it can't do that forever.
ADVERTISEMENT
Recommended articles
With a huge $21.451 billion bundle of cash (and cash equivalents) on its balance sheets, Amazon can afford to lose a bit while it cuts prices at Whole Foods in order to make its newest acquisition more popular. But, Amazon isn't looking to take a loss forever.
UBS discussed Amazon's plans for the high-end grocer in a conversation with an unnamed former VP of Amazon Fresh: "C
FOLLOW BUSINESS INSIDER AFRICA
ADVERTISEMENT
Recommended articles
Best live dealer casino: Top USA live casinos online
Best real money online casinos USA: Top 10 casino sites in 2024
OPEC excited about partnership with Namibia
The US loses to Russia and China in popularity across Africa
Top 10 most valuable South African brands in 2024
Africa's giants play tug of war for the top economic spot
Morocco is making giant strides to become Africa's aviation manufacturing hub
Hackers test their ransomwares in less protected regions like Africa before striking richer nations: Report
