Amazon plans on lower prices at Whole Foods

Amazon will lower Whole Foods prices right away and Prime members will get special discounts

Beyond that, the companies said that "Amazon lockers" will be available in select Whole Foods stores, where customers will be able to have products shipped from Amazon.com to their local Whole Foods store.

Amazon didn't disclose how long that would take, but said it would first need to integrate Amazon Prime into the Whole Foods point-of-sale system.

Amazon plans to expand the number of Whole Foods stores beyond the 470 it has in the USA and United Kingdom, it said.

Shares in Kroger Co and Sprouts Farmers Market Inc each shed around 7 percent of their value in after-hours trade, while Wal-Mart Stores Inc stock was down nearly 2 percent.

The price war is on.

The Federal Trade Commission said Wednesday it would allow Amazon to continue with its $13.7 billion takeover of Whole Foods, according to the Associated Press.

Amazon's statement revived worries that retailer earnings would be pressured by the online giant's entry into brick-and-mortar groceries.

Mohammad Khursheed / Reuters Customers are seen outside a Whole Foods Market in Austin, Texas, U.S. December 14, 2016.

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Whole Foods will grow its team.

The FTC opted not to make a second request for information in its review, which is often a burden for companies that have to provide extensive information that can drain time and resources to collect. Amazon Prime will become the chain's customer rewards program, and Whole Foods products will be available through existing Amazon delivery services like AmazonFresh and Prime Pantry.

Profit at Smucker, with brands ranging from jarred jelly to boxed pancake mix, fell 11 cents a share shy of estimates, with adjusted profit of $1.51 a share.

A Morgan Stanley survey shows about 62% of Whole Foods shoppers are members of Amazon's Prime service, opening the door for cross-selling to entice customers who shop at both to spend more.

Amazon said Thursday its $13.7 billion deal to acquire Whole Foods Market will close August 28, following regulatory approval this week. You can also use them for returns.

The companies intend to lower prices by "inventing" in the areas of merchandising and logistics, they added.

Inc said on Thursday it will cut prices on a range of popular goods as it completes its acquisition of Whole Foods Market Inc, sending shares of rival grocers tumbling over fears of even more brutal market share battles.

Amazon buys Whole Foods: Will this change supermarkets forever?

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